No. 122 - The adjustment of the US current account imbalance: the role of international policy coordination

Temi di discussione (Working papers)
by Giorgio Gomel, Grazia Marchese and Juan Carlos Martinez Oliva
Vai alla versione italiana Site Search

The United States ran a small current account surplus on average in the 1970s as well as in the two preceding decades. The rapid deterioration in the external balance since 1982 to a massive deficit is thus an unprecedented event in post-war history. Even when normalized for output growth (in nominal terms), the current account appears to have worsened very significantly, well outside previous experience.

Full text

  1. 31 July 1989
    No. 122 - The adjustment of the US current account imbalance: the role of international policy coordination
    PDF 2 MB