EconWatch.com > FRBSF: The U.S. Productivity Acceleration and the Current Account Deficit

[Economist's View] According to this Economic Letter, explanations of changes in the current account have generally omitted changes in productivity as a potential explanatory factor. However, this is "another factor to consider, which so far has received relatively little attention in the press and in policy circles." The paper argues the the doubling of productivity since 1996 "can potentially account for a large fraction of the current account increase through its impact on saving and investment": The U.S. Productivity Acceleration and the Current Account Deficit, by Diego Valderrama, FRBSF Economic Letter: On March 14, the Bureau of Economic Analysis reported that the U.S. current account deficit for 2006 increased from the previous year to over 6% of GDP.

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Econ.ucdavis.eduhttp://www.econ.ucdavis.edu [Econ.ucdavis.edu] Paul R. Bergin: IMF Staff Papers. International Economic Review. International Finance ... Is the U.S. Current Account Deficit a Problem? FRBSF Economic Letter, Number ...

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[Ssc.wisc.edu] PA 854 (Spring 2007) Macroeconomic Policy and International ...: The textbook is Caves, Frankel and Jones, World Trade and Payments 10th Edition, available at the University Bookstore (note: The edition I've ordered incorporates a free subscription to the Financial Times). Additional assigned readings will be available on the Web (via links on this website).

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