There has been a significant correlation between inward foreign direct investment in the United States and the U.S. real exchange rate since the 1970s. Two alternative reasons for this relationship are that the real exchange rate affects the relative cost of production and that the real exchange...

In this speech, made shortly after the stock market crash of October 1987, President Corrigan identifies imbalances in the U.S. and the world economy that contributed to financial market instability. He emphasizes that the reduction of U.S. federal budget deficits and the removal of barriers to...