Where Did All the Borrowing Go? : A Forensic Analysis of the U.S. External Position /

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 liabilities f...

पूर्ण विवरण

ग्रंथसूची विवरण
मुख्य लेखक: Milesi-Ferretti, Gian
अन्य लेखक: Lane, Philip
स्वरूप: पत्रिका
भाषा:English
प्रकाशित: Washington, D.C. : International Monetary Fund, 2008.
श्रृंखला:IMF Working Papers; Working Paper ; No. 2008/028
ऑनलाइन पहुंच:Full text available on IMF
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245 1 0 |a Where Did All the Borrowing Go? :   |b A Forensic Analysis of the U.S. External Position /  |c Gian Milesi-Ferretti, Philip Lane. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a 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 liabilities for the U.S. economy over the past 25 years. In particular, it highlights and quantifies the role played by net capital gains on the U.S. external portfolio and 'residual adjustments' in explaining this discrepancy. It discusses whether these 'residual adjustments' are likely to be originating from measurement errors in external assets and liabilities, financial flows, or capital gains, and explores the implications of these conjectures for the U.S. financial account and external position. 
538 |a Mode of access: Internet 
700 1 |a Lane, Philip. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2008/028 
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