Deregulation and the Current Account

Arbeitspapier

We use a dynamic general-equilibrium model to study how removing barriers to competition in the nontraded goods sector affects the current account of a small open economy. We show that the expansion of the nontraded sector that results from such a "deregulation shock" is associated with an accumulation of foreign assets unless the production of nontraded goods is very capital-intensive. We then investigate whether a measure of domestic deregulation does, in fact, help to explain countries' current account balances in recent decades, and find some empirical support for the model's predictions.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 02.07

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Open Economy Macroeconomics ; Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection ; Current Account Adjustment; Short-term Capital Movements
• Thema: International macroeconomics ; nontraded goods ; current account ; deregulation ; imperfect competition ; Deregulierung ; Nicht-handelbare Güter ; Unvollkommener Wettbewerb ; Kleine offene Volkswirtschaft ; Wirtschaftliche Anpassung ; Leistungsbilanz ; Kaufkraftparität ; Reallohn ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Harms, Philipp
• Ereignis: Veröffentlichung
• (wer): Swiss National Bank, Study Center Gerzensee
• (wo): Gerzensee
• (wann): 2002

Weitere Informationen

• Handle: http://hdl.handle.net/10419/128014
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ