International Financial Issues in the Pacific Rim: Global Imbalances, Financial Liberalization, and Exchange Rate Policy.

• Position: Bureau Books

International Financial Issues in the Pacific Rim: Global Imbalances, Financial Liberalization, and Exchange Rate Policy, which is Volume 17 in NBER's East Asia Seminar on Economics series, is now available from the University of Chicago Press. The price of the clothbound volume is $99.00

The imbalanced, yet mutually beneficial, trading relationship between the United States and Asia has long been one of international finance's most perplexing mysteries. This volume considers why the United States enjoys a seemingly symbiotic relationship with its trading partners despite stark inequalities in the trade balance, especially with Asia. This timely and well-informed study also debunks the assumed link between economic openness and low inflation in the region, identifies the serious gap between academic and private-sector researchers' understanding of exchange rate volatility, and analyzes the liberalization of Asian capital accounts. As a result, the book will have broad implications for global trade and economic policy issues in Asia and beyond.

Conference organizers and volume editors Takatoshi Ito and Andrew K. Rose are...