Trade and economic policy -- The modern trade debate among economists -- The making and impact of trade agreements in national legal systems -- The WTO : history, structure, and future -- WTO dispute settlement -- Special topics in WTO dispute settlement -- Tariffs -- Quantitative restrictions...

Global imbalances associated with the U.S. current account deficit have given rise to speculation about the nature of the impending adjustment: Will it be smooth and gradual, or will it be sudden and costly? This paper summarizes the two views and then considers three historical periods with...