Stevens, Guy V.G. - In: Federal Reserve Bulletin (1997) May, pp. 357-367
After stabilizing in 1995, the U.S. current account deficit widened in 1996 to $165 billion. The deficit increased sharply in the first three quarters of the year, but, because of strong export growth, narrowed significantly in the fourth quarter. The widening of the deficit by $17 billion was...