FISCAL, FOREIGN, AND PRIVATE NET BORROWING: WIDELY ACCEPTED THEORIES DON’T CLOSELY FIT THE FACTS

Cycles and trends in U.S. net borrowing flows

Barbosa-Filho, Nelson, (2008)

Cycles and trends in US net borrowing flows : pro-cyclical household net borrowing, counter-cyclical government, consumption and the current account, and elusive twin deficits

Barbosa Filho, Nelson Henrique, (2007)

Inflation? It’s Import Prices and the Labor Share!

Taylor, Lance, (2021)