 Model of the U.S. Current AccountInternational Monetary Fund No 1988/027, IMF Working Papers from International Monetary Fund Abstract: This paper presents an econometric model of U.S. current account transactions. The model is used to analyze the factors behind the deterioration in the U.S. external position during the 1980s and to examine the sensitivity of the U.S. current account balance to changes in factors which are its major determinants. The results suggest that the appreciation of the U.S. dollar and relatively faster economic growth in the United States account for most of the rise in the U.S. external deficit. The results also indicate that the depreciation of the dollar since March 1985 has contributed to a substantial improvement in the U.S. current account balance relative to what it otherwise might have been. Keywords: WP; net; dollar; price; value; nonagricultural export price equation; price competitiveness; net effect; real value; liability position; merchandise trade balance; Merchandise export; effects of change; current account transaction; value of the dollar; price variable; dollar export; Exports; Current account balance; Trade balance; Current account; Personal income; Eastern Europe (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1988/027 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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