Another Way of Testing the Current Account Approach: Evidence from United States and United Kingdom Data

2006 ◽  
Author(s):  
Emerson Fernandes Marçal ◽  
Wagner Oliveira Monteiro ◽  
Leonardo Cruz Basso
Keyword(s):  
United States ◽  
United Kingdom ◽  
Current Account ◽  
The Current Account

scholarly journals Implications of the U.S. Current Account Deficit

1989 ◽  
Vol 3 (4) ◽  
pp. 153-165 ◽  
Author(s):  
David H Howard
Keyword(s):  
United States ◽  
Current Account ◽  
Current Account Deficit ◽  
Analytical Framework ◽  
The United States ◽  
Balance Of Payments ◽  
The World ◽  
The U.S ◽  
The Current Account

In 1988, the United States recorded a deficit of about $135 billion on the current account of its balance of payments with the rest of the world. This paper presents an analytical framework for thinking about the current account deficit, explores causes of the current account deficit, and discusses the United States as a debtor nation and the issue of sustainability.

scholarly journals Global Imbalances: Globalization, Demography, and Sustainability

2008 ◽  
Vol 22 (3) ◽  
pp. 93-112 ◽  
Author(s):  
Richard N Cooper
Keyword(s):  
United States ◽  
Current Account ◽  
World Economy ◽  
Current Account Deficit ◽  
Trade Deficit ◽  
The United States ◽  
Dominant Feature ◽  
The World ◽  
The U.S ◽  
The Current Account

The current account deficit of the United States has been large in recent years, both in absolute size and relative to GDP. In 2006, it reached $811 billion, 6.1 percent of GDP. It has become a dominant feature of the world economy; if you sum up the current account deficits of all nations that are running deficits in the world economy, the U.S. deficit accounts for about 70 percent of the total. This paper looks beyond the national income accounting relationships to offer a more complex view of the U.S. imbalance. I argue that the generally rising U.S. trade deficit over the last 10–15 years is a natural outcome of two important forces in the world economy—globalization of financial markets and demographic change—and therefore that the U.S. current account deficit is likely to remain large for at least a decade. In a globalized market, the United States has a comparative advantage in producing marketable securities and in exchanging low-risk debt for higher-risk equity. It is not surprising that savers around the world want to put a growing portion of their savings into the U.S. economy. I argue that serious efforts to reduce the U.S. deficit, even collaborative efforts with other countries, may well precipitate a financial crisis and an economic downturn every bit as severe as the one that many fear could result from a disorderly market adjustment to the trade deficit.

The link between coronavirus, anxiety, and religious beliefs in the United States and United Kingdom

2020 ◽  
Author(s):  
Francesco Rigoli
Keyword(s):  
United States ◽  
United Kingdom ◽  
Religious Beliefs ◽  
Well Being ◽  
The United States ◽  
Christian Faith ◽  
Stressful Event ◽  
Cultural Implications ◽  
The Impact

Research has shown that stress impacts on people’s religious beliefs. However, several aspects of this effect remain poorly understood, for example regarding the role of prior religiosity and stress-induced anxiety. This paper explores these aspects in the context of the recent coronavirus emergency. The latter has impacted dramatically on many people’s well-being; hence it can be considered a highly stressful event. Through online questionnaires administered to UK and USA citizens professing either Christian faith or no religion, this paper examines the impact of the coronavirus crisis upon common people’s religious beliefs. We found that, following the coronavirus emergency, strong believers reported higher confidence in their religious beliefs while non-believers reported increased scepticism towards religion. Moreover, for strong believers, higher anxiety elicited by the coronavirus threat was associated with increased strengthening of religious beliefs. Conversely, for non-believers, higher anxiety elicited by the coronavirus thereat was associated with increased scepticism towards religious beliefs. These observations are consistent with the notion that stress-induced anxiety enhances support for the ideology already embraced before a stressful event occurs. This study sheds light on the psychological and cultural implications of the coronavirus crisis, which represents one of the most serious health emergencies in recent times.

Sign in / Sign up

Export Citation Format

Share Document