Are The Twin Deficits Really Related?
The emergence of record current-account and fiscal deficits in the United States during the 1980s draws increasing attention to what has become known as the "twin deficit" problem. Conventional wisdom is that a shift to larger government deficits entails a decline in government saving and results in larger trade deficits, Persistently large trade deficits are troublesome because they imply a transfer of wealth to foreigners and possibly a reduction in future generations' living standards. Copyright 1989 Western Economic Association International.
Volume (Year): 7 (1989)
Issue (Month): 4 (October)
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