Commentary : the end of large current account deficits : 1970-2002 : are there lessons for the United States?
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Maurice Obstfeld & Kenneth Rogoff, 2007.
"The Unsustainable US Current Account Position Revisited,"
NBER Chapters, in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 339-376,
National Bureau of Economic Research, Inc.
- Maurice Obstfeld & Kenneth S. Rogoff, 2005. "The unsustainable U.S. current account position revisited," Proceedings, Federal Reserve Bank of San Francisco, issue Feb.
- Maurice Obstfeld & Kenneth S. Rogoff, 2005. "The unsustainable U.S. current account position revisited," Proceedings, Federal Reserve Bank of San Francisco.
- Maurice Obstfeld & Kenneth Rogoff & Richard Clarida, "undated". "The Unsustainable U S Current Account Position Revisited," Working Paper 14901, Harvard University OpenScholar.
- Obstfeld, Maurice & Rogoff, Kenneth S, 2005. "The Unsustainable US Current Account Position Revisited," Center for International and Development Economics Research, Working Paper Series qt4f63x50j, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
- Obstfeld, Maurice & Rogoff, Kenneth S, 2005. "The Unsustainable US Current Account Position Revisited," Department of Economics, Working Paper Series qt4f63x50j, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Maurice Obstfeld & Kenneth Rogoff, 2004. "The Unsustainable US Current Account Position Revisited," NBER Working Papers 10869, National Bureau of Economic Research, Inc.
- Rogoff, Kenneth & Obstfeld, Maurice, 2005. "The Unsustainable US Current Account Position Revisited," CEPR Discussion Papers 5416, C.E.P.R. Discussion Papers.
- Luis Felipe Céspedes & Roberto Chang & Andrés Velasco, 2004.
"Balance Sheets and Exchange Rate Policy,"
American Economic Review, American Economic Association, vol. 94(4), pages 1183-1193, September.
- Luis Felipe Cespedes & Roberto Chang & Andres Velasco, 2000. "Balance Sheets and Exchange Rate Policy," NBER Working Papers 7840, National Bureau of Economic Research, Inc.
- Gagnon, Joseph E., 2009.
"Currency crashes and bond yields in industrial countries,"
Journal of International Money and Finance, Elsevier, vol. 28(1), pages 161-181, February.
- Joseph E. Gagnon, 2005. "Currency Crashes and Bond Yields in Industrial Countries," International Finance Discussion Papers 837, Board of Governors of the Federal Reserve System (U.S.).
- Pierre-Olivier Gourinchas & Hélène Rey, 2007.
"From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege,"
NBER Chapters, in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 11-66,
National Bureau of Economic Research, Inc.
- Pierre-Olivier Gourinchas & Hélène Rey, 2005. "From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege," NBER Working Papers 11563, National Bureau of Economic Research, Inc.
- Rey, Hélène & Gourinchas, Pierre-Olivier, 2005. "From World Banker to World Venture Capitalist: US External Adjustment and The Exorbitant Privilege," CEPR Discussion Papers 5220, C.E.P.R. Discussion Papers.
- Gourinchas, Pierre-Olivier & Rey, Hélène, 2005. "From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege," CEPREMAP Working Papers (Docweb) 0606, CEPREMAP.
- Muge Adalet & Barry Eichengreen, 2007.
"Current Account Reversals: Always a Problem?,"
NBER Chapters, in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 205-246,
National Bureau of Economic Research, Inc.
- Barry Eichengreen & Muge Adalet, 2005. "Current Account Reversals: Always a Problem?," NBER Working Papers 11634, National Bureau of Economic Research, Inc.
- Maria Milesi-Ferretti, Gian & Razin, Assaf, 1998.
"Sharp reductions in current account deficits An empirical analysis,"
European Economic Review, Elsevier, vol. 42(3-5), pages 897-908, May.
- Mr. Gian M Milesi-Ferretti & Assaf Razin, 1997. "Sharp Reductions in Current Account Deficits: An Empirical Analysis," IMF Working Papers 1997/168, International Monetary Fund.
- Gian Maria Milesi-Ferretti & Assaf Razin, 1997. "Sharp Reductions in Current Account Deficits: An Empirical Analyis," NBER Working Papers 6310, National Bureau of Economic Research, Inc.
- C. Fred Bergsten & John Williamson (ed.), 2003. "Dollar Overvaluation and the World Economy," Peterson Institute Press: All Books, Peterson Institute for International Economics, number sr16, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Carol C. Bertaut & Steven B. Kamin & Charles P. Thomas, 2008. "How long can the unsustainable U.S. current account deficit be sustained?," International Finance Discussion Papers 935, Board of Governors of the Federal Reserve System (U.S.).
- Luiz de Mello & Pier Carlo Padoan & Linda Rousová, 2012.
"Are Global Imbalances Sustainable? Shedding Further Light on the Causes of Current Account Reversals,"
Review of International Economics, Wiley Blackwell, vol. 20(3), pages 489-516, August.
- Luiz de Mello & Pier Carlo Padoan & Linda Rousová, 2010. "Are Global Imbalances Sustainable?: Shedding Further Light on the Causes of Current Account Reversals," OECD Economics Department Working Papers 813, OECD Publishing.
- Christopher M. Meissner & Alan M. Taylor, 2006.
"Losing our marbles in the new century?: the great rebalancing in historical perspective,"
Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 51.
- Christopher M. Meissner & Alan M. Taylor, 2006. "Losing our Marbles in the New Century? The Great Rebalancing in Historical Perspective," NBER Working Papers 12580, National Bureau of Economic Research, Inc.
- Taylor, Alan M. & Meissner, Christopher M, 2006. "Losing our Marbles in the New Century? The Great Rebalancing in Historical Perspective," CEPR Discussion Papers 5917, C.E.P.R. Discussion Papers.
- Bernardina Algieri & Thierry Bracke, 2011.
"Patterns of Current Account Adjustment—Insights from Past Experience,"
Open Economies Review, Springer, vol. 22(3), pages 401-425, July.
- Algieri, Bernardina & Bracke, Thierry, 2007. "Patterns of current account adjustment: insights from past experience," Working Paper Series 762, European Central Bank.
- Bernardina Algieri & Thierry Bracke, 2007. "Patterns of Current Account Adjustment – Insights from Past Experience," CESifo Working Paper Series 2029, CESifo.
- Koutchogna Kokou Edem ASSOGBAVI, 2021.
"Global Account Imbalances since the Global Financial Crisis: Determinants, Implications and Challenges for the Global Economy,"
Bordeaux Economics Working Papers
2021-06, Bordeaux School of Economics (BSE).
- Koutchogna Kokou Assogbavi, 2021. "Global Account Imbalances since the Global FinancialCrisis: Determinants, Implications and Challenges forthe Global Economy," Working Papers hal-03258293, HAL.
- Tille, Cédric, 2008.
"Financial integration and the wealth effect of exchange rate fluctuations,"
Journal of International Economics, Elsevier, vol. 75(2), pages 283-294, July.
- Cédric Tille, 2005. "Financial integration and the wealth effect of exchange rate fluctuations," Staff Reports 226, Federal Reserve Bank of New York.
- Cedric Tille, 2005. "Financial Integration and the Wealth Effect of Exchange Rate Fluctuations," 2005 Meeting Papers 282, Society for Economic Dynamics.
- Barry Eichengreen, 2007.
"Insurance Underwriter or Financial Development Fund: What Role for Reserve Pooling in Latin America?,"
Open Economies Review, Springer, vol. 18(1), pages 27-52, February.
- Barry Eichengreen, 2006. "Insurance Underwriter or Financial Development Fund: What Role for Reserve Pooling in Latin America?," NBER Working Papers 12451, National Bureau of Economic Research, Inc.
- Eichengreen, Barry, 2006. "Insurance underwriter or financial development fund: what role for reserve pooling in Latin America?," Financiamiento para el Desarrollo 5160, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
- Antonis Adam & Thomas Moutos, 2017.
"The Modality of Fiscal Consolidation and Current Account Adjustment,"
CESifo Economic Studies, CESifo Group, vol. 63(2), pages 162-181.
- Antonis Adam & Thomas Moutos, 2015. "The Modality of Fiscal Consolidation and Current Account Adjustment," CESifo Working Paper Series 5451, CESifo.
- Sebastian Edwards, 2005.
"The end of large current account deficits : 1970-2002 : are there lessons for the United States?,"
Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 205-268.
- Sebastian Edwards, 2005. "The End of Large Current Account Deficits, 1970-2002: Are There Lessons for the United States?," NBER Working Papers 11669, National Bureau of Economic Research, Inc.
- Bineau, Yannick, 2008. "Équilibre extérieur et taux de change réel : apport du modèle de croissance contrainte par la balance des paiements," L'Actualité Economique, Société Canadienne de Science Economique, vol. 84(3), pages 263-285, septembre.
- Lars Calmfors & Giancarlo Corsetti & Seppo Honkapohja & John Kay & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2006. "Chapter 2: Global Imbalances," EEAG Report on the European Economy, CESifo, vol. 0, pages 50-67, March.
- Papaioannou, Elias & Portes, Richard & Siourounis, Gregorios, 2006.
"Optimal currency shares in international reserves: The impact of the euro and the prospects for the dollar,"
Journal of the Japanese and International Economies, Elsevier, vol. 20(4), pages 508-547, December.
- Papaioannou, Elias & Portes, Richard & Siourounis, Gregorios, 2006. "Optimal currency shares in international reserves: the impact of the euro and the prospects for the dollar," Working Paper Series 694, European Central Bank.
- Elias Papaioannou & Richard Portes & Gregorios Siourounis, 2006. "Optimal Currency Shares in International Reserves: The Impact of the Euro and the Prospects for the Dollar," NBER Working Papers 12333, National Bureau of Economic Research, Inc.
- Elias Papaioannou & Richard Portes & Gregorios Siourounis, 2006. "Optimal Currency Shares in Iternational Reserves: The Impact of the Euro and the Prospects for the Dollar," Post-Print halshs-00754634, HAL.
- Portes, Richard & Papaioannou, Elias & Siourounis, Gregorios, 2006. "Optimal Currency Shares in International Reserves: The Impact of the Euro and the Prospects for the Dollar," CEPR Discussion Papers 5734, C.E.P.R. Discussion Papers.
- Lane, Philip R. & Milesi-Ferretti, Gian Maria, 2012.
"External adjustment and the global crisis,"
Journal of International Economics, Elsevier, vol. 88(2), pages 252-265.
- Philip R. Lane & Gian Maria Milesi-Ferretti, 2011. "External Adjustment and the Global Crisis," NBER Chapters, in: Global Financial Crisis, National Bureau of Economic Research, Inc.
- Milesi-Ferretti, Gian Maria & Lane, Philip, 2011. "External Adjustment and the Global Crisis," CEPR Discussion Papers 8546, C.E.P.R. Discussion Papers.
- Gian Maria Milesi-Ferretti & Philip Lane, 2011. "External Adjustment and the Global Crisis," The Institute for International Integration Studies Discussion Paper Series iiisdp369, IIIS.
- Mr. Gian M Milesi-Ferretti & Mr. Philip R. Lane, 2011. "External Adjustment and the Global Crisis," IMF Working Papers 2011/197, International Monetary Fund.
- Philip R. Lane & Gian Maria Milesi Ferretti, 2011. "External Adjustment and the Global Crisis," NBER Working Papers 17352, National Bureau of Economic Research, Inc.
- Dong, Wei, 2012.
"The role of expenditure switching in the global imbalance adjustment,"
Journal of International Economics, Elsevier, vol. 86(2), pages 237-251.
- Wei Dong, 2010. "The Role of Expenditure Switching in the Global Imbalance Adjustment," Staff Working Papers 10-16, Bank of Canada.
- Richard H. Clarida & Manuela Goretti & Mark P. Taylor, 2007.
"Are There Thresholds of Current Account Adjustment in the G7?,"
NBER Chapters, in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 169-204,
National Bureau of Economic Research, Inc.
- Richard H. Clarida & Manuela Goretti & Mark P. Taylor, 2006. "Are There Thresholds of Current Account Adjustment in the G7?," NBER Working Papers 12193, National Bureau of Economic Research, Inc.
- D.D. Evans, Martin, 2017.
"External balances, trade and financial conditions,"
Journal of International Economics, Elsevier, vol. 107(C), pages 165-184.
- Martin D D Evans, 2015. "External Balances, Trade and Financial Conditions," Working Papers gueconwpa~15-15-08, Georgetown University, Department of Economics.
- Evans, Martin, 2015. "External Balances, Trade and Financial Conditions," MPRA Paper 66201, University Library of Munich, Germany.
- Bora Durdu & Enrique G. Mendoza & Marco E. Terrones, 2009.
"On the solvency of nations: are global imbalances consistent with intertemporal budget constraints?,"
International Finance Discussion Papers
975, Board of Governors of the Federal Reserve System (U.S.).
- Mr. Enrique G. Mendoza & Mr. Marco Terrones & Ceyhun Bora Durdu, 2010. "On the Solvency of Nations: Are Global Imbalances Consistent with Intertemporal Budget Constraints?," IMF Working Papers 2010/050, International Monetary Fund.
- Bergant, Katharina, 2021. "The role of stock-flow adjustment during the global financial crisis," Journal of International Money and Finance, Elsevier, vol. 110(C).
- Ellen R. McGrattan & Edward C. Prescott, 2010.
"Technology Capital and the US Current Account,"
American Economic Review, American Economic Association, vol. 100(4), pages 1493-1522, September.
- Edward Prescott & Ellen McGrattan, 2007. "Technology Capital and the U.S. Current Account," 2007 Meeting Papers 90, Society for Economic Dynamics.
- Ellen R McGrattan & Edward C Prescott, 2008. "Technology Capital and the U.S. Current Account," Levine's Bibliography 122247000000001827, UCLA Department of Economics.
- Ellen R. McGrattan & Edward C. Prescott, 2008. "Technology Capital and the U.S. Current Account," NBER Working Papers 13983, National Bureau of Economic Research, Inc.
- Ellen R. McGrattan & Edward C. Prescott, 2007. "Technology capital and the U.S. current account," Working Papers 646, Federal Reserve Bank of Minneapolis.
- Ellen R. McGrattan & Edward C. Prescott, 2009. "Technology capital and the U.S. current account," Staff Report 406, Federal Reserve Bank of Minneapolis.
- Choi, Horag & Mark, Nelson C. & Sul, Donggyu, 2008.
"Endogenous discounting, the world saving glut and the U.S. current account,"
Journal of International Economics, Elsevier, vol. 75(1), pages 30-53, May.
- Horag Choi & Nelson C. Mark & Donggyu Sul, 2007. "Endogenous Discounting, the World Saving Glut and the U.S. Current Account," NBER Working Papers 13571, National Bureau of Economic Research, Inc.
More about this item
Keywords
Greenspan; Alan; Interest rates; Deficit financing;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedkpr:y:2005:i:aug:p:269-276. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Zach Kastens (email available below). General contact details of provider: https://edirc.repec.org/data/frbkcus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.