{"title":"William Cline","description":null,"products":[{"product_id":"united-states-as-a-debtor-nation-book-william-cline-9780881323993","title":"The United States as a Debtor Nation","description":"The United States has once again entered into a period of large external imbalances. This time the current account deficit, at nearly 6 percent of GDP in 2004, is much larger than in the last episode, when the deficit peaked at about 3.5 percent of GDP in 1987. Moreover, the deficit is on track to become substantially larger over the next several years. This study examines whether the large and growing current account deficit is a problem, and if so, how the problem can be solved. A central policy conclusion of this study is that it is increasingly important that the United States reduce its external current account deficit. This deficit is no longer benign as it arguably was in the late 1990s when it was financing high investment instead of high consumption and large government dissaving.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49537183940881,"sku":"GOR010200878","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":50372226449681,"sku":"CIN0881323993VG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":52499822117137,"sku":"CIN0881323993G","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0881323993.jpg?v=1751012233"},{"product_id":"international-debt-reexamined-book-william-cline-9780881320831","title":"International Debt Reexamined","description":"The international debt crisis that erupted in 1982 threatened the world financial system and turned the 1980s into a lost decade for Latin America. But the crisis jolted governments throughout the region into adopting sweeping economic reforms. By the early 1990s inflation was lower, growth was reviving, the major debtors had reached Brady Plan workout agreements reducing bank debt in exchange for collateral, and capital was entering the region in unprecedented magnitudes. \u003cp\u003e\u003c\/p\u003eThis study tries to make sense of this historic financial episode and to derive lessons for future policy. Cline first returns to his 1983 projection models that figured importantly in the debate at that time, and reruns them with the benefit of hindsight to see what went wrong (e.g., capital flight) and what went right (e.g., revival of industrial country growth). He provides a critical survey of the voluminous economics literature that emerged from the debt crisis. The study evaluates performance of the evolving international debt strategy, which eventually succeeded brilliantly in preserving international financial stability and restoring debtor access to credit markets but failed to achieve debtor country growth in the 1980s. \u003cp\u003e\u003c\/p\u003eThe study reviews policy reform and Brady plan results for major Latin American countries; provides new analysis of today's debt problems in Russia and Africa; and analyzes the degree of vulnerability of Latin Americas capital market renaissance to such factors as overvalued exchange rates and a resurgence of US interest rates. It concludes with suggestions for institutional change and policy guidelines to help avoid future crises.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49580997181713,"sku":"GOR003055574","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0881320838.jpg?v=1750819092"},{"product_id":"economics-of-global-warming-book-william-cline-9780881321326","title":"The Economics of Global Warming","description":"This study examines the costs and benefits of an aggressive program of global action to limit greenhouse warming. An initial chapter summarizes the scientific issues from the standpoint of an economist. The analysis places heavy emphasis on efforts over a long run of 200 to 300 years, with much greater warming and damages than associated with the conventional benchmark (a doubling of carbon dioxide in the atmosphere). Estimates are presented for economic damages, ranging from agricultural losses and sea-level rise to loss of forests, water scarcity, electricity requirements for air conditioning, and several other major effects. A survey of existing model estimates provides the basis for calculation of costs of limiting emissions of greenhouse gases. After a review of the theory of term discounting in the context of very-long-term environmental issues, the study concludes with a cost-benefit estimate for international action and a discussion of policy measures to mobilize the global response.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49952227131665,"sku":"GOR007846316","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":51836328706321,"sku":"CIN088132132XVG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":53619194200337,"sku":"CIN088132132XG","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/088132132X.jpg?v=1751420992"}],"url":"https:\/\/www.worldofbooks.com\/en-gb\/collections\/author-books-by-william-cline.oembed","provider":"World of Books ","version":"1.0","type":"link"}