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Rethinking the Twin Deficits [PDF]

, 2014
This article reexamines the thesis that fiscal deficits cause trade deficits and challenges this explanation of the twin deficits with the following propositions. Differences in competitiveness among nations do not lead to balanced trade. Using a Eurozone case study, the article discusses the nexus between competitiveness and the trade balance ...
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Brazil's twin deficits: An empirical examination

Atlantic Economic Journal, 1998
This paper examines empirically the causal relationship between budget deficits and trade deficits for Brazil from 1973:1Q through 1991:4Q. This relationship is investigated in the context of Granger's test of causality. The final prediction error criterion, as outlined by Hsiao [1981], is applied in determining the appropriate lag length of the two ...
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Twin Deficits in the European Countries

International Advances in Economic Research, 2013
Public debt is a burden on future electors and taxpayers. In the absence of constitutional constraints, the incumbent government may show the cost of some public expenditures or tax reductions toward the future by financing them via new debt. However, according to the Ricardian theorem of public debt, the burden of debt is always anticipated via ...
FORTE F, MAGAZZINO, COSIMO
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"Twin Deficits and Sustainability" [PDF]

, 2006
In the mid to late 1980s, the U.S. economy simultaneously producedÑfor the first time in the postwar periodÑhuge federal budget deficits as well as large current account deficits, together known as the Òtwin deficitsÓ (Blecker 1992; Rock1991). This generated much debate and hand-wringing, most of which focused on supposed Òcrowding-outÓ effects (Wray ...
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The twin deficit hypothesis in Egypt

Journal of Policy Modeling, 2018
Abstract We employ a new approach to the twin deficit hypothesis aimed at enhancing policy making in Egypt. In contrast to the conventional twin deficit hypothesis between the current account, which comprises many items out of governments’ scope of maneuvering, and the budget deficit, we track the causal link between Egypt’s merchandise trade deficit
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TWIN DEFICITS AND TURKEY ECONOMICS

2021
Çalışmanın amacı; literatürde de önemli tartışmalara neden olan cari işlemlerdeki açıklar ile bütçe açıkları arasındaki ilişkiyi, 1985-2017 yılları arasındaki veriler kullanılarak, Ricardocu Denklik Hipotezi ve Geleneksel Yaklaşım açısından incelenmiştir.
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The Twin Deficits Hypothesis: An Empirical Examination

Open Economies Review, 2019
The ‘twin deficits hypothesis’ (TDH) claims that there is a connection between fiscal and current account deficits. In its most extreme form, popularized by the ‘New Cambridge School’ in the 1970s, the argument was that, with equilibrium in the private sector, the size of the public sector deficit was proportional to, and the principal determinant of ...
Graham Bird, Eric Pentecost, Yanyan Yang
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Facing up to the Twin Deficits

Challenge, 1984
A year ago, in appearing before the House Banking Committee to discuss the Federal Reserve's monetary policy for the year ahead, I emphasized that, after too many years of pain and instability, we had an enormous opportunity to sustain growth for years to come in an environment of much greater price stability.
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Twin Deficits in European Transition Economies

2015
Abstract Deficits in fiscal and current account balances in a large number of countries reveal interesting implications of the causal relationship between internal and external imbalances. Empirical evidence about the occurrence of so-called twin deficits or twin surpluses provides crucial information about the validity of an ...
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Macroeconomic Policy and the Twin Deficits

1990
Many people think that the pressing economic problems facing the United States can be cured by eliminating its twin deficits - the budget deficit and the trade deficit - via a more stringent fiscal policy. In my view, however, these twin deficits are not the problem.
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