Transcription of Stephanie Schmitt-Groh´e2 3 First draft, Fall 1998
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Stephanie Schmitt-Groh´e2 3 First draft, Fall 1998
International Macroeconomics1 Stephanie Schmitt-Groh e2 Mart n Uribe3 First draft , fall 1998 Last updated: June 25, 20141 The seeds for this manuscript were lecture notes taken by Alberto Ramos ina course on International Finance that Mike Woodford taughtat the University ofChicago in the Winter of University. E-mail: University. E-mail: Global Balance-of-Payments Accounting .. The Current Account .. The Current Account and the Net International InvestmentPosition .. Valuation Changes and the Net International InvestmentPo-sition .. The Negative-NIIP-Positive-NII Paradox: Dark Matter?.. Dark Matter .. Return Differentials .. Who Lends and Who Borrows Around the World? .. Exercises .. 322 Current Account Can a Country Run a Perpetual Trade Balance Deficit? .. Can a Country Run a Perpetual Current Account Deficit? . Savings, Investment, and the Current Account .. Current Account Deficits As Declines in the Net In-ternational Investment Position.
International Macroeconomics1 Stephanie Schmitt-Groh´e2 Mart´ın Uribe3 First draft, Fall 1998 Last updated: June 25, 2014 1The seeds for this manuscript were lecture notes taken by Alberto Ramos in a course on International Finance that Mike Woodford taught at the University of
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