Valuation effects and external adjustment: a review

Ever since David Hume introduced his price-specie flow mechanism in 1752, the question of external adjustment has been a classic issue for international macroeconomists. In 1968 Robert Mundell asked “To what extent should surplus countries expand, to what extent should deficit countries contract?” (...

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Autor principal: Gourinchas, Pierre-Oliver
Formato: Artículo
Lenguaje:eng
Publicado: Banco Central de Chile 2019
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Acceso en línea:https://hdl.handle.net/20.500.12580/3736
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