Adding the Domestic Private Sector Financial Balance
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Transcript of Adding the Domestic Private Sector Financial Balance
Adding the Domestic Private Sector Financial Balance
Fiscal Surplus
Current AccountSurplus
Fiscal Deficit
Current AccountDeficit
Domestic Private SectorFinancial Balance = 0
DPSFB = CUB - GFB
-15% -13% -11% -9% -7% -5% -3% -1% 1% 3% 5%
-15%
-13%
-11%
-9%
-7%
-5%
-3%
-1%
1%
3%
5%
19961997
19981999
20002001
2002
200320042005
2006
2007
20082009
2010
2011
Portugal
Unemployment >= 7.5%
Unemployment < 7.5%
Private Sector Balance = 0
Current Account Deficit Current Account Surplus
Govern
ment
Defi
cit
G
overn
ment
Surp
lus
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
Portugal
Government BalancePrivate Balance
Year
Perc
ent
of
GD
P
-4% -3% -2% -1% 0% 1% 2% 3% 4%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
2006
2007
2008
19961997
19981999
2000
2001
20022003
20042005
2009
2010
2011
Italy
Unemployment >= 7.5%
Unemployment < 7.5%
Private Sector Balance = 0Current Account Deficit
Current Account Surplus
Govern
ment
Defi
cit
Gov-
ern
ment
Surp
lus
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-10%
-5%
0%
5%
10%
15%
Italy
Government BalancePrivate Balance
Year
Perc
ent
of
GD
P
-8% -6% -4% -2% 0% 2% 4%
-35%
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
19992000
2001
200220032004
2005
2006
2007
2008
Ireland
Unemployment >= 7.5%Unemployment < 7.5%Private Sector Balance = 0
Current Account Deficit Current Account Surplus
Govern
ment
Defi
cit
Govern
ment
Surp
lus
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
Ireland
Government BalancePrivate Balance
Year
Perc
ent
of
GD
P
-16% -14% -12% -10% -8% -6% -4% -2% 0%
-16%
-14%
-12%
-10%
-8%
-6%
-4%
-2%
0%
1996
1997
1998
1999
20002001
20022003
2004
2005
20062007
2008
2009
2010
2011
Greece
Unemployment >= 7.5%Private Sector Balance = 0
Current Account Deficit
Govern
ment
Defi
cit
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-20%
-15%
-10%
-5%
0%
5%
10%
Greece
Government BalancePrivate Balance
Year
Perc
ent
of
GD
P
-12% -10% -8% -6% -4% -2% 0% 2%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
1996
1997
19981999
20002001
20022003
20042005
2006
2007 2008
2009
2010
2011
Spain
Unemployment >= 7.5%Private Sector Balance = 0Series5
Current Account Deficit Current Account Surplus
Govern
ment
Defi
cit
G
overn
ment
Surp
lus
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-15%
-10%
-5%
0%
5%
10%
Spain
Government BalancePrivate Balance
Year
Perc
ent
of
GD
P
-4% -2% 0% 2% 4% 6% 8%
-5%
-4%
-3%
-2%
-1%
0%
1%
2%
2010
2011
1997
1998
1999
2000
2001
2002
2003
20042005
2006
2007
2008
2009
Germany
Unemployment >= 7.5%Unemployment < 7.5%Private Sector Balance = 0
Current Account Deficit Current Account Surplus
Govern
ment
Defi
cit
G
overn
ment
Surp
lus
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
Germany
Government BalancePrivate Balance
Year
Perc
ent
of
GD
P
-4% -3% -2% -1% 0%
-5%
-4%
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
1997
1998
1999
2000
2001
2002
2003
20042005
2006
2007 2008
United Kingdom
Unemployment >= 7.5%Unemployment < 7.5%Private Sector Balance = 0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-15%
-10%
-5%
0%
5%
10%
15%
United Kingdom
Government BalancePrivate Sector Balance
Year
Perc
ent
of
GD
P
-1% 0% 1% 2% 3% 4% 5% 6%
-13%
-11%
-9%
-7%
-5%
-3%
-1%
1%
19961997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
20082009
2010
2011
Japan
Unemployment < 7.5%Private Sector Balance = 0
Current Account Surplus
Govern
ment
Defi
cit
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-15%
-10%
-5%
0%
5%
10%
15%
20%
Japan
Government BalancePrivate Balance
Year
Perc
ent
of
GD
P
-7% -6% -5% -4% -3% -2% -1% 0% 1%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
1996
1997
1998
19992000
2001
2002
2003
20042005
2006
20072008
United States
Unemployment >= 7.5%Unemployment < 7.5%Private Sector Balance = 0
Current Account Deficit
Govern
ment
Defi
cit
Govern
ment
Surp
lus
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-15%
-10%
-5%
0%
5%
10%
United States
Government BalancePrivate Balance
Year
Perc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
Current Account 1996P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
Current Account 1997P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
Current Account 1998P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
Current Account 1999P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
Current Account 2000P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
Current Account 2001P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
Current Account 2002P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-7.0%
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
Current Account 2003P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
Current Account 2004P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
Current Account 2005P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
Current Account 2006P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
Current Account 2007P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
Current Account 2008P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-14.0%
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
Current Account 2009P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
Current Account 2010P
erc
ent
of
GD
P
Portugal Italy Ireland Greece Spain Germany France
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
Current Account 2011P
erc
ent
of
GD
P