Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
The Adjustment Of The Us Current Account Imbalance
Download The Adjustment Of The Us Current Account Imbalance full books in PDF, epub, and Kindle. Read online The Adjustment Of The Us Current Account Imbalance ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis G7 Current Account Imbalances by : Richard H. Clarida
Download or read book G7 Current Account Imbalances written by Richard H. Clarida and published by University of Chicago Press. This book was released on 2007-11-01 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Untangling the US Deficit by : Richard A. Iley
Download or read book Untangling the US Deficit written by Richard A. Iley and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book would be a good companion text for an undergraduate class in international finance or open-economy macroeconomics. Catherine L. Mann, Journal of Economic Literature Untangling the US Deficit is a unique and well-researched book and will be of great interest to academic economists and postgraduates. Policymakers, business and market economists will also find it an enlightening and challenging analysis. sirreadalot.org The book is written in a very accessible fashion, even though the authors strive to accommodate competing and complex views on the causes and cures of the US external deficit, which makes for enjoyable and informative reading. Their reliance on data, charts and bibliography result in persuasive arguments. Recommended. General readers; upper-division undergraduates through practitioners. A. Sharma, Choice What are the causes of the US current account deficit? Are the problems made in the US or the rest of the world? Are these deficits sustainable, at what level? These are the types of questions the authors set out to answer, and in essence conclude that the answers do not matter for global stability as long as imbalances are left to market forces and the US can avoid large net income outflows. The beauty of this book, however, is watching the authors (the unusual combination of a business economist and an academic economist) arrive at this conclusion. They provide insights that can come only from years of practical and theoretical experience. William E. Becker, Indiana University Bloomington, US As the US current account deficit has expanded to a record level of $811 billion in 2006, debate about the deficit s causes and consequences has also grown. Is the deficit a product of American profligacy or a glut of savings in the rest of the world? Is it a serious problem or essentially benign? Untangling the US Deficit charts a course between the competing explanations in a systematic and rigorous approach, incorporating the latest academic research and market data. Particular attention is given to the China United States trade imbalance and to the special role of the US dollar and US capital markets in global finance. This unique and well-researched book will be of great interest to academic economists and postgraduates. Policy-makers, business and market economists will also find it to be an enlightening and challenging account.
Book Synopsis Is the U.S. Trade Deficit Sustainable? by : Catherine L. Mann
Download or read book Is the U.S. Trade Deficit Sustainable? written by Catherine L. Mann and published by Peterson Institute. This book was released on 1999 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis of 1997-98 and the widening US trade deficit have precipitated fresh inquiry into a set of perennial questions about global integration and the US economy. How has global integration affected US producers and workers, and overall growth and inflation? Is a chronic and widening deficit sustainable, or will the dollar crash, perhaps taking the economy with it? If the problem was one of "twin deficits," as many thought, why has the trade deficit continued to grow even as the budget deficit narrowed to zero? If US companies are so competitive, why does the trade deficit persist? Is the trade deficit a result of protectionism abroad? Will it lead to protectionism at home? What role do international capital markets have? Each chapter presents relevant data and a simple analytical framework as the basis for concise discussions of these major issues. The final section of the book provides an outlook for the deficit and suggests alternative policy courses for dealing with it. This book is designed for policymakers and others who are interested in the US role in the world economy. It is also suitable for courses in international economics, business, and international affairs.
Book Synopsis The US Current Account Deficit by : Rui C. Mano
Download or read book The US Current Account Deficit written by Rui C. Mano and published by . This book was released on 2008 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current global imbalances are a source of concern for most economic policy leaders and scholars. As important as explaining how the present situation arose, it is relevant to have a prospective view of what is to follow.The aim of this work is to discuss adjustment and sustainability of the US Current Account deficit and prospective impacts for the world. US Current Account deficit has reached new all time highs, so it seems interesting to assess its adjustment.Based on recent literature and data, an argument for smooth adjustment is put forward. Firstly, theoretical foundations behind a potential smooth adjustment are presented; secondly, soft landing scenarios are tested using Cavallo and Tille (2006) model.The main conclusion is that a soft landing of the dollar is possible. Most importantly, some factors normally unaccounted for might facilitate this smoother resolution.
Book Synopsis The U.S. Current Account Deficit - Whose Problem is It? by : Hauke Barschel
Download or read book The U.S. Current Account Deficit - Whose Problem is It? written by Hauke Barschel and published by GRIN Verlag. This book was released on 2007-12-10 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Economics - International Economic Relations, grade: 1,7 (A-), Anglia Ruskin University (Ashcroft International Business School), language: English, abstract: Since the beginning of the 1980s in almost every year the United States (US or USA) current account has shown a deficit. After a brief overview about the components of a country's current account this work provides an analysis of the US deficit's effects on the US economy. Furthermore it investigates effects on economies outside the US in order to verify whose problem it is.
Book Synopsis External Adjustment by : Maurice Obstfeld
Download or read book External Adjustment written by Maurice Obstfeld and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can amount to significant fractions of GDP. These fluctuations in asset values render the national income and product account measure of the current account balance increasingly inadequate as a summary of the change in a country's net foreign assets. Nonetheless, unusually large current account imbalances, especially deficits, should remain high on policymakers' list of concerns, even for the richer and less credit-constrained countries. Extreme imbalances signal the need for large and perhaps abrupt real exchange rate changes in the future, changes that might have undesired political and financial consequences given the incompleteness of domestic and international asset markets. Furthermore, of the two sources of the change in net foreign assets -- the current account and the capital gain on the net foreign asset position -- the former is better understood and more amenable to policy influence. Systematic government attempts to manipulate international asset values in order to change the net foreign asset position could have a destabilizing effect on market expectations"--NBER website
Book Synopsis Balance of Payments Imbalances, by Alan Greenspan by : International Monetary Fund
Download or read book Balance of Payments Imbalances, by Alan Greenspan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-12-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the developing countries, which accounted for nearly half the value of those surpluses, were apparently unable to find sufficiently profitable investments at home that overcame market and political risk. The United States a decade ago likely could not have run up today’s near $800 billion annual deficit for the simple reason that we could not have attracted the foreign savings to finance it. In 1995, for example, total cross-border saving was less than $300 billion. The long-term updrift in this broader swath of unconsolidated deficits and mostly offsetting surpluses of economic entities has been persistent but gradual for decades, probably generations. However, the component of that broad set that captures only the net foreign financing of the imbalances of the individual US economic entities, our current account deficit, increased from negligible in the early 1990s to 6.2 percent of our GDP by 2006.
Book Synopsis Coping with the Inevitable Adjustment in the US Current Account by : Peter Jarrett
Download or read book Coping with the Inevitable Adjustment in the US Current Account written by Peter Jarrett and published by . This book was released on 2005 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years the US current account deficit has grown to the point that most observers consider its level to be already unsustainable. Yet it seems set to continue to increase in the foreseeable future, with net foreign debt likely to surge. This paper describes the present deficit from three points of view: imbalances of imports over exports of goods, services and income; of inflows over outflows of capital; and of investment and spending over savings and income in the domestic economy. It then examines the possible causal factors for these disequilibria and goes on to describe the arguments for both optimistic and pessimistic views as to their unwinding over time. Last, it suggests a number of policy conclusions as to how the US authorities should factor the presence of the deficit into their decision-making, even though they rightly do not view it as a target outcome. The bottom line is that the importance of avoiding disincentives to save and of maintaining as much flexibility as possible in the economy is reinforced by the risks posed by the deficit. This Working Paper relates to the 2005 OECD Economic Survey of the United States (www.oecd.org/eco/surveys/us).
Book Synopsis The Adjustment of the US Current Account Imbalance by : G. Gomel
Download or read book The Adjustment of the US Current Account Imbalance written by G. Gomel and published by . This book was released on 1989 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fundamentals at Odds? The U.S. Current Account Deficit and The Dollar by : Mr.Gian Milesi-Ferretti
Download or read book Fundamentals at Odds? The U.S. Current Account Deficit and The Dollar written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 2008-11-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The real effective exchange rate of the dollar is close to its minimum level for the past 4decades (as of September 2008). At the same time, however, the U.S. trade and currentaccount deficits remain large and, absent a significant correction in coming years, wouldcontribute to a further accumulation of U.S. external liabilities. The paper discusses thetension between these two aspects of the dollar assessment, and what factors can helpreconcile them. It focuses in particular on the terms of trade, adjustment lags, andmeasurement issues related to both the real effective exchange rate and the current accountbalance.
Book Synopsis Foreign Exchange Value of the Dollar by :
Download or read book Foreign Exchange Value of the Dollar written by and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia by : Ms.Isabelle Mejean
Download or read book Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia written by Ms.Isabelle Mejean and published by International Monetary Fund. This book was released on 2011-03-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: A reduction in the U.S. current account deficit vis-à-vis emerging Asia involves a shift in demand from U.S. to emerging Asia tradable goods and a change in international relative prices. This paper quantifies the required adjustment in the terms of trade and real exchange rates in a three-country open economy model of the U.S., China, and other emerging Asia. We compare scenarios where both Chinese and other emerging Asian export prices change by the same proportion to the case where export prices remain constant in one country and increase in the other. Our results are robust to different assumptions about elasticities of substitution and to introducing a high degree of vertical fragmentation in production in the model.
Book Synopsis The Dot-com Bubble, the Bush Deficits, and the U.S. Current Account by : Aart Kraay
Download or read book The Dot-com Bubble, the Bush Deficits, and the U.S. Current Account written by Aart Kraay and published by World Bank Publications. This book was released on 2005 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors challenge this view here and develop two alternative interpretations. Both are based on the notion that a bubble (the "dot-com" bubble) has been driving the stock market, but differ in their assumptions about the interactions between this bubble and fiscal policy (the "Bush" deficits). The "benevolent" view holds that a change in investor sentiment led to the collapse of the dot-com bubble and the Bush deficits were a welfare-improving policy response to this event. The "cynical" view holds instead that the Bush deficits led to the collapse of the dot-com bubble as the new administration tried to appropriate rents from foreign investors. The authors discuss the implications of each of these views for the future evolution of the U.S. economy and, in particular, its net foreign asset position."
Book Synopsis The U.S. Current Account Deficit and the Global Economy by : Lawrence H. Summers
Download or read book The U.S. Current Account Deficit and the Global Economy written by Lawrence H. Summers and published by . This book was released on 2004 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Sharp Reductions in Current Account Deficits by : Mr.Gian Milesi-Ferretti
Download or read book Sharp Reductions in Current Account Deficits written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1997-12-01 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies determinants and consequences of sharp reductions in current account imbalances (reversals) in low- and middle-income countries. It poses two questions: what triggers reversals, and what factors explain how costly reversals are? It finds that both domestic variables, such as the current account balance, openness to trade, and the level of reserves, and external variables, such as terms of trade shocks, U.S. real interest rates, and growth in industrial countries, seem to play important roles in explaining reversals in current account imbalances. It also finds some evidence that countries with a less appreciated real exchange rate, higher investment, and more openness before the reversal tend to grow faster after a reversal occurs.
Book Synopsis Is the U.S. Current Account Deficit Sustainable? by : Sebastian Edwards
Download or read book Is the U.S. Current Account Deficit Sustainable? written by Sebastian Edwards and published by . This book was released on 2005 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In this paper I analyze the relationship between the U.S. dollar and the U.S. current account. I deal with issues of sustainability, and I discuss the mechanics of current account adjustment. The analysis presented in this paper differs from other work in several respects: First, I emphasis the dynamics of the current account adjustment, going beyond computations of the "required" real depreciation of the dollar to achieve sustainability. I show that even if foreigners' (net) demand for U.S. assets continues to increase significantly, the current account deficit is likely to experience a large decline in the (not too distant) future. Second, I rely on international evidence to explore the likelihood of an abrupt decline in capital flows into the U.S. And third, I analyze the international evidence on current account reversals, to investigate the potential consequences of a (possible) sudden stop of capital flows into the U.S. This analysis suggests that the future adjustment of the U.S. external accounts is likely to result in a significant reduction in growth"--National Bureau of Economic Research web site.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1557755701 Total Pages :159 pages Book Rating :4.5/5 (577 download)
Book Synopsis Balance of Payments Textbook by : International Monetary Fund
Download or read book Balance of Payments Textbook written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-04-15 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Balance of Payments Textbook, like the Balance of Payments Compilation Guide, is a companion document to the fifth edition of the Balance of Payments Manual. The Textbook provides illustrative examples and applications of concepts, definitions, classifications, and conventions contained in the Manual and affords compilers with opportunities for enhancing their understanding of the relevant parts of the Manual. The Textbook is one of the main reference materials for training courses in balance of payments methodology.
