G7 current account imbalances : sustainability and adjustment / edited by Richard H. Clarida.

Format:

Book

Contributor:

Clarida, Richard H.

National Bureau of Economic Research.

Series:

National Bureau of Economic Research conference report.

A National Bureau of Economic Research conference report

Language:

English

Subjects (All):

Balance of payments--Group of Seven countries--Congresses.

Balance of payments.

Physical Description:

1 online resource (518 p.)

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, 2007.

Language Note:

English

Summary:

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.

Contents:

Origins of G7 current account imbalances

Empirical studies of G7 current account and exchange rate adjustment

Theoretical perspectives on current account sustainability and adjustment.

Notes:

"The papers were ... were presented at a conference in Newport, Rhode Island in June 2005"--Introd.

Includes bibliographical references and indexes.

ISBN:

9786611125400

9781281125408

1281125407

9780226107288

0226107280

OCLC:

476228456