On Current Account Surpluses and the Correction of Global Imbalances
NBER Working Paper No. 12904
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This is a revised version of a paper presented at the Central Bank of Chile Research Conference, November 9-10, 2006. I thank Ed Leamer and Roberto Alvarez for helpful discussions and comments. I am grateful to Klaus Schmidt-Hebbel for his comments and to Alberto Naudon for his comments and assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.