These topics are the subject of two special issues, the first in IMF Staff Papers, and the second in the Review of International Economics.

Figure 1 from Hamid Faruqee, Jaewoo Lee, “Global Dispersion of Current Accounts: Is the Universe Expanding?” (working paper version).

The IMF Staff Papers has published the proceedings from the current account sustainability conference Charles Engel and I convened in the Spring of 2008 (and discussed here). The papers included in this section, edited by Akito Matsumoto, are:

Special Section: Current Account Sustainability in Major Advanced Economies

• Introduction, Akito Matsumoto.
• Expected Consumption Growth from Cross-Country Surveys: Implications for Assessing International Capital Markets, Charles Engel and John H Rogers
• Global Dispersion of Current Accounts: Is the Universe Expanding?, Hamid Faruqee and Jaewoo Lee
• How Long Can the Unsustainable U.S. Current Account Deficit Be Sustained?, Carol C. Bertaut, Steven B. Kamin, and Charles P. Thomas
• Asset Prices and Current Account Fluctuations in G-7 Economies,
  Marcel Fratzscher and Roland Straub

• Global Imbalances, Productivity Differentials, and Financial Integration, by Suparna Chakraborty and Robert Dekle

Conference versions of the papers available here

Figure 9 from Joseph Gruber, Steven Kamin, “Do Differences in Financial Development Explain the Global Pattern of Current Account Imbalances?” working paper version.

The Review of International Economics special issue on “Global Liquidity” included the following papers:

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