1 online resource (257 pages)
Type of publication: Book / Working Paper
Language: English
Description based on publisher supplied metadata and other sources.
Title; Copyright; Dedication; Contents; CHAPTER ONE Trade Imbalances and the Global Financial Crisis; Underconsumption; The Different Explanations of Trade Imbalance; Destabilizing Imbalances; We Have the Tools; Why the Confusion?; Some Accounting Identities; The Inanity of Moralizing; The New Economic Writing; CHAPTER TWO How Does Trade Intervention Work?; Trade Intervention Affects the Savings Rate; Currency Manipulation; Exporting Capital Means Importing Demand; What Happens If China Revalues The Renminbi?; Wealth Is Transferred within China; Does China Need a Social Safety Net?
CHAPTER THREE The Many Forms of Trade InterventionHow Changes in Wealth Affect Savings; Wage Growth; Trade Policy as the Implicit Consequence of Transfers; Financial Repression; Higher Interest Rates and Household Wealth; Do Higher Interest Rates Stimulate or Reduce Consumption?; Currency Versus Interest Rates; CHAPTER FOUR The Case of Unbalanced Growth in China; What Kind of Imbalance?; Growth Miracles Are Not New; The Brazilian Miracle; Powering Growth; Paying for Subsidies; Limits to Backwardness; The Trade Impact; A Lost Decade?; Can China Manage the Transition More Efficiently?
Some More MisconceptionsCHAPTER FIVE The Other Side of the Imbalances; Can Europe Change American Savings Rates?; How Does Trade Rebalance?; Globalization Is Not Bilateral; The Global Shopping Spree; Trade Remains Unbalanced; CHAPTER SIX The Case of Europe; The Mechanics of Crisis; Too Late; German Thrift; Forcing Germany to Adjust; Two-sided Adjustment; CHAPTER SEVEN Foreign Capital, Go Home!; Swapping Assets; It's about Trade, Not Capital; Trade Imbalances Lead to Debt Imbalances; The Current Account Dilemma; CHAPTER EIGHT The Exorbitant Burden; Why Buy Dollars?
It Is Better to Give Than to ReceiveForeigners Fund Current Account Deficits, Not Fiscal Deficits; Rebalancing the Scales; When Are Net Capital Inflows a Good Thing?; Can We Live without the Dollar?; Why Not Use SDRs?; An American Push Away From Exorbitant Privilege; CHAPTER NINE When Will the Global Crisis End?; Transferring the Center of the Crisis; Reversing the Rebalancing; Some Predictions; The Global Impact; Notes; Index
ISBN: 978-1-4008-4662-7 ; 978-0-691-16362-8
ECONIS - Online Catalogue of the ZBW
Persistent link: https://www.econbiz.de/10012689823