Academic journal article NBER Reporter

Current Account Imbalances

Academic journal article NBER Reporter

Current Account Imbalances

Article excerpt

NBER Research Associate Richard H. Clarida of Columbia University organized an NBER Conference on "G7 Current Account Imbalances: Sustainability and Adjustment", which was held on June 1 and 2. These papers were discussed:

Richard H. Clarida, and Manuela Goretti and Mark Taylor, University of Warwick, "Are There Thresholds of Current Account Adjustment in the G7?"

Discussant: Robert E. Cumby, NBER and Georgetown University

Pierre-Olivier Gourinchas, NBER and University of California, Berkeley, and Helene Rey, NBER and Princeton University, "From World Banker to World Venture Capitalist: The U. S. External Adjustment and the Exorbitant Privilege"

Discussant: Jose De Gregorio, Central Bank of Chile

Philip R. Lane, Trinity College Dublin, and Gian Maria Milesi-Ferretti, International Monetary Fund, "A Global Perspective on External Positions"

Discussant: Richard Portes, NBER and London Business School

Harold Faruqee and Douglas Laxton, International Monetary Fund; Dirk Muir, Norges Bank; and Paolo Pesenti, Federal Reserve Bank of New York, "Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing"

Discussant: Lars E.O. Svensson, NBER and Princeton University

Aart Kraay, World Bank, and Jaume Ventura, NBER and Universitat Pompeu Fabra, "The Dot-Com Bubble, the Bush Deficits, and the U.S. Current Account"

Discussant: Joseph Gagnon, Federal Reserve Board

Michael P. Dooley, NBER and University of California, Santa Cruz; David Folkerts-Landau, Deutsche Bank; and Peter Gather, NBER and Brown University, "Direct Investment, Rising Real Wages, and the Absorption of Excess Labor in the Periphery" (NBER Working Paper No. …

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