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U.S. international transactions in 1999

Author

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  • Francis E. Warnock

Abstract

The U.S. current account deficit increased substantially in 1999 as the balances on goods and services, investment income, and unilateral transfers all became more negative. The remarkable strength of the U.S. economy contributed significantly to a marked decrease in the balance on goods and services; to a lesser extent, previous declines in U.S. price competitiveness also played a role. The balance on investment income decreased because of the additional net income payments on the growing U.S. external indebtedness. In 2000, domestic spending may well continue to outstrip domestic production and increase the current account deficit. But adjustments that should slow the process are also at work.

Suggested Citation

  • Francis E. Warnock, 2000. "U.S. international transactions in 1999," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 86(May), pages 301-314, May.
    • Handle: RePEc:fip:fedgrb:y:2000:i:may:p:301-314:n:v.86no.5
    DOI: 10.17016/bulletin.2000.86-5
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    File URL: http://www.federalreserve.gov/pubs/bulletin/2000/0500lead.pdf
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    More about this item

    Keywords

    Exports; Imports; International trade;
    All these keywords.

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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