Robert J Barro is a professor of economics at Harvard University and a senior fellow of the Hoover Institution rjbweekharvardedu DECEMBER 13 2004 ECONOMIC VIEWPOINT Robert J Barro ID: 94076
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Mysteries Of The Gaping Current-Account GapThe budget deficit isn't to blame, but spending discipline won't hurtFed Chairman Alan Greenspan recently expressed concern about the stubbornly high U.S. current-account deficit. I share his concern, but I find that understanding it is like unraveling a Sherlock Holmes mystery. There are lots of clues, but I am not enough of a sleuth to put them all together. The current-account deficit is amazingly large, averaging 4.4% of gross Robert J. Barro is a professor of economics at Harvard University and a senior fellow of the Hoover Institution (rjbweek@harvard.edu) DECEMBER 13, 2004 ECONOMIC VIEWPOINT Robert J. Barro