International Finance Discussion Papers: The U.S. Current Account Deficit and the Expected Share of World Output by Charles Engel, John H. Rogers

International Finance Discussion Papers: The U.S. Current Account Deficit and the Expected Share of World Output

Charles Engel, John H. Rogers

54 pages • missing pub info (editions)

nonfiction politics
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We investigate the possibility that the large current account deficits of the U.S. are the outcome of optimizing behavior. We develop a simple long-run world equilibrium model in which the current account is determined by the expected discounted p...

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