Global imbalances: The new economy, the dark matter, the savvy investor, and the standard analysis

被引:26
|
作者
Eichengreen, Barry [1 ]
机构
[1] Univ Calif Berkeley, Dept Econ, Berkeley, CA 94720 USA
关键词
current global imbalances; US current account deficit; dark matter;
D O I
10.1016/j.jpolmod.2006.06.001
中图分类号
F [经济];
学科分类号
02 ;
摘要
In this paper I review four perspectives on global imbalances: the standard analysis questioning their sustainability and three views skeptical of this conventional wisdom. I raise questions about the internal consistency, conformance with the facts, and predictive content of each of the arguments challenging the mainstream analysis of U.S. current account sustainability. Moreover, I show that several of these objections to standard sustainability arithmetic are incompatible with one another. (c) 2006 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.
引用
收藏
页码:645 / 652
页数:8
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