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Implications of Past Currency Crises for the U.S. Current Account Adjustment [i] (June 2006)

handle is hein.congrec/cbo0909 and id is 1 raw text is: W~orking Paper Series Congressional Budget Office Washington, DC IMPLICATIONS OF PAST CURRENCY CRISES FOR THE U.S. CURRENT ACCOUNT ADJUSTMENT Juann H1. lung Macroeconomic Analvsis Division Congressional Budget Office Young Jin Kim* Department of Economics Petusylvania State University June 2006 2006-07 Working papers in Ihis series are preliminary and are circulated to stimulate discubsion and crilical conminent. These papers are not sulbject to CBO's formal review and editing processes. Tlne analysis and conclusions expressed In them are those of the authors and should not be Interpreted as those of the Congressional Budget Office. References in publications should be cleared wilh the aulhors. Papers In this series can he obtained at www.cbo.gov (select Publicathms and then Working Papers). * Young Jim Kim was a summer associate at the Congressional Budget Orfice in 2005. We thank Menzie hirnn ol University ol'isconsin, and colleagues at ihe Co('ngressional Budget llice, especially Bruce Arnold. Thomas DeLcirc, Bob Dcnnis, Naomi Griffin. Doug Hamilton, Kim Kowalcwski, and John Peterson for valuable input. Adamn Webers valuable research assistance is much appreciated.

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