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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"The Evolution of Fiscal Policy in Australia,"
Oxford Review of Economic Policy,
Oxford University Press, vol. 21(4), pages 618-635, Winter.
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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.
- Pierre-Olivier Gourinchas & Hélène Rey, 2005. "From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege," NBER Working Papers 11563, National Bureau of Economic Research, Inc.
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- Phil Garton, 2007. "Asymmetric investment returns and the sustainability of US external imbalances," Treasury Working Papers 2007-01, The Treasury, Australian Government, revised Feb 2007.
- William R. Cline, 2005. "United States as a Debtor Nation, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 3993, November. Full references (including those not matched with items on IDEAS)
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