Alessandrini, Pietro Alessandrini, Sr.; Fratianni, Michele - Dipartimento di Scienze Economiche e Sociali, Facoltà … - 2008
There is a broad consensus that the current, large US current-account deficits financed with foreign capital inflows at low interest rates cannot continue forever; there is much less consensus on when the system is likely to end and how badly it will end. The paper resurrects the basic...