Description

The Persistence of the U.S. Trade Deficit: An Open-Economy Macroeconomic Analysis with Microeconomic Foundations (2012) by Peter C. Dawson is an academic text in International Economics, which discusses the potential macroeconomic and microeconomic causes of the persistent U.S. trade deficit so long after the 1985 U.S. dollar depreciation in foreign exchange markets that should have made U.S. products and services more price competitive in world markets. A major contribution of this book is the synthesis of the analysis of several potential microeconomic and macroeconomic causes of the persistent U.S. trade deficit into one general, open-economy macroeconomic model, which is a modified Mundell-Fleming model. This book makes a good reader for students and researchers in the areas of International Trade and International Finance (i.e., Open-Economy Macroeconomics), but it also is written in descriptive detail such that it is accessible and understandable to a broad readership.