Title

An Evaluation of Policies to Resolve the Trade Deficit

Document Type

Book Chapter

Department

Economics (CMC)

Publication Date

1989

Abstract

In policy discussions of the “trade problem” three explanations of the U.S. experience in the 1980s have received particular attention. One is essentially macroeconomic in orientation and attributes the U.S. trade deficit to an excess of domestic aggregate demand over supply. The others stress the importance of trade-specific factors generally and of unfair trade practices and declining comparative advantage in particular.1 The first sees restoration of macroeconomic balance at home as the principal means to trade balance improvement, while the other two focus on trade and industry specific policies.

Rights Information

© 1989 Springer-Verlag

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