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Imbalances Looking for a Policy

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  • Wynne Godley

Abstract

The latest batch of numbers from the United States makes for a disturbing read. The growth rate of GDP has been adequate, but the current account deficit was 6.3 percent of GDP in the fourth quarter of 2004, and the terrible trade figures for January and February promise an even bigger deficit in the first quarter of 2005 (BEA 2005). Let no one suppose that this deterioration is a temporary effect that will automatically turn around soon.

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  • Wynne Godley, 2005. "Imbalances Looking for a Policy," Economics Policy Note Archive 05-4, Levy Economics Institute.
    • Handle: RePEc:lev:levypn:05-4
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    File URL: http://www.levyinstitute.org/pubs/pn_4_05.pdf
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    Cited by:

    1. Piffaretti, Nadia F., 2009. "Reshaping the international monetary architecture : lessons from Keynes'plan," Policy Research Working Paper Series 5034, The World Bank.

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