I discuss the need for trade models to incorporate endogenous trade imbalances both to more adequately capture the reality of a global economy with large imbalances and pressures from the financial crisis for countries to reduce imbalances. Conventional general equilibrium trade models...

"The dynamism in modern Asia, especially with the current revival in Japan, stands in sharp contrast to the situation in Europe. An in-depth understanding of what is happening in contemporary Asia is key to grasping opportunities that this dynamism creates for all. This multi-volume reference...