The Challenges of Narrowing the US Current-Account Deficit and Implications for Other Economies
This article uses the OECD’s interlink model to explore several possible channels through which a narrowing of the US current account deficit could occur. The shocks considered include dollar depreciation, fiscal consolidation, and an improvement in the non-price competitiveness of US producers. A key conclusion is that shocks would have to be very large in order to materially reduce the US external deficit, largely because of the offsetting impact of second-round effects. In addition...
Year of publication: |
2004
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Authors: | Brook, Anne-Marie ; Sédillot, Franck ; Ollivaud, Patrice |
Published in: |
OECD Economic Studies. - Organisation de Coopération et de Développement Économiques (OCDE), ISSN 1609-7491. - Vol. 2004.2004, 1, p. 157-186
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Publisher: |
Organisation de Coopération et de Développement Économiques (OCDE) |
Saved in:
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