经常项目余额(current account balance)
经常项目余额(current account balance)
经常项目余额(current account balance)
B.the difference between national saving and domestic investment.
C.net foreign investment.
D.the difference between government saving and government investment.
Why would Argentina have to give the United States seigniorage if it gave up its peso and dollarized its economy completely? How would you measure the size of Argentina's sacrifice of seigniorage? (To do this exercise,think through the actual steps Argentina would have to take to dollarize its economy.You may assume that the Argentine central bank's assets consist 100 percent of interest-bearing U.S. Treasury bonds.)
Given output,a country can improve its current account by either cutting investment or cutting consumption(private or government).After the debt crisis of the 1980s began,many developing countries achieved improvements in their current accounts by cutting investment.Is this a sensible strategy?
During the 1980s debt crises,economist Peter B.Kenen of Princeton University suggested the creation of a government-sponsored International Debt Discount Corporation(IDDC)that would issue its own long-term bonds to banks in exchange for their loans to developing countries.How might an IDCC have facilitated debt relief for developing countries? What problems can you see in operating such a facility? (For a symposium on these and related questions,see the Winter 1990 issue of the Journal of Economic Perspectives.)
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