Titlebook: U.S. Trade Deficit: Causes, Consequences, and Cures; Proceedings of the T Albert E. Burger Conference proceedings 1989 Kluwer Academic Publ

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Commentary. Counterfactual policy analysis should be the forte of structural econometric models. Often, by employing the full structure of a model, useful analytical results that are the outcome of the interplay within the model emerge; results that would be missed if the analysis were limited to a few variables.

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Trade Deficits in the Long Runnd to the dollar’s real depreciation entertain the possibility that the competitiveness of exporting and import-competing firms has been damaged permanently by the deficits experienced in the interim.

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Commentary Back in 1985, we heard that budget deficits supposedly made the dollar go up, yet only two years later the same economists were warning that the dollar would surely go into a precipitous “free fall” unless the budget deficit (which had already fallen by a third) was dramatically reduced. Trade defi

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The Current Account and Macroeconomic Policy: An Econometric Analysisgh 1987. Investment recovered rapidly after the 1981–1982 recession and has remained abnormally high by U.S. standards in the five years since the recession ended. Domestic saving also recovered rapidly after the 1981–1982 recession, but starting in late 1982, saving fell as a ratio to income. Paral

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