Channels for Narrowing the US Current Account Deficit and Implications for Other Economies:
In this paper the OECD's interlink model is used to explore several possible channels through which a narrowing of the US current account deficit could occur. The shocks considered include dollar depreciation, fiscal consolidation, and an improvement in the non-price competitiveness of US produ...
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| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Paris
OECD Publishing
2004
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagwörter: | |
| Links: | https://doi.org/10.1787/263550547141 |
| Zusammenfassung: | In this paper the OECD's interlink model is used to explore several possible channels through which a narrowing of the US current account deficit could occur. The shocks considered include dollar depreciation, fiscal consolidation, and an improvement in the non-price competitiveness of US producers. A key conclusion is that shocks would have to be very large in order to materially reduce the US external deficit. In part, this is because second-round effects, including domestic policy responses, tend to offset the shocks' initial impact. In addition, it is clear that each of the channels for narrowing the deficit involves risks to growth in the rest of the world, particularly in Japan where the authorities have limited room to use monetary or fiscal policy to offset any contractionary pressures. The exchange rate simulations highlight the fact that more exchange rate flexibility in Asia would spread the burden of adjustment more evenly across US trading partners. Attention is also ... |
| Umfang: | 1 Online-Ressource (29 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/263550547141 |
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| 245 | 1 | 0 | |a Channels for Narrowing the US Current Account Deficit and Implications for Other Economies |c Anne-Marie Brook, Franck Sédillot and Patrice Ollivaud = Des canaux permettant de réduire le déficit de la balance courante américaine et leurs implications pour les autres économies / Anne-Marie Brook, Franck Sédillot et Patrice Ollivaud |
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| spellingShingle | Brook, Anne-Marie Channels for Narrowing the US Current Account Deficit and Implications for Other Economies Economics United States |
| title | Channels for Narrowing the US Current Account Deficit and Implications for Other Economies |
| title_alt | Des canaux permettant de réduire le déficit de la balance courante américaine et leurs implications pour les autres économies |
| title_auth | Channels for Narrowing the US Current Account Deficit and Implications for Other Economies |
| title_exact_search | Channels for Narrowing the US Current Account Deficit and Implications for Other Economies |
| title_full | Channels for Narrowing the US Current Account Deficit and Implications for Other Economies Anne-Marie Brook, Franck Sédillot and Patrice Ollivaud = Des canaux permettant de réduire le déficit de la balance courante américaine et leurs implications pour les autres économies / Anne-Marie Brook, Franck Sédillot et Patrice Ollivaud |
| title_fullStr | Channels for Narrowing the US Current Account Deficit and Implications for Other Economies Anne-Marie Brook, Franck Sédillot and Patrice Ollivaud = Des canaux permettant de réduire le déficit de la balance courante américaine et leurs implications pour les autres économies / Anne-Marie Brook, Franck Sédillot et Patrice Ollivaud |
| title_full_unstemmed | Channels for Narrowing the US Current Account Deficit and Implications for Other Economies Anne-Marie Brook, Franck Sédillot and Patrice Ollivaud = Des canaux permettant de réduire le déficit de la balance courante américaine et leurs implications pour les autres économies / Anne-Marie Brook, Franck Sédillot et Patrice Ollivaud |
| title_short | Channels for Narrowing the US Current Account Deficit and Implications for Other Economies |
| title_sort | channels for narrowing the us current account deficit and implications for other economies |
| topic | Economics United States |
| topic_facet | Economics United States |
| url | https://doi.org/10.1787/263550547141 |
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