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Book Cover
E-book
Author Masson, Paul R., author

Title Net foreign assets and international adjustment : the United States, Japan, and Germany / prepared by Paul R. Masson, Jeroen Kremers and Jocelyn Horne
Published [Washington, D.C.] : International Monetary Fund, [1993]
©1993
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Description 1 online resource (iii, 20 pages) : illustrations
Series IMF working paper ; WP/93/33
IMF working paper ; WP/93/33
Summary This paper examines external adjustment in the United States, Japan and Germany from the perspective of net foreign asset positions. It asks two questions: What are, in the long run, the determinants of net foreign asset equilibrium? and: What are, in the short run, some of the adjustment mechanisms sustaining that equilibrium? An analysis of post-war data produces two insights. First, using a cointegration approach, the existence of long-run net foreign asset equilibrium can be identified: it is a function of demographic variables and public debt. Second, deviations from long-run equilibrium give rise to feedback through different components of domestic absorption in the three countries
Bibliography Includes bibliographical references (pages 18-20)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Alien property -- Germany.
Alien property -- Japan.
Alien property -- United States.
Form Electronic book
Author Horne, Jocelyn, author
Kremers, Jeroen J. M., author
International Monetary Fund. European I Department, issuing body