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March 26, 2014

Diplomacy and International Institutions
Hello (Ciao), Matteo Renzi: Prime Minister of Italy

When President Barack Obama stops in Rome tomorrow he will be meeting with a politician who can match his own meteoric rise to power: Italian prime minister Matteo Renzi. Last month the thirty-nine-y…

Italian prime minister Matteo Renzi arrives to lead a news conference at Chigi palace in Rome. (Remo Casilli/Courtesy Reuters)

April 4, 2007

United States
The income balance — the new driver of the US current accout deficit?

Many analysts believe – extrapolating from the q4 data and the stabilization of the non-oil trade deficit – that the US current account deficit has peaked.  Stephen Jen is the most prominent example,…

niip_06

June 26, 2009

United States
The 2008 US net international investment position: Without valuation gains, ongoing borrowing pushes the US deeper into the red

For a long time, large US trade and current account deficits didn’t push up the total amount the United States owed to the world, at least not if the market value of US investment abroad was netted a…

niip-08-1

March 27, 2008

United States
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 …

2007_current_account_1.jpg

April 17, 2006

Monetary Policy
Treading water (the February TIC data and ongoing central bank financing of the US)

The world bought $87b more of US long-term debt and equity than the US bought of foreign debt and equity.    The net inflow exceeded expectations - there were some concerns that TIC inflow wouldn't b…