Glick, Reuven; Hutchison, Michael M - In: Economic Inquiry 28 (1990) 1, pp. 19-37
This paper takes a critical look at the conventional view that the dollar exchange rate appreciation during the early 1980s caused a major resource shift in the U.S. economy away from tradables production, such as manufactures, toward nontradables production. We argue that the association of a...