| Document Type
|
:
|
BL
|
| Record Number
|
:
|
950429
|
| Doc. No
|
:
|
b704799
|
| Main Entry
|
:
|
Cline, William R.
|
| Title & Author
|
:
|
The United States as a debtor nation /\ William R. Cline.
|
| Publication Statement
|
:
|
Washington, DC :: Institute for International Economics :: Center for Global Development,, 2005.
|
| Page. NO
|
:
|
1 online resource (xix, 304 pages) :: illustrations
|
| ISBN
|
:
|
0881323993
|
|
|
:
|
: 088132468X
|
|
|
:
|
: 1281061018
|
|
|
:
|
: 1435609158
|
|
|
:
|
: 6611061010
|
|
|
:
|
: 9780881323993
|
|
|
:
|
: 9780881324686
|
|
|
:
|
: 9781281061010
|
|
|
:
|
: 9781435609150
|
|
|
:
|
: 9786611061012
|
| Bibliographies/Indexes
|
:
|
Includes bibliographical references (pages 283-290) and index.
|
| Contents
|
:
|
1. The international debt cycle and the United States as an external debtor -- The debt cycle -- Measuring the net international investment position -- The debt cycle in practice -- The global balance sheet discrepancy -- Debt cycle status and growth performance -- Appendix 1A. Estimating the net international investment position -- 2. Valuation effects, asymmetric returns, and economic net foreign assets -- US valuation effects -- US asymmetric capital returns -- Capital services and economic versus accounting net foreign assets -- Alternative measures : cash flow versus debt burden -- 3. Projecting the US current account deficit and net foreign assets -- A simple projection model -- Calibration and data -- Identifying the exchange rate lag -- Backcast performance -- Baseline projections -- Comparison with other projections -- Adjustment scenarios -- Impact parameters -- 4. US fiscal imbalance and the external deficit -- Understanding the linkages -- The decline in personal saving -- Fiscal outlook for 2005-10 -- Long-term fiscal problem -- General equilibrium framework -- Toward fiscal and external adjustment -- Appendix 4A. A simple general equilibrium model relating the trade and fiscal balances -- 5. Sustainability of the US current account deficit and the risk of crisis -- US share in global portfolios -- Debt ratios and critical thresholds -- Hard landing, long-term burden, and protectionist pressures -- The evolving crisis debate -- Appendix 5A. Key features of leading recent analyses -- 6. Impact of the US external imbalance on the rest of the world -- Impact on global demand -- Impact on interest rates -- Emerging-market capital supply and current account performance -- Developing-country reserves : burden or bonanza? -- East Asian exchange rate rigidity -- Achieving global adjustment -- Appendix 6A. Optimal exchange rate realignment -- Appendix 6B. Recent alternative profiles proposed for global adjustment -- 7. Principal findings and policy implications -- The international debt cycle -- Valuation effects, asymmetric returns, and economic net foreign assets -- Forecasting the US current account deficit and net foreign assets -- The role of fiscal adjustment -- Sustainability and risks of the current account deficit -- Global impact of US external imbalance -- Policy implication.
|
| Abstract
|
:
|
The United States has once again entered into a period of large external imbalances. This study examines whether the large and growing current account deficit is a problem, and if so, how problem can be solved.
|
| Subject
|
:
|
Balance of trade-- United States.
|
| Subject
|
:
|
Debts, External-- United States.
|
| Subject
|
:
|
Investments, American.
|
| Subject
|
:
|
Balance commerciale-- États-Unis.
|
| Subject
|
:
|
Dettes extérieures-- États-Unis.
|
| Subject
|
:
|
Investissements américains.
|
| Subject
|
:
|
Balance of trade.
|
| Subject
|
:
|
BUSINESS ECONOMICS-- Public Finance.
|
| Subject
|
:
|
Commercial policy.
|
| Subject
|
:
|
Debt Management
|
| Subject
|
:
|
Debts, External.
|
| Subject
|
:
|
Handelsbilanz
|
| Subject
|
:
|
Investments, American.
|
| Subject
|
:
|
Buitenlandse schulden.
|
| Subject
|
:
|
Handelsbalans.
|
| Subject
|
:
|
Internationale leningen.
|
| Subject
|
:
|
United States, Commercial policy.
|
| Subject
|
:
|
États-Unis, Politique commerciale.
|
| Subject
|
:
|
United States.
|
| Subject
|
:
|
USA.
|
| Dewey Classification
|
:
|
336.3/4/0973
|
| LC Classification
|
:
|
HJ8119.C55 2005eb
|
| NLM classification
|
:
|
83.44bcl
|
| Added Entry
|
:
|
Center for Global Development.
|
|
|
:
|
Institute for International Economics (U.S.)
|