The United States as a debtor nation /
The United States has once again entered into a period of large external imbalances. This study examines whether the large and growing current account deficit is a problem, and if so, how problem can be solved.
| Основен автор: | Cline, William R. |
|---|---|
| Автор-организация: | Center for Global Development., Institute for International Economics (U.S.) |
| Формат: | Електронна книга |
| Език: | English |
| Публикувано: |
Washington, DC :
Institute for International Economics : Center for Global Development,
2005.
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| Предмети: | |
| Онлайн достъп: |
http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=211108 |
| Подобни документи: |
Print version::
United States as a debtor nation. |
Съдържание:
- 1. The international debt cycle and the United States as an external debtor
- The debt cycle
- Measuring the net international investment position
- The debt cycle in practice
- The global balance sheet discrepancy
- Debt cycle status and growth performance
- Appendix 1A. Estimating the net international investment position
- 2. Valuation effects, asymmetric returns, and economic net foreign assets
- US valuation effects
- US asymmetric capital returns
- Capital services and economic versus accounting net foreign assets
- Alternative measures : cash flow versus debt burden
- 3. Projecting the US current account deficit and net foreign assets
- A simple projection model
- Calibration and data
- Identifying the exchange rate lag
- Backcast performance
- Baseline projections
- Comparison with other projections
- Adjustment scenarios
- Impact parameters
- 4. US fiscal imbalance and the external deficit
- Understanding the linkages
- The decline in personal saving
- Fiscal outlook for 2005-10
- Long-term fiscal problem
- General equilibrium framework
- Toward fiscal and external adjustment
- Appendix 4A. A simple general equilibrium model relating the trade and fiscal balances
- 5. Sustainability of the US current account deficit and the risk of crisis
- US share in global portfolios
- Debt ratios and critical thresholds
- Hard landing, long-term burden, and protectionist pressures
- The evolving crisis debate
- Appendix 5A. Key features of leading recent analyses
- 6. Impact of the US external imbalance on the rest of the world
- Impact on global demand
- Impact on interest rates
- Emerging-market capital supply and current account performance
- Developing-country reserves : burden or bonanza?
- East Asian exchange rate rigidity
- Achieving global adjustment
- Appendix 6A. Optimal exchange rate realignment
- Appendix 6B. Recent alternative profiles proposed for global adjustment
- 7. Principal findings and policy implications
- The international debt cycle
- Valuation effects, asymmetric returns, and economic net foreign assets
- Forecasting the US current account deficit and net foreign assets
- The role of fiscal adjustment
- Sustainability and risks of the current account deficit
- Global impact of US external imbalance
- Policy implication.