Technology Capital and the U.S. Current Account
---- Acknowledgements -----
Appendices, data, and codes are available at our website http://www.minneapolisfed.org/research/sr/sr406.html. We thank seminar participants at NYU, UPenn, Berkeley, ITAM, Miami, the SED, Kansas, Toronto, the IMF, Maryland, and the Federal Reserve Banks of Kansas City, Minneapolis, New York, Philadelphia, and San Francisco for feedback on earlier drafts of the paper. The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis, the Federal Reserve System, or the National Bureau of Economic Research.