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dc.contributor.authorBongers-Chicano, Aneli Maria 
dc.contributor.authorTorres-Chacon, Jose Luis 
dc.date.accessioned2019-02-06T10:31:36Z
dc.date.available2019-02-06T10:31:36Z
dc.date.created2019
dc.date.issued2019-02-06
dc.identifier.urihttps://hdl.handle.net/10630/17263
dc.description.abstractThe relationship between the fiscal policy and the current account balance is an open question for open economies analysis. Traditional view leads to the so-called "twin de cits hypothesis", which establishes a direct relationship between the government budget de cit and the current account de cit. However, intertemporal approach of the current account doubts on the existence of such a relationship. In this paper, we study this twin deficits hypothesis using a dynamic general equilibrium model in a monetary union context, in which it is considered the role of international investors in financing government de cit. We nd that the proportion of government debt purchased by foreign investment is a key factor in explaining the relationship between fiscal policy and the current account. In general, we obtain that the e¤ects of di¤erent shocks on the current account dynamics are magnified as the proportion of government debt held by foreign investors increases.en_US
dc.description.sponsorshipUniversidad de Málaga. Campus de Excelencia Internacional Andalucía Tech.en_US
dc.language.isoengen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectPolítica fiscalen_US
dc.subject.otherFiscal policyen_US
dc.subject.otherCurrent Accounten_US
dc.subject.otherTwin deficits hypothesisen_US
dc.titleFiscal Policy, the Current Account, and the Twin Deficits Hypothesisen_US
dc.typeinfo:eu-repo/semantics/conferenceObjecten_US
dc.centroFacultad de Ciencias Económicas y Empresarialesen_US
dc.relation.eventtitleEncuentro de Economía Públicaen_US
dc.relation.eventplaceOviedoen_US
dc.relation.eventdate24-25/01/2019en_US


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