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The expectations-driven U.S. current account: conference paper

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Personen und Körperschaften: Hoffmann, Mathias (VerfasserIn), Krause, Michael (VerfasserIn), Laubach, Thomas (VerfasserIn)
Titel: The expectations-driven U.S. current account: conference paper/ Krause, Michael; Hoffmann, Mathias; Laubach, Thomas
Format: E-Book
Sprache: Englisch
veröffentlicht:
[Kiel, Hamburg] ZBW 2013
Gesamtaufnahme: Verein für Socialpolitik: Jahrestagung des Vereins für Socialpolitik 2013 ; D02-V1
Schlagwörter:
Graue Literatur
Quelle: Verbunddaten SWB
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author Hoffmann, Mathias, Krause, Michael, Laubach, Thomas
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contents Since 1991, survey expectations of long-run output growth for the U.S. relative to the rest of the world exhibit a pattern strikingly similar to that of the U.S. current account, and thus also to global imbalances. We show that this finding can to a large extent be rationalized in a two-region stochastic growth model simulated using expected trend growth filtered from observed productivity. In line with the intertemporal approach to the current account, a major part of the buildup of the U.S. current account deficit appears to be driven by the optimal response of households and firms to improved growth prospects.
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spelling Hoffmann, Mathias (DE-588)129670928 (DE-627)477112846 (DE-576)297778072 aut, The expectations-driven U.S. current account conference paper Krause, Michael; Hoffmann, Mathias; Laubach, Thomas, [Kiel Hamburg] ZBW 2013, Online-Ressource (29 S.) graph. Darst., Text txt rdacontent, Computermedien c rdamedia, Online-Ressource cr rdacarrier, Beiträge zur Jahrestagung des Vereins für Socialpolitik 2013: Wettbewerbspolitik und Regulierung in einer globalen Wirtschaftsordnung D02, Session: Open economy macroeconomics V1, Since 1991, survey expectations of long-run output growth for the U.S. relative to the rest of the world exhibit a pattern strikingly similar to that of the U.S. current account, and thus also to global imbalances. We show that this finding can to a large extent be rationalized in a two-region stochastic growth model simulated using expected trend growth filtered from observed productivity. In line with the intertemporal approach to the current account, a major part of the buildup of the U.S. current account deficit appears to be driven by the optimal response of households and firms to improved growth prospects., Systemvoraussetzungen: Acrobat Reader., (DE-206)34 Graue Literatur DE-206, Krause, Michael (DE-588)133978893 (DE-627)559240058 (DE-576)300230508 aut, Laubach, Thomas 1965-2020 (DE-588)128701552 (DE-627)378301306 (DE-576)29728746X aut, Verein für Socialpolitik Jahrestagung des Vereins für Socialpolitik 2013 D02 Session: Open economy macroeconomics ; V1 D02-V1 D,02,1.2013 (DE-627)781990505 (DE-576)9781990503 nm, http://hdl.handle.net/10419/79854 Resolving-System kostenfrei Volltext, http://hdl.handle.net/10419/79854 LFER, LFER epn:3475331373 2019-05-07T00:00:00Z
spellingShingle Hoffmann, Mathias, Krause, Michael, Laubach, Thomas, The expectations-driven U.S. current account: conference paper, Verein für Socialpolitik, Jahrestagung des Vereins für Socialpolitik 2013, D02, D02-V1, Since 1991, survey expectations of long-run output growth for the U.S. relative to the rest of the world exhibit a pattern strikingly similar to that of the U.S. current account, and thus also to global imbalances. We show that this finding can to a large extent be rationalized in a two-region stochastic growth model simulated using expected trend growth filtered from observed productivity. In line with the intertemporal approach to the current account, a major part of the buildup of the U.S. current account deficit appears to be driven by the optimal response of households and firms to improved growth prospects., Graue Literatur
swb_id_str 9782843466
title The expectations-driven U.S. current account: conference paper
title_auth The expectations-driven U.S. current account conference paper
title_full The expectations-driven U.S. current account conference paper Krause, Michael; Hoffmann, Mathias; Laubach, Thomas
title_fullStr The expectations-driven U.S. current account conference paper Krause, Michael; Hoffmann, Mathias; Laubach, Thomas
title_full_unstemmed The expectations-driven U.S. current account conference paper Krause, Michael; Hoffmann, Mathias; Laubach, Thomas
title_in_hierarchy D02-V1. The expectations-driven U.S. current account: conference paper (2013)
title_short The expectations-driven U.S. current account
title_sort the expectations-driven u.s. current account conference paper
title_sub conference paper
title_unstemmed The expectations-driven U.S. current account: conference paper
topic Graue Literatur
topic_facet Graue Literatur
url http://hdl.handle.net/10419/79854
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