Hickok, Susan; Hung, Juann - In: Quarterly Review (1991) Win, pp. 29-46
The U.S. trade deficit was twice as large a percentage of U.S. GDP in 1989 as in 1979 although the value of the dollar and the level of U.S. demand relative to foreign demand were roughly comparable in both years. This article investigates the reasons for the deficit's magnitude in the late...
