Current account deficits: the Australian debate

Large and persistent current account deficits are frequently raised as a cause for concern for a number of reasons. Perhaps the key concern is that countries in this situation could be on a path to insolvency, building up excessive net foreign debt, raising the prospects of default or a sharp revers...

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Autores principales:	Belkar, Rochelle, Cockerell, Lynne, Kent, Christopher
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA ECONÓMICA DEUDA EXTERNA MOVIMIENTOS DE CAPITAL
Acceso en línea:	https://hdl.handle.net/20.500.12580/3743
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spelling	oai-20.500.12580-37432021-04-24T11:02:06Z Current account deficits: the Australian debate Belkar, Rochelle Cockerell, Lynne Kent, Christopher POLÍTICA ECONÓMICA DEUDA EXTERNA MOVIMIENTOS DE CAPITAL Large and persistent current account deficits are frequently raised as a cause for concern for a number of reasons. Perhaps the key concern is that countries in this situation could be on a path to insolvency, building up excessive net foreign debt, raising the prospects of default or a sharp reversal in capital flows, which might force an abrupt and costly adjustment.1 Large deficits and rising indebtedness could also leave countries more vulnerable to adverse external shocks, including a change in sentiment on the part of foreign creditors. Some argue that policymakers should take steps to ensure that countries move toward a sustainable position in which the current account deficit is not so large that it will lead to an excessive build-up in foreign indebtedness. 2019-11-01T00:04:06Z 2019-11-01T00:04:06Z 2008 Artículo 978-956-7421-30-5 https://hdl.handle.net/20.500.12580/3743 eng Series on Central Banking, Analysis, and Economic Policies, no. 12 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 491-535 application/pdf AUSTRALIA Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA ECONÓMICA DEUDA EXTERNA MOVIMIENTOS DE CAPITAL
spellingShingle	POLÍTICA ECONÓMICA DEUDA EXTERNA MOVIMIENTOS DE CAPITAL Belkar, Rochelle Cockerell, Lynne Kent, Christopher Current account deficits: the Australian debate
description	Large and persistent current account deficits are frequently raised as a cause for concern for a number of reasons. Perhaps the key concern is that countries in this situation could be on a path to insolvency, building up excessive net foreign debt, raising the prospects of default or a sharp reversal in capital flows, which might force an abrupt and costly adjustment.1 Large deficits and rising indebtedness could also leave countries more vulnerable to adverse external shocks, including a change in sentiment on the part of foreign creditors. Some argue that policymakers should take steps to ensure that countries move toward a sustainable position in which the current account deficit is not so large that it will lead to an excessive build-up in foreign indebtedness.
format	Artículo
author	Belkar, Rochelle Cockerell, Lynne Kent, Christopher
author_facet	Belkar, Rochelle Cockerell, Lynne Kent, Christopher
author_sort	Belkar, Rochelle
title	Current account deficits: the Australian debate
title_short	Current account deficits: the Australian debate
title_full	Current account deficits: the Australian debate
title_fullStr	Current account deficits: the Australian debate
title_full_unstemmed	Current account deficits: the Australian debate
title_sort	current account deficits: the australian debate
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3743
work_keys_str_mv	AT belkarrochelle currentaccountdeficitstheaustraliandebate AT cockerelllynne currentaccountdeficitstheaustraliandebate AT kentchristopher currentaccountdeficitstheaustraliandebate
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Current account deficits: the Australian debate

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