An asset-pricing view of external adjustment
Recent literature has argued that conventional measures of external sustainability – the trade balance and current account – are misleading because they omit capital gains on net foreign asset positions. We adjust the definition of the current account to include the capital gains and discuss how thi...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Elsevier Science Direct
2011
|
| Online Access: | http://hdl.handle.net/1721.1/65373 https://orcid.org/0000-0002-9054-3804 |