An explanation of the current account balance in the United States and the effect of changing interest rates on savings.
Written in 2002; 3,968 words; 7 sources; MLA; $ 107.95
Paper Summary:
This paper provides an analysis of the current state of the American economy, focusing on the trade deficit and current account balance. The paper includes a basic definition of the terms and then relates them to the state of the U.S. economy. The paper then looks at the theory of interest and explains that despite the government interfering in interest rates, there has been little bearing on saving and investment in the domestic economy. The paper looks at the propensity to save and how this in turn affects the interest rates.
From the Paper:
"The United States, specially, ran an increasing current account deficit of almost $1 trillion, as well as in less than ten years went from the world's major creditor to its utmost debtor. The materialization of this shortfall, coordinated by uniformly large excesses in Japan and Germany, stood for a fundamentally unforeseen growth in the global economy, which a number of economists forecasted would spark a global crisis started by a fall down of the dollar."
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