Search Results
Journal Article
International payments imbalances in the 1980's: an overview
Journal Article
Uruguay Round of trade negotiations: industrial and geographic effects in the U.S
No other international trade negotiations have been so comprehensive as the Uruguay Round, in which participants agreed to liberalize trade in agricultural products, to reduce tariffs on industrial products by an average of more than one-third, and to establish a World Trade Organization. This article examines the effects of the Uruguay Round agreements to liberalize trade in goods, focusing primarily on the United States. The analysis suggests that the agreements will have only a negligible impact upon employment in nearly every U.S. manufacturing sector, in every state, and in the country ...
Journal Article
Oil shock III?
As if to affirm that "History repeats itself," the third oil shock in seventeen years has been threatening. But history never repeats itself exactly, and important differences exist between this incipient oil shock and the previous two, including differences in the likely magnitude of the shock, in the vulnerability of oil consumers, in the state of the world economy, and in the economic policy options open to governments in the industrial oil-importing countries. ; The author finds that all of these differences are favorable, tending to weaken the force of the latest shock. He cautions, ...
Journal Article
One trading world, or many: the issue of regional trading blocs
Over the past several decades, more and more countries have entered into preferential trading arrangements, provoking concern that the benefits of free trade are being sacrificed to growing discrimination. Just how widespread is this discrimination in international trade, and is it "legitimate" under the codes of international behavior to which countries generally subscribe? What does economic theory tell us about the likely consequences of such discrimination, and why do so many nations engage in it? ; The author finds that most of the preferential trading arrangements, accounting for ...
Journal Article
The terms on which nations trade
Journal Article
Perspective on Bretton Woods
Journal Article
A primer on the arms trade
Among the many consequences of the recent Persian Gulf War was a heightened interest in the international trade in armaments, with some analysts forecasting a substantial increase. This article surveys the arms trade, focusing chiefly on the economic features. The survey finds that national prosperity is not connected to a high ratio of arms exports to total output. Nor does poverty stop a nation from spending a relatively large share of its total income on arms from abroad. ; In recent years two-thirds of all arms exports have come from the United States and the Soviet Union. However, the ...
Conference Paper
International payments imbalances in the 1980s: an overview