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On the EU-US Current Account

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  • Gabriel Felbermayr
  • Martin Braml

Abstract

The first part of this short report uses the newest available data from the Bureau of Economic Analysis (BEA), an agency of the US Department of Commerce, to analyse economic relations between the US and the EU. The data is used to decompose the components of the US current account balance, and to analyse the bilateral balance of payments with the European Union, the Euro Zone and Germany. In the second part, we use data provided by Eurostat to mirror US figures. We find enormous discrepancies between what the EU and the US report, particularly with respect to primary income.

Suggested Citation

  • Gabriel Felbermayr & Martin Braml, 2018. "On the EU-US Current Account," EconPol Policy Reports 7, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    • Handle: RePEc:ces:econpr:_7
    as

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    File URL: https://www.ifo.de/DocDL/EconPol_Policy_Report_07_2018.pdf
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    References listed on IDEAS

    as
    1. Pierre-Olivier Gourinchas & Hélène Rey, 2007. "From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege," NBER Chapters, in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 11-66, National Bureau of Economic Research, Inc.
    2. Shaghil Ahmed & Carol C. Bertaut & Jessica Liu & Robert J. Vigfusson, 2018. "Should We Be Concerned Again About U.S. Current Account Sustainability?," IFDP Notes 2018-03-09, Board of Governors of the Federal Reserve System (U.S.).
    3. Eichengreen, Barry, 2006. "Global imbalances: The new economy, the dark matter, the savvy investor, and the standard analysis," Journal of Policy Modeling, Elsevier, vol. 28(6), pages 645-652, September.
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    Cited by:

    1. Martin Braml & Gabriel Felbermayr & Wolfgang Weiß & Fritz Breuss & Christoph Scherrer & Christoph Herrmann & Caroline Glöckle & Benjamin Jung & Tim Krieger & Laura Renner & Bernd Lange, 2018. "Trade War and Its Implications: the Beginning of the End for WTO?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(11), pages 03-29, June.
    2. Felbermayr Gabriel J., 2018. "Zur Rückkehr der Machtpolitik in Handelsfragen: Theoretische Überlegungen und politische Empfehlungen," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 19(3), pages 232-244, September.
    3. Martin Braml & Gabriel Felbermayr & Lucia Wilbert, 2018. "Do Countries with Current Account Surpluses Export Unemployment?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(16), pages 20-25, August.

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