Untangling the US Deficit: Evaluating Causes, Cures and Global ImbalancesEdward Elgar Publishing, 2007年1月1日 - 272 頁 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 gre |
內容
| 1 | |
| 16 | |
3 National accounting perspectives | 44 |
4 The international perspective | 86 |
5 Nature of the adjustment mechanisms | 119 |
6 The sustainability of the deficit | 138 |
7 The demand for US assets | 170 |
8 China and the United States | 201 |
9 Conclusion | 230 |
References | 245 |
Index | 265 |
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常見字詞
account surplus adjustment Alan Greenspan American argued Asia Asian asset prices Australian average balance of payments Bernanke billion bonds boom borrowing Bretton Woods Bretton Woods system budget deficit calculations capital account capital flows cent of GDP central bank Chapter China Chinese consumption countries country’s current account balance current account deficit dark matter demand depreciation disposable income domestic economic Economist elasticities equity euro eurozone excess exchange rate exports external balance Federal funds rate Federal Reserve Bank Figure financial markets foreign assets foreign debt global savings glut gold Greenspan growth home bias house prices imports increase inflation inflows international investment position investment income investors Japan liabilities liquidity monetary policy NIID NIIP overseas perspective portfolio production ratio relative renminbi Reuters Ecowin rise risk saving and investment sector spending sustainability tion trade deficit Treasury trillion United yuan
熱門章節
第 84 頁 - ... to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.
第 206 頁 - After all, China is the only large area which has never, at any period, been brought under the rule of the West, and the only region where an alternative ancient tradition has flourished and been maintained down to modern times.
第 139 頁 - has enabled the United States to incur and finance a much larger current account deficit than would have been feasible in earlier decades" (Greenspan 2004a, 5). He cited a Federal Reserve staff study indicating that in developed countries since 1980, current account deficits had "risen as high as double-digit percentages of GDP before markets enforced a reversal.
第 106 頁 - So the key-currency country never feels the effect of a deficit in its balance of payments. And the main consequence is that there is no reason whatever for the deficit to disappear, because it does not appear. Let me be more positive: If I had an agreement with my tailor that whatever money I pay him he returns to me the very same day as a loan, I would have no objection at all to ordering more suits from him and my own balance of payments would then be in deficit.
第 247 頁 - Broda, Christian and David Weinstein (2005), Are we underestimating the gains from globalization for the United States?', Current Issues in Economics and Finance, 11 (4), 1-7.
第 199 頁 - ... ability of a country's economy to produce. Since by hypothesis we are not "going to do that, I dp not see why you are really taxing the individual taxpayer by inflation. Similarly, in a domestic situation, the Federal Reserve in this country can create an expansion of the money supply at the rate of 2 percent a year, 3 percent a year, 4 percent a year, whatever it wants to. As long as the actual rate selected does not cause the wheels to spin too fast, there is no harm done. There is no inflation....
第 ix 頁 - OECD Organisation for Economic Co-operation and Development PBOC People's Bank of China...
第 122 頁 - ... standards. A fiat standard may be described in a negative sense as a monetary system in which the value or purchasing power of the monetary unit is not kept equal to the value of a specific quantity of a particular commodity or of a group of commodities.
第 20 頁 - MarshallLerner condition which states, in effect, that_depreciation will improve the balance of payments of a country and appreciation worsen it, if the sum of the elasticities of demand for a country's exports and of its demand for imports is greater than one.
第 111 頁 - Despite loose talk today about a benign new Pax Americana, many Americans and many more people overseas are uncomfortable with the image of an America acting unilaterally around the world, breaking treaties at will, giving lip service to allies and international institutions while claiming for itself the sole legitimate use of force anywhere, anytime it feels threatened.