, 3 tweets, 2 min read Read on Twitter
Interesting chart in BOE paper (h/t @DPManchee).

Paper suggests that asymmetric trade liberalisation of goods (lot) relative services (not so much) could explain why UK (and other net-services exporters) current account deficit bigger than should be.

bankofengland.co.uk/-/media/boe/fi…
I'm ... not sure. Need to think about this some more. Not convinced of causal link between current accounts and trade policy. Hmmmm.
Paper estimates that UK current account deficit would be 0.7% of GDP narrower if all countries reduced services trade barriers to the level of least restrictive country.
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