A fire sale of US debt could cause a global recession through disorderly devaluation of the dollar, raising interest rates and crashing stock markets. The G7 doctrine of shared responsibility intends to coordinate regional efforts. This book analyzes the main issues and individual regions,...

The U.S. dollar has served as the key currency of the international economic/financial system for over fifty years. This study assesses the proposition that the series of U.S. current-account deficits over the last twenty years will shortly exhaust the capability of the dollar to continue as the...

China’s trade surplus is an essential question, but there are many popular misconceptions about it, a fact that prompted the creation of this book, On China's Trade Surplus. It will help readers to understand the manner in which China’s foreign trade and China’s role in global trade have...

Since the mid-1990s, sustainability of large and persistent current account positions have been attracting much attention from policy makers and economists alike. Alongside global imbalances, sustainability of imbalances within the euro area, which started widening shortly after the introduction...

This book analyzes key international monetary issues from a macro-foundations perspective. It proposes novel frameworks to interpret macroeconomic and financial linkages for globally integrated economies, examining global imbalances, exchange rates, interest rates, international capital flows,...

Have you ever puzzled over the causes of the 2007-8 financial crisis and wondered how it will affect all our futures? If so, this book is for you. Using imagined dialogue between three economists with contrasting theoretical perspectives and a student who knows little about economics, different...

The International Papers in Political Economy (IPPE) series explores the latest developments in political economy. This twelfth volume presents a collection of eight papers, examining the origins of the international financial crisis of 2007/2008 and the great recession by focusing on emerging...