Untangling the US Deficit Evaluating Causes, Cures and Global Imbalances
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Richard A. Iley, Chief Asia Economist, SPX Capital and Mervyn K. Lewis, Emeritus Professor, University of South Australia and Emeritus Fellow, Academy of the Social Sciences in Australia<i>'The book would be a good companion text for an undergraduate class in international finance or open-economy macroeconomics.'</i>
- Catherine L. Mann, Journal of Economic Literature,
'Untangling the US Deficit<i> is a unique and well-researched book and will be of great interest to academic economists and postgraduates. Policymakers, business and market economists will also find it an enlightening and challenging analysis.'</i>
- sirreadalot.org,
<i>'The book is written in a very accessible fashion, even though the authors strive to accommodate competing and complex views on the causes and cures of the US external deficit, which makes for enjoyable and informative reading. Their reliance on data, charts and bibliography result in persuasive arguments. Recommended. General readers; upper-division undergraduates through practitioners.'</i>
- A. Sharma, Choice,
<i>'What are the causes of the US current account deficit? Are the problems "made in the US" or the rest of the world? Are these deficits sustainable, at what level? These are the types of questions the authors set out to answer, and in essence conclude that the answers do not matter for global stability as long as imbalances are left to market forces and the US can avoid large net income outflows. The beauty of this book, however, is watching the authors (the unusual combination of a business economist and an academic economist) arrive at this conclusion. They provide insights that can come only from years of practical and theoretical experience.'</i>
- William E. Becker, Indiana University, Bloomington, US,
This unique and well-researched book will be of great interest to academic economists and postgraduates. Policy-makers, business and market economists will also find it to be an enlightening and challenging account.