C. Fred Bergsten, John Williamson, Fred C. Bergsten, "Dollar Overvaluation and the World Economy"
2003 | pages: 331 | ISBN: 0881323519 | PDF | 3,8 mb
The dollar rose by about 35 per cent in real terms from 1995 through the end of 2001, supporting the booming US economy of the late 1990s but pushing the current account deficit to a record high of almost 5 per cent of GDP. This special report provides alternative views of how large a dollar depreciation would be needed to restore a sustainable position; analyzes the impact of currency misalignments on each of the three major economies; and discusses the role of exchange market intervention in addressing the issues.
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