Franklin

Criteria of External Sustainability [electronic resource]

Author/Creator:
International Monetary Fund
Publication:
Washington, D.C. : International Monetary Fund, 1988.
Series:
IMF eLibrary
IMF Working Papers
Format/Description:
Government document
Book
1 online resource (26 p.)
Local subjects:
Balance of payments.
Capital account.
Current account.
Current account adjustment.
Current account balance.
Current account deficit.
Current account deficits.
Current account disturbance.
Current account imbalance.
Current account imbalances.
Current account shock.
Current account shocks.
Current account surplus.
Current account surpluses.
Debt default.
Debt obligations.
Debt relief.
Debt servicing.
Debt stock.
Debt sustainability.
Debtor countries.
Debtor country.
Domestic absorption.
Domestic currency.
Domestic debt.
Domestic savings.
Excess volatility.
External debt.
External debt obligations.
External shock.
Foreign debt.
Government debt.
Government debts.
Net external debt.
Persistent current account deficit.
Public debt.
Stock of debt.
Germany.
Japan.
United States.
Summary:
This paper analyzes the main conceptual issues that arise in assessing external sustainability with a view toward developing operational criteria for the purposes of multilateral surveillance. The main contribution of the analysis is to show how conditional forecasts of external imbalance may be generated in a consistent way that explicitly incorporates a mechanism for achieving sustainability. An index of external unsustainability is also derived that reflects the probability of future changes in policies expected by private agents over time.
Notes:
Description based on print version record.
Contributor:
International Monetary Fund
Other format:
Print Version:
ISBN:
1451965206:
9781451965209
ISSN:
1018-5941
Publisher Number:
10.5089/9781451965209.001
Access Restriction:
Restricted for use by site license.
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