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The changing nature of the U.S. balance of payments

Author

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  • Rebecca Hellerstein
  • Cédric Tille

Abstract

Earnings on cross-border investments figure only marginally in net estimates of the U.S. current account, but they represent an increasingly large share of gross flows between the United States and other nations. Because these earnings fluctuate much more sharply than trade flows, they can be expected to create permanently higher current account volatility. Such increased volatility is not necessarily grounds for concern, however; it reflects an international sharing of risk that provides a buffer against domestic economic uncertainty.

Suggested Citation

  • Rebecca Hellerstein & Cédric Tille, 2008. "The changing nature of the U.S. balance of payments," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 14(Jun).
    • Handle: RePEc:fip:fednci:y:2008:i:jun:n:v.14no.4
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    Cited by:

    1. Suwastika Naidu & Anand Chand & Atishwar Pandaram & Sunia Vosikata, 2024. "Electricity Consumption, Renewable Energy Production, and Current Account of Organisation for Economic Co-Operation and Development Countries: Implications for Sustainability," Sustainability, MDPI, vol. 16(9), pages 1-21, April.

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