2004 Net portfolio equity outflow: $63 billion (TIC data); $37 billion (BEA) data. The difference seems to stem from different treatment of equity purchases related to mergers and acquisitions. Is the ...
Budgets, taxes, and debt are the fundamental cycle of government finance. Expenditures are financed through taxes or debt. When spending exceeds tax revenue, the budget deficit must be bridged by ...
Back in the summer of 2004, Nouriel Roubini and I published a paper arguing that large trade deficits implied a deteriorating US net international investment position and a deteriorating “income” ...
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