The U.S. International Investment Position
The U.S. current account deficit has increased thirteen-fold since 1982, reaching $148 billion in 1996 and nearly $164 billion (annual rate) in 1997:IQ. Our nation has financed the surfeit imports by selling assets and issuing debt instruments to foreigners. This generates an inflow of foreign capital, but it also gives the rest of the world a claim to our future output.
Suggested citation: “The U.S. International Investment Position,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-08, pp. 19, 08.01.1997.