Bergsten and Williamson (Institute for International Economics, Washington, DC) introduce 11 conference papers they edited for a follow-up conference to the book Dollar Overvaluation and the World Economy (2003). Contributors concerned over adverse effects of the "strong dollar" on the world economy discuss models of equilibrium exchange rates, dollar adjustment, and new approaches to analyzing the impact of intervention on currency markets. They conclude that the dollar must decline by some 15 percent for the current deficit to be sustainable, and that Asian currencies must also be revalued. Annotation 2004 Book News, Inc., Portland, OR (booknews.com)
