A hitchhiker’s guide to the U.S. current account problem

Owen Humpage

Economic Commentary, 2004, issue Oct

Abstract: The United States has run a current account deficit for the past 20 years, and, as a consequence, foreigners now hold unprecedented financial claims on the United States. At some point, foreigners will become reluctant to hold these claims and will set into motion a series of corrective economic adjustments. This Economic Commentary describes the interaction between our current account deficits and the broader economy and explains the problem that continued deficits pose.

Keywords: Budget deficits; Balance of payments (search for similar items in EconPapers)
Date: 2004
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