Haan, Leo de; Schokker, Hubert; Tcherneva, Anastassia - In: The World Economy 31 (2008) 2, pp. 286-311
This study examines macroeconomic developments around reversals in current account deficits in 29 OECD countries over four decades and draws some inferences for the present US deficit. Estimates of a probit model indicate that the deepness of the deficit itself, absence of spare production...