NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Varieties and the Transfer Problem: The Extensive Margin of Current Account Adjustment

Giancarlo Corsetti, Philippe Martin, Paolo Pesenti

NBER Working Paper No. 13795
Issued in February 2008

---- Acknowledgements -----

We thank Christian Broda, Joseph Gagnon, Philip Lane and Gian Maria Milesi-Ferretti as well as seminar participants at Columbia University, Dublin, Rome, European Central Bank, and NBER Summer Institute for helpful comments. Corsetti's work is part of the Pierre Werner Chair Programme on Monetary Union at the Robert Schuman Centre of the European University Institute. Martin's work received financial assistance from the Institut Universitaire de France and Centre d'Economie de la Sorbonne. The views expressed here are those of the authors, and do not necessarily reflect the position of the Federal Reserve Bank of New York, the Federal Reserve System, or any other institution with which the authors are affiliated. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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