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The impact of exchange rate movements on U.S. foreign debt

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  • Cedric Tille

Abstract

In 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 Info

Article provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.

Volume (Year): 9 (2003)
Issue (Month): Jan ()
Pages:

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Handle: RePEc:fip:fednci:y:2003:i:jan:n:v.9no.1

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Keywords: Debts; External ; Foreign exchange ; Capital movements ; Deficit financing;

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