Implications for future U.S. net investment payments of growing U.S. net international indebtedness
In the 1980s, the United States developed a large and persistent current account deficit, financed by borrowing from abroad. The purpose of this paper is to explore the sustainability of these large deficits from one of several possible perspectives. Simulations of a model of the U.S. current account are used to examine the future servicing burden implied by the accumulating U.S. indebtedness to foreigners (or more precisely by the negative net international investment position).
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- Eisner, Robert & Pieper, Paul J., 1990. "The world's greatest debtor nation?," North American Review of Economics and Finance, Elsevier, vol. 1(1), pages 9-32.
- William Helkie & Lois Stekler, 1987. "Modeling investment income and other services in the U.S. international transactions accounts," International Finance Discussion Papers 319, Board of Governors of the Federal Reserve System (U.S.).
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