Higgins, Matthew; Klitgaard, Thomas; Tille, Cédric - In: Business Economics 42 (2007) 1, pp. 17-27
Sustained large U.S. current account deficits have led some economists and policymakers to worry that future current account adjustment could occur through a sudden and disruptive depreciation of the dollar and a sharp drop in U.S. consumption. Two factors that, to date, have cast doubt on such...