U. S. Trade Deficit: Causes, Consequences and Cures

Burger (ed.), Albert E.

ISBN 10: 0898382920 / ISBN 13: 9780898382921

Published by Kluwer Academic Publishers, Boston, 1989

About this Item

315 pages. Light green laminate boards, numerous charts, graphs and diagrams. Previous owner's signature to top right corner of front endpaper, covers very slightly discolored, pages crisp and unmarked; a very neat, tight copy. Record # 807238.

Seller Inventory # 807238

Bibliographic Details

• Title: U. S. Trade Deficit: Causes, Consequences and Cures
• Publisher: Kluwer Academic Publishers, Boston
• Publication Date: 1989
• Language: English
• ISBN 10: 0898382920
• ISBN 13: 9780898382921
• Binding: Hardcover
• Condition: Very Good

About this title

Synopsis

On October 23 and 24, 1987, the Federal Reserve Bank of St. Louis hosted its twelfth annual economic policy conference, "The U.S. Trade Deficit: Causes, Consequences, and Cures." This book contains the papers and comments delivered at that conference. A sharp decline in the value of the dollar against major foreign cur­ rencies began in March 1985 and continued through December 1987. Despite this decline, the U.S. trade deficit experienced considerable growth during this time. Many consider the simultaneous occurrence of these two events over so long a period to be a problem requiring a policy response. The conference addresses this issue. Various papers discuss the cause of the trade deficit, the reason for its size and persistence, its relation­ ship with other macroeconomic variables, its impact on other industrialized countries, and various policy proposals aimed at reducing the deficit. Session I Peter Hooper and Catherine L. Mann provide an analytical setting for the conference with their "The U.S. External Deficit: Its Causes and Persistence." Their observation that the unprecedentedly large U. S. trade imbalance is striking in both its size and its persistence could well be the subtitle of each of the papers presented. The macroeconomic studies, which Hooper and Mann summarize in their review of the existing literature, uniformly conclude that the deficit has not responded to fundamental macroeconomic determinants-relative U.S. income growth and the dollar's exchange rate-in the way that earlier, smaller U.S.