Nia berkeley and a research associate of the national bureau of economic research ken neth rogo ff is the thomas d cabot professor of public policy at harvard university and a research associate of the national bureau of economic research this chapter is a revised version of national bureau of economic research working paper. Search fellow of the national bureau of economic research we thank rich clarida barry eichengreen richard portes cedric tille participants at the nber conference on g7 current account imbalances and especially our discussant jose de gregorio for their comments 1 these phenomena have been documented in particular in lane and milesi . Third while the focus of the conference was on current account imbalances in the g7 countries it was recognized that the aggregate excess of saving over investment that existed among the . The current account deficit of the united states is more than six percent of its gross domestic product an all time high and the rest of the world including other g7 countries such as japan and germany must collectively run current account surpluses to finance this deficit. G7 current account imbalances sustainability and adjustment richard h clarida national bureau of economic research comment assaf razin are there thresholds of current account adjustment in the g7 richard h clarida manuela goretti and mark p taylor a national bureau of economic research conference report schema
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