External Adjustment, Global Imbalances, Valuation Effects

Gourinchas, P-O and Rey, H (2014) External Adjustment, Global Imbalances, Valuation Effects. In: Handbook of International Economics. Elsevier, pp. 585-645. ISBN 9780444543141


We provide an overview of the recent developments of the literature on the determinants of long-term capital flows, global imbalances, and valuation effects. We present the main stylized facts of the new international financial landscape in which external balance sheets of countries have grown in size and discuss implications for the international monetary and financial system.

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Item Type: Book Section
Subject Areas: Economics
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ISSN: 1573-4404

Date Deposited: 06 Dec 2019 11:31
Last Modified: 01 Oct 2023 01:22
URI: https://lbsresearch.london.edu/id/eprint/1292

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