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US Current Account Deficit

Essential Reading from the Institute

Working Paper 13-2: The Elephant Hiding in the Room: Currency Intervention and Trade Imbalances [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
March 2013

Policy Brief 12-25: Currency Manipulation, the US Economy, and the Global Economic Order [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
and Joseph E. Gagnon, Peterson Institute for International Economics
December 2012

Speech: The United States in the World Economy
by C. Fred Bergsten, Peterson Institute for International Economics
Speech delivered at the Chautauqua Lecture Series, "The US Economy: Beyond a Quick Fix"
August 12, 2011

Working Paper 11-1: Current Account Imbalances Coming Back [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
January 2011

Peterson Perspective: The Renminbi and the US Current Account Deficit [pdf]
by William R. Cline, Peterson Institute for International Economics
William R. Cline discusses his findings that show how an appreciated Chinese currency would, over two years, lower China's current account surplus.
September 16, 2010

Article: The Dollar and the Deficits: How Washington Can Prevent the Next Crisis
by C. Fred Bergsten, Peterson Institute for International Economics
Article in Foreign Affairs, Volume 88 No. 6, November/December 2009
November 2009

Book: The Long-Term International Economic Position of the United States
Special Report No. 20
edited by C. Fred Bergsten
April 2009

Policy Brief 10-20: Renminbi Undervaluation, China’s Surplus, and the US Trade Deficit [pdf]
by William R. Cline, Peterson Institute for International Economics
August 2010

Op-ed: America Cannot Resolve Global Imbalances on Its Own
by C. Fred Bergsten, Peterson Institute for International Economics
and Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
August 19, 2009

Peterson Perspective: A Return to Global Imbalances? [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
C. Fred Bergsten says that a weaker euro and an undervalued Chinese renminbi threaten to magnify the US current account deficit and undercut the G-20's pledge not to revive global imbalances.
June 15, 2010

Op-ed: New Imbalances Will Threaten Global Recovery
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
June 10, 2010

Congressional Testimony: Currency Misalignments and the US Economy
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Subcommittees on Trade, Ways and Means Committee; Commerce, Trade and Consumer Protection, Energy, and Commerce Committee; and Domestic and International Monetary Policy, Trade and Technology, Financial Services Committee of the House of Representatives
May 9, 2007

Policy Brief 07-4: Global Imbalances: Time for Action [pdf]
March 2007

Congressional Testimony: The Current Account Deficit and the US Economy
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Budget Committee of the United States Senate
February 1, 2007

Congressional Testimony: Why Deficits Matter: The International Dimension
by C. Fred Bergsten, Peterson Institute for International Economics
and Edwin M. Truman, Peterson Institute for International Economics
Testimony before the Budget Committee of the House of Representatives
January 23, 2007

Book: Is the U.S. Trade Deficit Sustainable?
by Catherine L. Mann
September 1999

Book: The United States as a Debtor Nation
by William R. Cline
September 2005

Policy Brief 06-9: Can America Still Compete or Does It Need a New Trade Paradigm? [pdf]
by Martin Neil Baily, Peterson Institute for International Economics
and Robert Z. Lawrence, Peterson Institute for International Economics
December 2006

Policy Brief 05-4: The Case for a New Plaza Agreement [pdf]
by William R. Cline, Peterson Institute for International Economics
December 2005

Working Paper 05-6: Postponing Global Adjustment: An Analysis of the Pending Adjustment of Global Imbalances [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
July 2005

Working Paper 05-11: The US Trade Deficit: A Disaggregated Perspective [pdf]
by Catherine L. Mann, Peterson Institute for International Economics
and Katharina Plück, Peterson Institute for International Economics
September 2005

Article: Managing Exchange Rates: Achievement of Global Re-balancing or Evidence of Global Co-dependency [pdf]
by Catherine L. Mann, Peterson Institute for International Economics
Article in Business Economics
July 2004

Article: Breaking Up Is Hard To Do: Global Co-dependency, Collective Action, and the Challenges of Global Adjustment [pdf]
by Catherine L. Mann, Peterson Institute for International Economics
Article published in the CESifo Forum
January 2005

Op-ed: When the Dollar Bill Comes Due
by Catherine L. Mann, Peterson Institute for International Economics
and Katharina Plück, Peterson Institute for International Economics
Op-ed
April 27, 2005

Book: The United States and the World Economy: Foreign Economic Policy for the Next Decade
by C. Fred Bergsten and the Institute for International Economics
January 2005

Book: Dollar Adjustment: How Far? Against What?
edited by C. Fred Bergsten and John Williamson
November 2004