Hard to Explain Current U.S. Account Gap - Fed Study

Published on:
 12 September 2006 at 10:20 a.m. ET

Sept. 12, 2006, 10:20 a.m. insideARM.com The iA Institute
Written by: Unknown Author –

http://www.insidearm.com/news/00001234-hard-to-explain-current-us-account-gap-fe/

The Asian financial crisis of the late 1990s can explain the emergence of large current account surpluses in the region, but fails to explain why the United States faces a deficit, a Federal Reserve study found.


Joseph Gruber and Steven Kamin, two researchers at the Fed’s Washington-based board, said that while conventional economic models do not explain the burgeoning Asian surpluses, a model altered to account for financial crises did.


For this complete story, please visit Hard to Explain Current U.S. Account Gap – Fed Study.


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