Righting Global Imbalances: Recession, Protection or Reflation?

Alex Izurieta and George Irvin

Chapter 6 in Euroland and the World Economy, 2007, pp 104-131 from Palgrave Macmillan

Abstract: Abstract As highlighted in other chapters in this book, current global imbalances are unprecedented, with the United States running the biggest deficit ever seen, to the tune of an annualized USD 900 billion in the fourth quarter of 2005. Contributors to this book agree that US overseas indebtedness cannot continue growing indefinitely and that a global collapse could ensue in the absence of a change of policy.

Keywords: Current Account; Euro Area; Aggregate Demand; Current Account Deficit; Policy Coordination (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230377554_7

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