Beyond the Twin Deficits: A Trade Strategy for the 1990's
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A01=Robert A. Blecker
Author_Robert A. Blecker
Average Annual Productivity Growth Rate
balance
Bilateral Deficit
Category=JPQB
Category=KCLT
Chronic Trade Surpluses
costs
Current Account Balance
debt relief strategies
Dollar Depreciation
East Asian NICs
Energy Policy
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
eq_society-politics
exchange
exchange rate adjustment
Expansionary Fiscal Policy
Export Demand Equations
Export Led Growth
Federal Reserve
Fiscal Expansion
Imbalance Indexes
Import Surcharge
international competitiveness
labor
low
Low National Saving Rate
Low Unit Labor Costs
macro
merchandise
Merchandise Trade Deficit
national
Net Foreign Saving
policies
SITC
Taiwan Dollar
technological innovation policy
Trade Deficit
trade policy reform
Twin Deficits
unit
Unit Labor Costs
US trade deficit policy solutions
wage dynamics analysis
West Germany
Product details
- ISBN 9781563240911
- Weight: 453g
- Dimensions: 152 x 229mm
- Publication Date: 30 Apr 1992
- Publisher: Taylor & Francis Inc
- Publication City/Country: US
- Product Form: Paperback
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This study documents evidence of a decline trend in the international competitiveness of US industry. The analysis identifies three groups of countries that account for most of the US trade deficit in the 1980s: the surplus countries, Germany and Japan; the East Asian NICs; and the Latin American debtors. In each case the author points to underlying structural problems contributing to the deficit. They call for quite different US policy responses, including microeconomic and industrial policies, incentives to revive productivity, growth and technological innovation, import surcharges, wage increases in the NICs, currency realignments, US capital exports, and debt relief. A pragmatic policy approach, with efforts to open foreign markets, aims to achieve the greatest possible reduction in the trade deficit with the lowest possible cost from macroeconomic adjustments. The author urges the reversal of two adverse trends in his policy strategy: the decline in public sector investment and the decreasing progressivity of the tax code.
