Found 103 article(s) for author 'Ricardo Hausmann'

Strategic Trade in Pollution Permits

Strategic Trade in Pollution Permits. Ricardo Hausmann, 2007, Paper. “Current account statistics may not be good indicators of the evolution of a country’s net foreign assets and of its external position’s sustainability. The value of existing assets may vary independently of current account flows, so-called ‘return privileges’ may allow some countries to obtain abnormal returns, and mismeasurement of FDI, unreported trade of insurance or liquidity services, and debt relief may also play a role. We analyse the relevant evidence in a large set of countries and periods, and examine measures of net foreign assets obtained by capitalizing the net investment income and then estimating the current account from the changes in this stock of foreign assets. We call dark matter the difference between our measure of net foreign assets and that measured by official statistics. We find it to be important for many countries, analyse its relationship with theoretically relevant factors, and note that the resulting perspective tends to make global net asset positions appear relatively stable.Link

Tags: , , , ,

Why the US Current Account Deficit is Sustainable

Why the US Current Account Deficit is Sustainable. Ricardo Hausmann, May 27, 2006, Paper. “Over the last couple of years, the burgeoning of the US current account deficit, reaching $792 billion in 2005 alone, has led to significant concerns about the future of the United States and the possibility of a major global crisis. With a brief respite in 1991, it comes after twenty-four years of unbroken deficits, which have totalled over $5.2 trillion. According to some doomsayers, once the massive financing required to continue paying for such a widening gap dries up…” May require purchase or user account. Link

Tags: , , , ,

Economic and Social Progress Report 2000 (IPES)

Economic and Social Progress Report 2000 (IPES). Ricardo Hausmann, 2000, Paper. “Competing in the world economy does not automatically boost a nation’s productivity and restructure its economy. Such progress requires mobilizing capital, employment, technology and knowledge. Opportunities beyond the business realm must be fully exploited to the benefit of society as a whole. The Report provides clear policy guidelines and priorities for both government and the private sector to foster competitiveness…” Link

Tags: , ,