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March 18, 2014

Development
RTR314GN Balancing Security and Accountability

Emerging Voices features contributions from scholars and practitioners highlighting new research, thinking, and approaches to development challenges. This article is from Nema Milaninia, a legal offi…

November 20, 2017

China
China, Credit, and the Current Account China, Credit, and the Current Account

Arguing China’s credit growth is too high in effect is arguing that the post-crisis fall in China’s external surplus isn’t sustainable.

April 4, 2017

Monetary Policy
China's Confusing Trade and Current Account Numbers China's Confusing Trade and Current Account Numbers

Has China's current account surplus disappeared? Should I declare victory and go home? I always have thought a fast-growing, high investment emerging economy should run a current account deficit, …

March 9, 2005

Current account adjustment

A couple of quick thoughts on the Federal Reserve Board’s recent paper on current account adjustment.There are two broad paradigms or models for current account adjustment. One might be called the e…

September 14, 2004

United States
The US current account

Q2 current and capital account data came out today. At 166 billion, the Q2 current account deficit was $10 billion or so more than expected. Since the goods and service trade deficit for q2 was alre…

March 14, 2007

United States
The q4 current account deficit

Count me among those who were surprised by the size of the fall in the q4 current account deficit.  I was expecting a fall, but not as big a fall as the BEA reported this morning.The q4 deficit came …

October 21, 2005

United States
Current account deficits do matter

At least according to Tim Geithner, President of the Federal Reserve Bank of New York:It matters because of the size of the U.S. imbalance. Our current account deficit is now running at a rate of abo…

December 6, 2017

United States
Tax Reform and the Trade Balance Tax Reform and the Trade Balance

Warning: long, wonky, and not for the fainthearted. I try to assess how the international reforms will impact where firms book profits and thus the measured trade and income balance, not just the …

March 27, 2008

United States
2007_current_account_1.jpg The 2007 US current account data

The US recently released its current account data for the fourth quarter. Among other things, the data showed another $150b in official inflows in q4, bring the total for 2007 up to around $400b. In …

September 14, 2007

United States
official_flows_1_q2_07 The q2 US current account data

The q2 US current account data poses two puzzles. The first is the sharp drop off in official inflows in q2.   They fell from $150b in q1 to $70b in q2.   That fall was, incidentally, offset – mechan…