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来源类型Working Paper
规范类型报告
DOI10.3386/w15525
来源IDWorking Paper 15525
Current Account Fact and Fiction
David Backus; Espen Henriksen; Frederic Lambert; Christopher Telmer
发表日期2009-11-19
出版年2009
语种英语
摘要With US trade and current account deficits approaching 6% of GDP, some have argued that the country is "on the comfortable path to ruin" and that the required "adjustment'' may be painful. We suggest instead that things are fine: although national saving is low, the ratios of household and consolidated net worth to GDP remain high. In our view, the most striking features of the world at present are the low rates of investment and growth in some of the richest countries, whose surpluses account for about half of the US deficit. The result is that financial capital is flowing out of countries with low investment and growth and into the US and other fast-growing countries. Oil exporters account for much of the rest.
主题Macroeconomics ; Consumption and Investment ; International Economics ; International Factor Mobility ; International Finance
URLhttps://www.nber.org/papers/w15525
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/573201
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GB/T 7714
David Backus,Espen Henriksen,Frederic Lambert,et al. Current Account Fact and Fiction. 2009.
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