Untangling the US Deficit

Richard A. IIey and Mervyn K. Lewis

in Books from Edward Elgar Publishing

Abstract: 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.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: F5 (search for similar items in EconPapers)
Date: 2007
ISBN: 9781845429201
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