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2 edition of Current accounts in the long and short run found in the catalog.

Current accounts in the long and short run

by Aart Kraay

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  • 7 Currently reading

Published by Massachusetts Institute of Technology, Dept. of Economics in Cambridge, MA .
Written in English


About the Edition

Faced with income fluctuations, countries smooth their consumption by raising savings when income is high, and vice versa. How much of these savings do countries invest at home and abroad? In other words, what are the effects of fluctuations in savings on domestic investment and the current account? In the long run, we find that countries invest the marginal unit of savings in domestic and foreign assets in the same proportions as in their initial portfolio, so that the latter is remarkably stable. In the short run, we find that countries invest the marginal unit of savings mostly in foreign assets, and only gradually do they rebalance their portfolio back to its original composition. This means that countries not only try to smooth consumption, but also domestic investment. To achieve this, they use foreign assets as a buffer stock. Keywords: Current account adjustment, short and long run, international capital flows. JEL Classification: F32, F41.

Edition Notes

StatementAart Kraay [and] Jaume Ventura
SeriesWorking paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 02-21, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 02-21.
ContributionsVentura, Jaume, Massachusetts Institute of Technology. Dept. of Economics
The Physical Object
Pagination40 p. :
Number of Pages40
ID Numbers
Open LibraryOL24639583M
OCLC/WorldCa51760160

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Current accounts in the long and short run by Aart Kraay Download PDF EPUB FB2

Current accounts in the long and short run. Cambridge, MA.: National Bureau of Economic Research, © (OCoLC) Material Type: Internet resource: Document Type: Book, Internet Resource: All Authors / Contributors: Aart Kraay; Jaume Ventura; National Bureau of Economic Research. Get this from a library.

Current accounts in the long and short run. [Aart Kraay; Jaume Ventura; National Bureau of Economic Research.] -- Abstract: Faced with income fluctuations, countries smooth their consumption by raising savings when income is high, and vice versa.

How much of these savings do countries invest at home and abroad?. Current Accounts in the Long and the Short Run Aart Kraay, Jaume Ventura. Chapter in NBER book NBER Macroeconomics AnnualVolume 17 (), Mark Gertler and Kenneth Rogoff, editors (p.

65 - ) Conference held AprilPublished in January by MIT PressCited by: Current Accounts in the Long and Short Run Aart Kraay, Jaume Ventura. NBER Working Paper No. Issued in June NBER Program(s):International Finance and Macroeconomics, International Trade and Investment Faced with income fluctuations, countries smooth their consumption by raising savings when income is high, and vice versa.

Current Accounts in the Long and Short Run. By Aart Kraay and Jaume Ventura. In other words, what are the effects of fluctuations in savings on domestic investment and the current account.

In the long run, we find that countries invest the marginal unit of savings in domestic and foreign assets in the same proportions as in their initial Author: Aart Kraay and Jaume Ventura. Current Accounts in the Long and Short Run. By Aart Kraay and Jaume Ventura. Abstract. In other words, what are the effects of fluctuations in savings on domestic investment and the current account.

In the long-run, we find that countries invest the marginal unit of savings in domestic and foreign assets in the same proportions as in their. Short term is a concept that refers to holding an asset for a year or less, and accountants use the term “current” to refer to an asset expected to.

Get fully-functional Current Accounts and automate your money flows with features like API Banking, Payouts Platform, Easy Reconciliation, and more. Plus standard banking features like cheque book, debit cards and account statements.

In the short-run, a current account deficit is helpful to the borrowing nation. Foreigners are willing to pump capital into it. That drives economic growth beyond what the country could manage on its own.

Current accounts are at the core of the personal finance ecosystem. You need a bank account to pay and receive money, and to have other products like.

This should improve the current account position and cause a positive swing however, whether the swing will be positive or negative depends of factors such as relatively price elasticity as explained by the Marshall Lerner condition which show a reflecting in the J Curve effect on how depreciation can worsen current account in short term and.

The current and capital accounts are two components of a nation's balance of payments. The current account is the difference between a country's savings and investments. The short run, long run and very long run are different time periods in economics.

Quick definition. Very short run – where all factors of production are fixed. (e.g on one particular day, a firm cannot employ more workers or buy more products to sell) Short run – where one factor of production (e.g.

capital) is fixed. This is a time period. Countriesaresubjecttotransitoryincomeshockssuchaschangesintheterms oftrade,fluctuationsinproduction,policyreforms,naturaldisasters,andmanyothers.

Accounts payable, accounts receivable, current (short-term) assets. The life of a corporation Is unlimited. A residual claim against the book value of a firm's assets. Stockholders' Equity. In the long run, all costs are. variable. Here's a look at the difference between the long run and the short run in microeconomics.

Short Run vs. Long Run. In the study of economics, the long run and the short run don't refer to a specific period of time, such as five years versus three months.

Rather, they are conceptual time periods, the primary difference being the flexibility and. The Balance of Payment is a set of accounts which comprises of two major accounts, one of which is the Current Account.

Current Account is the record of the inflow and outflow of money to and from the country during a year, due to the trading of commodity, service, and income.

The account is an indicator of the status of the economy. Non-current assets or long term assets are those assets which will not get converted into cash within one year and are non-current in nature. The list of current assets includes cash and cash equivalents, short term investments, accounts receivables, inventories, and prepaid revenue.

In the short run, the current account deficit is a win/win for both nations. But if the current account deficit continues for a long time, it will slow economic growth. Foreign lenders will begin to wonder whether they will get an adequate return on their investment. If demand falls off, the value of the borrowing country's currency may also.

Well, if a company's current assets are less than its current liabilities, then it may run into trouble as it might not be able to pay back creditors in the short term. Current assets and current. 1) sales on credit are accounts relivable rather than cash inflows until they are collected which may be in a different period 2) income taxes are often deferred so the amount on the income statement may not represent the amount of the check to the irs.

The long run, on the other hand, refers to a period in which all factors of production are variable. Differentiation between short run and long run is important in economics because it tells companies what to do during different time periods. Let’s consider a company which is incurring losses.

If I’m slogging through a book, or have a million things going on a page book in ebook can feel just as long to me as a page ebook I’m completely engrossed in and flying through. Now, if I’m holding the physical book clearly I’m aware of it and I can slog, be busy, or become engrossed just the same but I’m totally aware.