Lane, Philip R.; Milesi-Ferretti, Gian Maria - In: Journal of the Japanese and International Economies 23 (2009) 2, pp. 177-199
The deterioration in the U.S. net external position in recent years has been much smaller than the extensive net borrowing associated with large current account deficits would have suggested. This paper examines the sources of discrepancies between net borrowing and accumulation of net...
