Current account imbalances reversed sharply post-crisis: IMF paper


Countries whose pre-crisis current account balances were in excess of what could be explained by economic fundamentals have experienced the largest contractions in their external balance, an International Monetary Fund paper, published on Monday, says.

Philip Lane and Gian Maria Milesi-Ferretti, the paper's authors, analyse the factors underlying the widening of current account imbalances and subsequent contraction in the period preceding the global financial crisis.

The authors find that cross

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