The U.S. Current Account Deficit and the Expected Share of World Output
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We investigate the possibility that the large current account deficits of the U.S. are the outcome of optimizing behavior. We develop a simple long-run world equilibrium model in which the current account is determined by the expected discounted present value of its future share of world GDP
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美国国家经济研究局创建时间：
2006-01-01
