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G7 current account imbalances

Name: G7 current account imbalances
Author: Richard H. Clarida

Richard H. Clarida

22 June 2007

Hardback

€232.00

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Book Synopsis

The current account deficit of the United States is more than six percent of its gross domestic product-an all-time high. And the rest of the world, including other G7 countries such as Japan and Germany, must collectively run current account surpluses to finance this deficit. How long can such unevenness between imports and exports be sustained, and what form might their eventual reconciliation take? Putting forth scenarios ranging from a gradual correction to a crash landing for the dollar, G7 Current Account Imbalances brings together economists from around the globe to consider the origins, status, and future of those disparities. An esteemed group of collaborators here examines the role of the bursting of the dot-com bubble, the history of previous episodes of current account adjustments, and the possibility of the Euro surpassing the dollar as the leading international reserve currency. Though there are areas of broad agreement-that the imbalances will ultimately decline and that currency revaluations will be part of the solution-many areas of contention remain regarding both the dangers of imbalances and the possible forms of adjustment. This volume will be of tremendous value to economists, politicians, and business leaders alike as they look to the future of the G7 economies.

About The Author

Richard H. Clarida is the C. Lowell Harriss Professor of Economics at Columbia University, Global Strategic Advisor at PIMCO, and a research associate of the National Bureau of Economic Research. In 2002-2003, he served as Assistant US Treasury Secretary for Economic Policy.

Product Details

ISBN: 9780226107264
Format: Hardback
Publisher: The University of Chicago Press, (22 June 2007)
Number of Pages: 507
Weight: 853 grams
Language: English
Dimensions: 229 x 152 x 33 mm
Series:: See all books in this series
Categories:: International Economics