[fre] The oil deficit and the trade balance a study of France and Germany. The quadrupling of the price of oil and the recession which ensued had markedly different effects on the trade balance of France and Germany between 1973 and 1978. Germany registered a surprising increase in its trade...

The author summarizes the report’s methods, findings, and recommendations, and then reviews the comments and criticisms that appeared soon after the report was issued. Changes in CPI methodology are also summarized and assessed, as is recent research on related issues. Based on recent...