Search Results
Journal Article
Explaining the growing inequality in wages across skill levels
This article investigates two prominent explanations--technology and trade--for growing wage inequality by educational attainment. The analysis indicates a prominent role for technological improvements and a modest but still significant role for increased competition from imports.
Journal Article
Explaining the persistence of the U.S. trade deficit in the late 1980s
The U.S. trade deficit was twice as large a percentage of U.S. GDP in 1989 as in 1979 although the value of the dollar and the level of U.S. demand relative to foreign demand were roughly comparable in both years. This article investigates the reasons for the deficit's magnitude in the late 1980s. Particular attention is given to two prominent theories about the persistence of the deficit, one focusing on the relationship between exchange rate movements and capital stock developments and the other on shifts in the structure of U.S. trade flows.
Journal Article
The shifting composition of U.S. manufactured goods trade
Finished goods are claiming an increasing share of U.S. imports, while their share of U.S. exports has remained virtually unchanged in recent years. These divergent developments may suggest some erosion of the United States' traditionally strong competitive position in the production of finished goods. The author examines the factors underlying shifts in our trade composition and the implications of recent trends for the nation's trade outlook and competitiveness.
Monograph
The credit slowdown abroad