Global imbalances

Conceptually, the global imbalances can be decomposed into three components cyclical, structural and institutional.

It was necessary to provide larger margins of safety to deal with financial imbalances, which built up during cyclical upswings and downturns.

This calls for the introduction of a modified, system wide approach to prudential regulation which takes into account the macroeconomic consequences of financial imbalances and the inherent pro cyclicality of financial markets.

Participants deplored the continued net transfer of financial resources from developing to developed countries and called for efforts to reduce global imbalances.

These imbalances could be reduced by the US using fiscal rather than monetary stimulus, and China allowing the renminbi to appreciate in an orderly manner.

But the way housing finance is organized differs enormously from country to country, and these differences explain the recent global imbalances and financial crashes.

However, perturbations cause the orbital elements to change over time.

And these hackers had a word for those mysterious bugs in telegraph systems that they called bugs.

Institutionally, new rules get enacted to correct previous dysfunctions.

If progress is not made in reducing the projected fiscal imbalances and limiting the growth of bank reserves, reduced demand for dollar assets could cause the dollar to fall more rapidly and the interest rate on dollar securities to rise.

Not surprisingly, our survey group ranked chronic fiscal imbalances second among 50 global risks that are most likely to manifest themselves over the next ten years.

More importantly, reducing the global imbalances by shifting financial assets and resources among the developed countries will not reduce the gap between the rich and the poor in the world.

Our collective commitment and efforts are needed to correct the imbalances and disparities in the world.

Consequently, it stresses the need to establish larger margins of safety as financial imbalances build up during the upswing in order both to restrain excesses and to give more scope to support losses in the downturn.

Finally, there are institutional factors, particularly in international monetary arrangements, that contribute to global imbalances.

Even if the imbalances were sustainable, or could be adjusted in a smooth manner, the magnitude and skewed distribution of the imbalances suggest a less than efficient and equitable allocation of global resources between developed and developing countries.

Efforts to strengthen the various arms of the United Nations system are needed to tackle institutional imbalances.

Equally, each component has different policy implications for the adjustment of the global imbalances.

However, as discussed above, many factors other than the relative prices of tradable goods determine the imbalances, particularly in the case of the dominant reserve currency.

Emphasizing the need to address those imbalances and asymmetries in international finance, trade, technology and investment patterns that have a negative impact on development prospects for developing countries, with a view to minimizing such impacts,

Despite the improvements in the state of health of the Mexican population over six decades and three generations of health system reforms, it has not yet been possible to overcome the financial imbalances or unequal access to health care.

The increase in the global imbalances over the past few years has been driven partly by cyclical factors.

Addressing global imbalances and restoring and sustaining balanced growth to the world economy require vigorous collaborative efforts.

Emphasizing the need to address those imbalances and asymmetries in international finance, trade, technology and investment patterns that have a negative impact on development prospects for developing countries, with a view to minimizing those impacts,

Moreover, in the view of many ministers, several problems persisted major imbalances in the world economy, net outward transfer of financial resources from developing countries and a volatile global environment.

Their efforts to self insure, by, say, building up their foreign exchange reserves, perpetuate global economic imbalances.

Both may essentially suffer from the same type of irregularities and thus affect the parties' rights in the same way.

Irregularities in the evidence were brought to the attention of the relevant Panel of Commissioners for whatever action it considered appropriate.

The Secretary General's report clearly points out that at present, developing countries are often denied a level playing field to compete in global trade because rich countries use a variety of tariffs, quotas and subsidies to restrict access to their own markets and shelter their own producers.

In particular, such means as giving incremental yearly increases or redressing the margin imbalances at individual grades could be explored.

1.115 To improve access of refugee population to essential hospital services by implementing affordable and equitable hospitalization policies, adjusting the imbalance in financial allocations among fields and achieving cost efficiency gains by rationalization of referral practices.

Equally important, however, is the reduction of economic imbalances and European policy coordination to enable growth.

To answer these questions, it is important to understand the imbalances underlying dynamics.

Aware as we are of our common responsibilities towards the least developed countries, we should not exacerbate the imbalances of our planet.

Each component of the global imbalances has different implications for the world economy in terms of sustainability, efficiency and equity.

These imbalances can be redressed only with great effort, if at all, and only if one accepts a decade of stagnation.

To continue to engage all partners on the issue of global systemic imbalances in areas such as trade, finance, money and technology.

The Committee urges the State party to promote equal access to social benefits and social services by striving to correct regional imbalances.

So what we've been able to do is to pinpoint where these disturbances are in the brain, and we've been able to intervene within these circuits in the brain to either turn them up or turn them down.

For any reform or trade regime to have a meaningful impact, these distortions should be corrected first.

Of course, billions of others around the world share the same dream. But the way housing finance is organized differs enormously from country to country, and these differences explain the recent global imbalances and financial crashes.

These imbalances could be reduced by the US using fiscal rather than monetary stimulus, and China allowing the renminbi to appreciate in an orderly manner. But domestic politics in both countries stand in the way.

Given the large global imbalances, effective macroeconomic coordination among leading countries (both developed and developing) appears critical for a smooth resolution of the major current account and fiscal deficits.

A completely fixed exchange rate rules out monetary policy initiative, and consequently makes adjustment to large external imbalances very difficult to carry out.