The impact of exchange rate movements on U.S. foreign debt
AbstractIn 2001, the United States' net debt to the rest of the world jumped to $2.3 trillion, a level double that recorded in 1999. Much of the increase reflects the new borrowing undertaken by the country to finance its mounting current account deficit. A third of the change, however, can be traced to a simple accounting effect--the impact of a rising dollar on the value of U.S. assets held abroad.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.
Volume (Year): 9 (2003)
Issue (Month): Jan ()
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