Beschreibung
The sixth volume in this series of books analyzes the phenomenon of the
unprecedentedly high U.S. current account deficit and its counterpart
surpluses in the rest of the world. The author develops a four-region
model focusing on the United States, Europe, Asia and the oil-exporting
countries in order to compute the real exchange rate changes which might
accompany a reduction in the world’s current account imbalances. In
addition to the economics of a purely demand-side-driven world, the impact
of a flexible supply side on the behavior of the relevant economic
variables is modeled and analyzed.
