Details about Thomas Klitgaard

Access statistics for papers by Thomas Klitgaard.

Last updated 2025-04-24. Update your information in the RePEc Author Service.

Short-id: pkl65

Working Papers

2026

1. China’s Electric Trade
   Liberty Street Economics, Federal Reserve Bank of New York
2. Honey, Who Shrunk the U.S. Income Surplus?
   Liberty Street Economics, Federal Reserve Bank of New York

2025

3. A Country‑Specific View of Tariffs
   Liberty Street Economics, Federal Reserve Bank of New York
4. Why Does the U.S. Always Run a Trade Deficit?
   Liberty Street Economics, Federal Reserve Bank of New York
5. Will Peak Demand Roil Global Oil Markets?
   Liberty Street Economics, Federal Reserve Bank of New York

2024

6. Can Electric Cars Power China’s Growth?
   Liberty Street Economics, Federal Reserve Bank of New York
7. What Was Up with Grocery Prices?
   Liberty Street Economics, Federal Reserve Bank of New York

2023

8. Assessing the Outlook for Employment across Industries
   Liberty Street Economics, Federal Reserve Bank of New York
9. Spending Down Pandemic Savings Is an “Only-in-the-U.S.” Phenomenon
   Liberty Street Economics, Federal Reserve Bank of New York

2022

10. How Have the Euro Area and U.S. Labor Market Recoveries Differed?
    Liberty Street Economics, Federal Reserve Bank of New York
11. The Disconnect between Productivity and Profits in U.S. Oil and Gas Extraction
    Liberty Street Economics, Federal Reserve Bank of New York

2021

12. How Much Have Consumers Spent on Imports during the Pandemic?
    Liberty Street Economics, Federal Reserve Bank of New York
13. Is the United States Relying on Foreign Investors to Finance Its Bigger Budget Deficit?
    Liberty Street Economics, Federal Reserve Bank of New York
14. What Is behind the Global Jump in Personal Saving during the Pandemic?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)

2020

15. Has the Pandemic Reduced U.S. Remittances Going to Latin America?
    Liberty Street Economics, Federal Reserve Bank of New York
16. Japan’s Experience with Yield Curve Control
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
17. Reconsidering the Phase One Trade Deal with China in the Midst of the Pandemic
    Liberty Street Economics, Federal Reserve Bank of New York
18. W(h)ither U.S. Crude Oil Production?
    Liberty Street Economics, Federal Reserve Bank of New York

2019

19. Does a Data Quirk Inflate China’s Travel Services Deficit?
    Liberty Street Economics, Federal Reserve Bank of New York
20. How Has Germany's Economy Been Affected by the Recent Surge in Immigration?
    Liberty Street Economics, Federal Reserve Bank of New York
21. The Perplexing Co-Movement of the Dollar and Oil Prices
    Liberty Street Economics, Federal Reserve Bank of New York View citations (3)
22. Who Pays the Tax on Imports from China?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)

2018

23. Is the United States Relying on Foreign Investors to Fund Its Larger Budget Deficit?
    Liberty Street Economics, Federal Reserve Bank of New York
24. Recycling Oil Revenue
    Liberty Street Economics, Federal Reserve Bank of New York
25. The Evolution of Mexico’s Merchandise Trade Balance
    Liberty Street Economics, Federal Reserve Bank of New York
26. Will Demographic Headwinds Hobble China's Economy?
    Liberty Street Economics, Federal Reserve Bank of New York

2017

27. The End of China's Export Juggernaut
    Liberty Street Economics, Federal Reserve Bank of New York
28. The Need for Very Low Interest Rates in an Era of Subdued Investment Spending
    Liberty Street Economics, Federal Reserve Bank of New York

2016

29. Crisis Chronicles: Gold, Deflation, and the Panic of 1893
    Liberty Street Economics, Federal Reserve Bank of New York
30. Crisis Chronicles: The Long Depression and the Panic of 1873
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
31. Inflation and Japan's Ever-Tightening Labor Market
    Liberty Street Economics, Federal Reserve Bank of New York
32. The Rapidly Changing Nature of Japan’s Public Debt
    Liberty Street Economics, Federal Reserve Bank of New York
33. The Turnaround in Private and Public Financial Outflows from China
    Liberty Street Economics, Federal Reserve Bank of New York
34. What Tracks Commodity Prices?
    Liberty Street Economics, Federal Reserve Bank of New York

2015

35. Crisis Chronicles: Defensive Suspension and the Panic of 1857
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
36. Crisis Chronicles: The Man on the Twenty-Dollar Bill and the Panic of 1837
    Liberty Street Economics, Federal Reserve Bank of New York
37. Do Asset Purchase Programs Push Capital Abroad?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
38. Falling Oil Prices and Global Saving
    Liberty Street Economics, Federal Reserve Bank of New York
39. The Importance of Commodity Prices in Understanding U.S. Import Prices and Inflation
    Liberty Street Economics, Federal Reserve Bank of New York

2014

40. Comparing U.S. and Euro Area Unemployment Rates
    Liberty Street Economics, Federal Reserve Bank of New York
41. Demographic Trends and Growth in Japan and the United States
    Liberty Street Economics, Federal Reserve Bank of New York
42. High Unemployment and Disinflation in the Euro Area Periphery Countries
    Liberty Street Economics, Federal Reserve Bank of New York View citations (2)
43. The Declining U.S. Reliance on Foreign Investors
    Liberty Street Economics, Federal Reserve Bank of New York

2013

44. Capital Flight inside the Euro Area: Cooling Off a Fire Sale
    Liberty Street Economics, Federal Reserve Bank of New York
45. Foreign Borrowing in the Euro Area Periphery: The End Is Near
    Liberty Street Economics, Federal Reserve Bank of New York
46. Japan’s Missing Wall of Money
    Liberty Street Economics, Federal Reserve Bank of New York

2012

47. Euro Area Spending Imbalances and the Sovereign Debt Crisis
    Liberty Street Economics, Federal Reserve Bank of New York
48. Income Flows from U.S. Foreign Assets and Liabilities
    Liberty Street Economics, Federal Reserve Bank of New York
49. The Different Paths of Greece and Spain to High Unemployment
    Liberty Street Economics, Federal Reserve Bank of New York

2011

50. Central Bank Imbalances in the Euro Area
    Liberty Street Economics, Federal Reserve Bank of New York
51. The Vanishing U.S.-E.U. Employment Gap
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
52. Would a Stronger Renminbi Narrow the U.S.-China Trade Imbalance?
    Liberty Street Economics, Federal Reserve Bank of New York

2006

53. Borrowing without debt? Understanding the U.S. international investment position
    Staff Reports, Federal Reserve Bank of New York View citations (25)

1992

54. U.S. imports in the 1980s: some insights from a disaggregate analysis
    Research Paper, Federal Reserve Bank of New York

1988

55. Managing exchange rates: the experience of the European monetary system
    Research Paper, Federal Reserve Bank of New York

Journal Articles

2009

1. Grandeur et décadence de l’accumulation d’actifs étrangers: causes et conséquences
   Revue d'Économie Financière, 2009, 9, (1), 189-205
2. The Rise and Fall of Sovereign Wealth Accumulation: Causes and Consequences
   Revue d'Économie Financière, 2009, 9, (1), 179-193

2007

3. Borrowing Without Debt? Understanding the U.S. International Investment Position
   Business Economics, 2007, 42, (1), 17-27 View citations (4)