This paper surveys the academic and policy debate on the roots of global imbalances, their role in the inception of the global crisis, and their prospects in its aftermath. The conventional view holds that global imbalances result primarily from unsustainably high demand for goods in the United States and other rich countries, and that their impending correction must involve major United States trade adjustment and dollar depreciation -- although...
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INFORMATION
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2010/06/01
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Document de travail de recherche sur les politiques
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WPS5354
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1
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1
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2010/07/01
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Disclosed
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Global imbalances before and after the global crisis
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global imbalance
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