Global imbalances and external adjustment after the crisis by Philip R. Lane and Gian-Maria Milesi-Ferretti published by IMF (8/2014), indicated by Alvaro Manoel. “This paper has two objectives. First, it reviews the recent dynamics of global imbalances (both “flow” and “stock” imbalances), with a special focus on the shifting position of Latin America in the global distribution. Second, it examines the cross-country variation in external adjustment over 2008-2012…”
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