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Book Cover
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]
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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. 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