This article explores the arguments for and against the use of government debt to finance large-scale public investments. Relative to the options of higher taxation or lower other expenditures, debt finance means that both the costs and the benefits of the investment fall on future generations....

If Australia's population were to reach 40 million, it could only result from either a drastic reversal of the decline in the fertility rate or a very large increase in the rate of net migration. This lecture explores this interesting question.

"In the 2007 Wincott Lecture the author argues that global current account imbalances are an indication of 'intertemporal trade'. Savings and investment, both private and public, determine the imbalances. He expounds Richard Cooper's argument that it is perfectly natural for the USA to have a...

Este trabajo examina el rol de la protección cuando un país tiene problemas en la cuenta corriente. Se analizan los aspectos macroeconómicos de la liberalización del comercio, incluyendo su relación con la política cambiaria y con la liberalización del mercado de capitales. Finalmente, se...

The international current account imbalance, where the United States has a vast deficit and several countries, notably Japan, China, Germany and the oil exporters have corresponding surpluses, is usually seen as a problem. The argument here is that current account imbalances simply indicate...

<DIV>The previous editions of this work were praised as lucid and insightful introductions to a complicated subject. This third edition incorporates major additions to update the survey while retaining its clarity. Selected from the second edition are essential chapters on developments in...</div>

<DIV>An ambitious successor to W. Max Corden's highly acclaimed <I>Inflation, </I><BR><I>Exchange Rates, and the World Economy</I>, this book addresses topics in <BR>international macroeconomics that have come to the forefront of economic <BR>policy debates in recent years. Covering exchange rate policy, the <BR>European Monetary...</i></i></div>