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Monday, May 18, 2020 | History

3 edition of U.S. current account deficit and the global economy found in the catalog.

U.S. current account deficit and the global economy

Lawrence H. Summers

U.S. current account deficit and the global economy

by Lawrence H. Summers

  • 200 Want to read
  • 35 Currently reading

Published by Per Jacobsson Foundation in Washington, D.C .
Written in English

    Subjects:
  • Balance of payments -- United States,
  • International economic relations

  • Edition Notes

    Other titlesUnited States current account deficit and the global economy.
    StatementLawrence H. Summers.
    SeriesPer Jacobsson lecture -- 2004.
    ContributionsPer Jacobsson Foundation.
    The Physical Object
    Paginationv, 24 p. :
    Number of Pages24
    ID Numbers
    Open LibraryOL17624227M
    OCLC/WorldCa57480466

    Is the U.S. Current Account Deficit Sustainable? Summary America’s current account (CA) deficit (the trade deficit plus net income payments and net unilateral transfers) has been rising as a share of gross domestic product (GDP) since In the first half of , the Cited by: 3 Ben Bernanke, “The Global Saving Glut and the U.S. Current Account Deficit,” the Sandridge Lecture, Virginia Association of Economics, March 10, , available on the Federal Reserve Board of Governors website. For an analysis, see CRS Report RL, Is the U.S. Trade Deficit Caused by a Global Saving Glut?, by Marc stichtingdoel.com by:

    "Twin deficits" refers to the situation when an economy is running both a fiscal deficit and a current account deficit. Searches on the "U.S. trade deficit" reveal a similar pattern of newsworthiness qualitatively as for the current account, except that the frequency of mentions in the news rises significantly over the past year and a half. View Notes - Summers - The US Current Account Deficit from ECO IntEco at UFRGS. THE PER JACOBSSON LECTURE The U.S. Current Account Deficit and the Global Economy Lawrence H. Summers Sunday, October.

    Jun 20,  · The U.S. deficit in the broadest measure of trade rose to the highest level in a year during the first quarter. The Commerce Department says the deficit in the U.S. current account rose to $ Thank you very much for the opportunity to brief Commission members on the causes of the US current account deficit. I understand that this briefing is the first of several that will create the basis for a consensus document of findings and recommendations on issues related to the US external accounts.


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U.S. current account deficit and the global economy by Lawrence H. Summers Download PDF EPUB FB2

This paper presents the views of Lawrence H. Summers on the U.S. current account deficit and the global economy. Summers highlights that the U.S.

current account deficit is currently running well in excess of US$ billion at an annual rate, in the range of percent of GDP.

It represents more than 1 percent of global GDP and absorbs close to two-thirds of the cumulative current account. Get this from a library. The U.S. current account deficit and the global economy. [Lawrence H Summers; Per Jacobsson Foundation.]. Dec 21,  · Summary: This paper presents the views of Lawrence H.

Summers on the U.S. current account deficit and the global economy. Summers highlights that the U.S. current account deficit is currently running well in excess of US$ billion at an annual rate, in the range of percent of GDP.

The stichtingdoel.comt Account Deficit and the Global Economy LAWRENCE stichtingdoel.comS I am deeply honored by the invitation from the Per Jacobsson Foundation to. Panelists talked about how efforts to reduce the U.S. trade deficit could affect foreign partners and the global economy.

Although one of President Trump’s major campaign goals was decreasing. Investors and policymakers throughout the world were confronted with the risk of painful economic consequences arising from the large U.S. current account deficit. Inthe U.S. current account deficit was $ billion, equivalent to % of GDP.

The implications of the deficit were debated with intensity. Overview. The current account is an important indicator of an economy's health. It is defined as the sum of the balance of trade (goods and services exports minus imports), net income from abroad, and net current transfers.A positive current account balance indicates the nation is a net lender to the rest of the world, while a negative current account balance indicates that it is a net.

The U.S. current account deficit, driven by the United States' widening trade deficit, is the largest it has ever been, both as a share of the U.S. economy and in dollar terms. How much longer can the United States continue to spend more than it earns and support the resumption of global growth.

The. The largest component of a current account deficit is the trade deficit. That's when the country imports more goods and services than it exports.

The current U.S. trade deficit reveals that the United States imports a lot more than it exports. Many think that America is becoming less.

Rather, I believe that understanding the influence of global factors on the U.S. current account deficit is essential for understanding the effects of the deficit and for devising policies to address it.

Of course, as always, the views I express today are not necessarily shared by my colleagues at the Federal Reserve. Feb 17,  · From the start of the previous century until the early s, the US seldom recorded a deficit on its external current account (see chart).

The current account reflects an economy’s saving-investment balance. When saving exceeds investment, the result is a current-account surplus, and the economy becomes a lender to the rest of the world.

The U.S. Current Account Deficit and the Global Economy Lawrence H. Summers President, Harvard University October 3, Washington, D. I am deeply honored by the invitation from the Per Jacobsson Foundation to deliver this prestigious lecture and join the list of distinguished lecturers who have been part of this series.

Apr 29,  · Recorded in OctoberLawrence H. Summers discusses the economic future of the U.S. in the global world. Interestingly, this same monstrous economy also holds the title for the largest current account deficit.

The U.S. current account deficit is funded from net capital inflows from abroad and has continued to grow throughout the last two decades (Holman, ).

The U.S. current account deficit, the U.S. economy or, more likely, global investors will decide that U.S. assets account for a big enough share of their portfolios and so will stop acquiring more of them.

At that point, asset prices, including interest rates and the exchange. Apr 04,  · The U.S. trade deficit dropped sharply in February compared with the previous month, data released Tuesday showed, as a stronger global economy helped stoke.

The U.S. government at all levels ran a % GDP deficit in To summarize, in the U.S. inthere was a private sector surplus of % GDP due to household savings exceeding business investment. There was also a current account deficit of % GDP, meaning the.

Years in which the U.S. current account deficit — which largely consists of the trade deficit — is rising show stronger growth than years in which the current account deficit is shrinking.

Let's first look at those years where the current account deficit shrank, which — according to conventional wisdom — should be a good thing. Lawrence H. Summers discusses the economic future of the US in the global world.

Changes in Global Saving Rates. During the financial crisis, external imbalances around the world began adjusting, and global imbalances started declining. The U.S., for instance, reduced its current account deficit by consuming less and saving more, whereas China.

America’s current account (CA) deficit (the trade deficit plus net income payments and net unilateral transfers) rose as a share of gross domestic product (GDP) from to a record high of % of GDP in Init fell to % of GDP, and is projected to continue to fall in The CA deficit is financed by foreign capital inflows.The U.S.

current account deficit narrowed by $ billion, or percent, to $ billion in the third quarter ofaccording to statistics from the U.S. Bureau of Economic Analysis. The revised second quarter deficit was $ billion.The U.S.

current account is essentially the difference between national savings (public and private) and domestic investment. The U.S. economy has run a current account deficit for decades.