Historical perspective on global imbalances
By: Michael D. Bordo.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11383; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11383.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Balance of trade -- History.; Globalization -- History.
Description: "This paper takes an historical perspectives approach to the current episode of global imbalances.  I consider four historical episodes which may give some indications as to whether the adjustment to U.S.  current account deficit will lead to a 'benign' or 'gloomy' outlook.  The episodes are: the transfer of capital in the earlier era of globalization the late nineteenth century; the interwar gold exchange standard; Bretton Woods; and the 1977-79 dollar crisis.  I conclude that adjustment in earlier era of globalization has more resonance for the current imbalance than the other scenarios"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 6/30/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.