Book Description
This book argues that it is not alway true that current account deficits are intrinsically bad and in need of serious correction. John Pitchford analyzes a broad range of issues in support of this argument, discussing approaches to current account balance, short run issues, longer run issues and policy. This counterbalance to a common misapprehension in economic theory will be a valuable guide for students of international monetary theory.

About the Author
John Pitchford holds the Chair of Economics at the Australian National University.

FROM THE PUBLISHER

This book argues that it is not alway true that current account deficits are intrinsically bad and in need of serious correction. John Pitchford analyzes a broad range of issues in support of this argument, discussing approaches to current account balance, short run issues, longer run issues and policy. This counterbalance to a common misapprehension in economic theory will be a valuable guide for students of international monetary theory.