A current account deficit is sustainable when its underlying drivers support a smooth correction in the future. It is unsustainable when symptomatic of macroeconomic imbalances that would eventually trigger disruptive adjustments. Although a current account deficit in itself is neither good nor bad, it is likely to be unsustainable and lead to harmful consequences when it is persistently large, fuels consumption rather than investment, occurs alongside...
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INFORMATION
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2018/10/01
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Fiche
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130415
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1
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2018/10/02
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Disclosed
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When is a Current Account Deficit Bad?
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board of governors of the federal reserve system
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