{
  "title": "Current Accounts: What Is Their Relevance for Economic Policymaking?",
  "publication": "IMF Working Papers, May 1, 1998",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/current-accounts-what-is-their-relevance-for-economic-policymaking-2595",
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  "summary": "This paper surveys the main theoretical approaches for analyzing movements in the current account of the balance of payments, from the Mundell-Fleming paradigm to modern intertemporal approaches.",
  "sections": [
    {
      "heading": "Summary and theoretical approaches",
      "content": "- The paper surveys the main theoretical approaches for analyzing movements in the current account of the balance of payments, from the Mundell-Fleming paradigm to modern intertemporal approaches.\n- Modern economic theory views current account imbalances not simply as a reflection of goods market developments, but also as an outcome of intertemporal consumption and investment choices and associated capital market behavior."
    },
    {
      "heading": "Implications for policymaking",
      "content": "- Policy implications derive from the view that current account positions reflect intertemporal decisions and capital market behavior, not only goods market imbalances.\n- Policymaking should consider:\n  - Intertemporal consumption and investment choices.\n  - Associated capital market behavior and its influence on current account dynamics."
    },
    {
      "heading": "Empirical examination: country experiences",
      "content": "- The paper analyzes recent experiences of:\n  - Italy\n  - Israel\n  - Pakistan\n- These country analyses are used to reflect on policy strategies applied under diverse circumstances."
    },
    {
      "heading": "Key publication facts and identifiers",
      "content": "- Authors: Fabio Scacciavillani, Malcolm D. Knight\n- Publication date: May 1, 1998\n- Series: Working Paper No. 1998/071\n- Issue: 071\n- Volume: 1998\n- Pages: 41\n- DOI: https://doi.org/10.5089/9781451849219.001\n- Stock No: WPIEA0711998\n- ISBN: 9781451849219\n- ISSN: 1018-5941\n\nSource: IMF Working Papers — \"Current Accounts: What Is Their Relevance for Economic Policymaking?\" by Fabio Scacciavillani and Malcolm D. Knight (May 1, 1998).\n\n---\n\n Content in this bundle\n\n- Current Accounts: What Is Thier Relevance for Economic Policymaking?\n  - Current Accounts: What Is Thier Relevance for Economic Policymaking? (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Current Accounts: What Is Thier Relevance for Economic Policymaking? (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/current-accounts-what-is-their-relevance-for-economic-policymaking-2595"
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    "Authors: Fabio Scacciavillani, Malcolm D. Knight",
    "Published: May 1, 1998",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451849219.001",
    "The paper surveys the main theoretical approaches for analyzing movements in the current account of the balance of payments, from the Mundell-Fleming paradigm to modern intertemporal approaches.",
    "Modern economic theory views current account imbalances not simply as a reflection of goods market developments, but also as an outcome of intertemporal consumption and investment choices and associated capital market behavior.",
    "Policy implications derive from the view that current account positions reflect intertemporal decisions and capital market behavior, not only goods market imbalances.",
    "Policymaking should consider:",
    "The paper analyzes recent experiences of:",
    "These country analyses are used to reflect on policy strategies applied under diverse circumstances.",
    "Authors: Fabio Scacciavillani, Malcolm D. Knight",
    "Publication date: May 1, 1998",
    "Series: Working Paper No. 1998/071",
    "Issue: 071",
    "Volume: 1998",
    "Pages: 41",
    "DOI: https://doi.org/10.5089/9781451849219.001",
    "Stock No: WPIEA0711998",
    "ISBN: 9781451849219",
    "ISSN: 1018-5941",
    "**Current Accounts: What Is Thier Relevance for Economic Policymaking?**"
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