- 著者
- CHULSOON KHANG
- 出版者
- JAPANESE ECONOMIC ASSOCIATION
- 雑誌
- The Economic Studies Quarterly (ISSN:0557109X)
- 巻号頁・発行日
- vol.41, no.3, pp.221-234, 1990-09-20 (Released:2007-10-19)
- 参考文献数
- 13
In wake of the recent Black Monday stock market crash it is often argued that the twin deficits of the U.S. (government) budget and trade are the main causes for the “ailing” U.S. and world economies. It is argued within the framework of a two-country dynamic model that the persistent current account imbalance and its implied national indebtedness are a natural consequence of differential national saving rates in the world of integrated capital markets and that any direct interference hampering an orderly flow of capital makes both countries worse off. It is also shown that, though an increase in the saving rate of the higher saving country makes the lower saving country better off, an increase in the saving rate of the lower saving country makes the higher saving country worse off, both in the short run and long run.
- 著者
- CHULSOON KHANG
- 出版者
- JAPANESE ECONOMIC ASSOCIATION
- 雑誌
- The Economic Studies Quarterly (ISSN:0557109X)
- 巻号頁・発行日
- vol.38, no.2, pp.131-147, 1987-06-20 (Released:2008-02-28)
- 参考文献数
- 17