In a recent paper in this journal, Atesoglu argued that the reduction in the rate of economic growth in the United States since 1973 was largely due to an increase in the income elasticity of demand for imports, following Thirlwall's law. The purpose of this paper is to show that the evidence...

Murthy and Ukpolo (1994) recently estimated a model of aggregate health care expenditure for the United States using cointegration techniques. Their choice of dependent variable, however, introduced the possibility of simultaneity bias in the error-correction model they presented. Their results...