Pick one of the following: Explain two effects of an open economy on monetary and fiscal policy. or Evaluate the role banks play in world financial markets. Describe two problems with banks as international lenders associated with international debt. Do this in 100-200 words
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Then do the following separate paper
2. Carbaugh Asks, “Can the United States Continue to Run Current Account Deficits Indefinitely?” Since in the long term, the obvious answer is no, perhaps the question should be rephrased to ask the following:
•Does the United States’ unique position in the world economy allow the country to safely run persistent external deficits?
•Can persistent U.S. deficits in the current and payments accounts be adjusted without bringing about economic recession or crisis?
In a 4 essay, summarize and critically evaluate the main positions provided on this in Carbaugh’s (in week6reading PDF) and the Deutsche Bank Research piece (See attached files).