Comparing the net foreign liability dynamics of Australia and the United States
This article examines the evolution of net foreign liabilities as a share of GDP in Australia and the United States. The two countries have been running similarly large current account deficits in recent years. But while net foreign liabilities have been growing steadily as a share of GDP in Australia they have, remarkably, been falling in the US.
Volume (Year): (2007)
Issue (Month): 4 (December)
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- Pierre-Olivier Gourinchas & Hélène Rey, 2007.
"From World Banker to World Venture Capitalist: U.S. External Adjustment and the Exorbitant Privilege,"
in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 11-66
National Bureau of Economic Research, Inc.
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- Gourinchas, Pierre-Olivier & Rey, Hélène, 2005. "From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege," CEPREMAP Working Papers (Docweb) 0606, CEPREMAP.
- David Gruen & Amanda Sayegh, 2005.
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Oxford University Press, vol. 21(4), pages 618-635, Winter.
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- William R. Cline, 2005. "United States as a Debtor Nation, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 3993, January.
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