Endogenous Discounting, the World Saving Glut and the U.S. Current Account
收藏NBER2007-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w13571
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We study the evolution of the U.S. current account in a two-country dynamic stochastic endowment model in which a single non-state contingent bond is the only internationally traded asset. The paper focuses on the world `saving glut' as the primary cause of continual deterioration in the current
本文基于两国动态随机禀赋模型（two-country dynamic stochastic endowment model）展开研究，该模型仅以单一非状态依存债券（non-state contingent bond）作为唯一可跨境交易的资产，用以分析美国经常账户的动态演化路径。本文将全球储蓄过剩（world saving glut）视为美国经常账户持续恶化的核心成因
提供机构：
美国国家经济研究局
创建时间：
2007-11-01
