G7 Current Account Imbalances: Sustainability and Adjustment.

• Position: Bureau Books

G7 Current Account Imbalances: Sustainability and Adjustment, edited by Richard H. Clarida, is available from the University of Chicago Press this spring. The price of this NBER Conference Report is $99.00.

The current account deficit of the United States is more than 6 percent of its gross domestic product--an all-time high. The rest of the world, including other G7 countries such as Japan and Germany, collectively must run current account surpluses to finance this deficit. How long can such unevenness between imports and exports be sustained, and what form might their eventual reconciliation take? Putting forth scenarios ranging from a gradual correction to a crash landing for the dollar, G7 Current Account Imbalances brings together economists from around the globe to consider the origins, status, and future of those disparities.

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