WorldCat Identities

Milesi-Ferretti, Gian Maria

Overview
Works: 112 works in 733 publications in 1 language and 5,213 library holdings
Roles: Author, Other, Honoree
Classifications: HG3882, 382.17
Publication Timeline
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Most widely held works by Gian Maria Milesi-Ferretti
Current-account sustainability by Gian Maria Milesi-Ferretti( Book )

49 editions published between 1994 and 1996 in English and held by 614 WorldCat member libraries worldwide

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Growth effects of income and consumption taxes : positive and normative analysis by Gian Maria Milesi-Ferretti( Book )

27 editions published between 1995 and 1998 in English and held by 142 WorldCat member libraries worldwide

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Current account reversals and currency crises : empirical regularities by Gian Maria Milesi-Ferretti( Book )

28 editions published in 1998 in English and held by 135 WorldCat member libraries worldwide

Abstract: This paper studies sharp reductions in current account deficits and large exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. It finds that both domestic factors, such as the low reserves, and external factors, such as unfavorable terms of trade and high interest rates in industrial countries, trigger reversals and currency crises. The two types of events are, however, distinct; indeed, current account imbalances are not sharply reduced in the years following a currency crisis. Economic performance around these events is also quite different. An exchange rate crash is associated with a fall in output growth and a recovery thereafter, while for reversal events there is no systematic evidence of a growth slowdown
Sharp reductions in current account deficits : an empirical analysis by Gian Maria Milesi-Ferretti( Book )

22 editions published in 1997 in English and Undetermined and held by 107 WorldCat member libraries worldwide

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Long-term capital movements by Philip R Lane( Book )

24 editions published in 2001 in English and held by 105 WorldCat member libraries worldwide

International financial integration allows countries to become net creditors or net debtors with respect to the rest of the world. In this paper, we show that a small set of fundamentals - shifts in relative output levels, the stock of public debt and demographic factors - can do much to explain the evolution of net foreign assets positions. In additions, we highlight the role that 'external wealth' plays in determining the behaviour of the trade balance, and we provide some evidence that a portfolio balance effects exists: real interest rate differentials are inversely realted to net foreign asset positions
Optimal taxation of human and physical capital in endogenous growth models by Nouriel Roubini( Book )

10 editions published in 1994 in English and held by 69 WorldCat member libraries worldwide

Fiscal rules and the budget process by Gian Maria Milesi-Ferretti( Book )

19 editions published between 1996 and 1997 in English and held by 65 WorldCat member libraries worldwide

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A global perspective on external positions by Philip R Lane( Book )

20 editions published in 2005 in English and held by 65 WorldCat member libraries worldwide

"The paper highlights the increased dispersion in net external positions in recent years, particularly among industrial countries. It provides a simple accounting framework that disentangles the factors driving the accumulation of external assets and liabilities (such as trade imbalances, investment income flows, and capital gains) for major external creditors and debtors. It also examines the factors driving the foreign asset portfolio of international investors, with a special focus on the weight of U.S. liabilities in the rest of the world's stock of external assets. Finally, it relates the empirical evidence to the current debate about the roles of portfolio balance effects and exchange rate adjustment in shaping the external adjustment process"--National Bureau of Economic Research web site
The external wealth of nations : measures of foreign assets and liabilities for industrial and developing countries by Philip R Lane( Book )

20 editions published between 1999 and 2001 in English and held by 61 WorldCat member libraries worldwide

Capital flows are closely monitored, but surprisingly little is known about the stocks of external assets and liabilities held by countries, especially in the developing world. This paper constructs estimates of foreign assets and liabilities and their equity and debt subcomponents for 66 industrial and developing countries for the period 1970-97. It explores the sensitivity of estimates of stock positions to the treatment of valuation effects not captured in balance of payments data. Finally, it characterizes the stylized facts of estimated stocks and asks whether there are trends in net foreign asset positions and differences in debt-equity ratios across countries
Determinants of Korean trade flows and their geographical destination by Lorenzo Giorgianni( Book )

16 editions published in 1997 in English and held by 57 WorldCat member libraries worldwide

Korea's growth performance during the past three decades has been impressive. The economy has evolved from a closed and backward agricultural economy to an industrial country member of the OECD. An increasingly outward-oriented development strategy has played an important role in Korea's strong growth performance. During the past 25 years, the volume of Korean exports has grown at an average annual rate of over 15 percent; as a result, Korea's share of world trade is now over 2 percent, four times higher than 20 years ago. Are traditional explanations of the dynamics of trade flows consistent with these observations? This paper addresses this question by investigating the determinants of Korean trade flows and their geographical destination during this period of substantial economic transformation
External wealth, the trade balance, and the real exchange rate by Philip R Lane( Book )

20 editions published between 2001 and 2002 in English and held by 53 WorldCat member libraries worldwide

This paper examines the link between the net foreign asset position, the trade balance and the real exchange rate. In particular, it decomposes the impact of a country's net foreign asset position ("external wealth") on its long-run real exchange rate into two mechanisms: the relation between external wealth and the trade balance; and, holding other determinants fixed, a relation between the trade balance and the real exchange rate. It also provides additional evidence that the relative price of nontradables is an important channel linking the trade balance and the real exchange rate
International financial integration by Philip R Lane( Book )

19 editions published in 2003 in English and held by 41 WorldCat member libraries worldwide

In recent decades, the foreign assets and liabilities of advanced economies have grown rapidly relative to GDP, with the increase in gross cross-holdings far exceeding changes in the size of net positions. Moreover, the portfolio equity and FDI categories have grown in importance relative to international debt stocks. This paper describes the broad trends in international financial integration for a sample of industrial countries and seeks to explain the cross-country and time-series variation in the size of international balance sheets. It also examines the behavior of the rates of return on foreign assets and liabilities, relating them to "market" returns
The external wealth of nations mark II : revised and extended estimates of foreign assets and liabilities, 1970-2004 by Philip R Lane( Book )

18 editions published in 2006 in English and held by 28 WorldCat member libraries worldwide

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Fundamentals at odds? : the U.S. current account deficit and the dollar by Gian Maria Milesi-Ferretti( Book )

17 editions published in 2008 in English and held by 25 WorldCat member libraries worldwide

The real effective exchange rate of the dollar is close to its minimum level for the past 4 decades (as of September 2008). At the same time, however, the U.S. trade and current account deficits remain large and, absent a significant correction in coming years, would contribute to a further accumulation of U.S. external liabilities. The paper discusses thetension between these two aspects of the dollar assessment, and what factors can help reconcile them. It focuses in particular on the terms of trade, adjustment lags, and measurement issues related to both the real effective exchange rate and the current account balance
External adjustment and the global crisis by Philip R Lane( Book )

14 editions published in 2011 in English and held by 20 WorldCat member libraries worldwide

The period preceding the global financial crisis was characterized by a substantial widening of current account imbalances across the world. Since the onset of the crisis, these imbalances have contracted to a significant extent. In this paper, we analyze the ongoing process of external adjustment in advanced economies and emerging markets. We find that countries whose pre- crisis current account balances were in excess of what could be explained by standard economic fundamentals have experienced the largest contractions in their external balance. We subsequently examine the contributions of real exchange rates, domestic demand and domestic output to the adjustment process (allowing for differences across exchange rate regimes) and find that external adjustment in deficit countries was achieved primarily through demand compression, rather than expenditure switching. Finally, we show that other investment flows was the main adjustment category in the financial account but that ECB liquidity and official external assistance have cushioned the exit of private capital flows for some countries
Capital flows to Central and Eastern Europe by Philip R Lane( Book )

11 editions published in 2006 in English and held by 16 WorldCat member libraries worldwide

We examine the evolution of the net external asset positions of Central and Eastern Europe (CEEC) countries over the past decade, with a strong emphasis on the composition of their international balance sheets. We assess the extent of their international financial integration, compared with the advanced economies and other emerging markets, and highlight the salient features of their external capital structure in terms of the relative importance of FDI, portfolio equity, and external debt. In addition, we briefly describe the country and currency composition of their external liabilities. Finally, we explore the implications of the accumulated stock of external liabilities for future trade and current account balances
External imbalances in the Euro area by Ruo Chen( Book )

4 editions published in 2012 in English and held by 1 WorldCat member library worldwide

The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area factors and to external trade shocks. We argue that the traditional explanations for the rising imbalances are correct, but are incomplete. We uncover a large impact of declines in export competitiveness and asymmetric trade developments vis-à-vis the rest of the world ?in particular vis-à-vis China, Central and Eastern Europe, and oil exporters- on the external balance of euro area debtor countries. While current account imbalances of euro area deficit countries vis-à-vis th
 
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Current-account sustainability
Alternative Names
Ferretti, Gian Maria Milesi-.

Milesi-Ferretti, G.

Milesi-Ferretti, G.M.

Milesi-Ferretti, Gian M.

Milesi Ferretti, Gian Maria

Languages
English (337)

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