United States as a Debtor Nation, The

William Cline

in Peterson Institute Press: All Books from Peterson Institute for International Economics

Abstract: The United States has once again entered into a period of large external imbalances. This time the current account deficit, at nearly 6 percent of GDP in 2004, is much larger than in the last episode, when the deficit peaked at about 3.5 percent of GDP in 1987. Moreover, the deficit is on track to become substantially larger over the next several years. This study examines whether the large and growing current account deficit is a problem, and if so, how the problem can be solved. A central policy conclusion of this study is that it is increasingly important that the United States reduce its external current account deficit. This deficit is no longer benign as it arguably was in the late 1990s when it was financing high investment instead of high consumption and large government dissaving.

Date: 2005
ISBN: 978-0-88132-399-3
Note: A joint PIIE-CGD publication
References: Add references at CitEc
Citations: View citations in EconPapers (119)

Downloads: (external link)
https://www.piie.com/bookstore/united-states-debtor-nation (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iie:ppress:3993

Access Statistics for this book

More books in Peterson Institute Press: All Books from Peterson Institute for International Economics 1750 Massachusetts Ave., NW, Washington, DC. Contact information at EDIRC.
Bibliographic data for series maintained by Peterson Institute webmaster ().