A repudiation of three common beliefs about foreign direct investment in the United States: that it is the result of the current-account deficit, that it is initiated primarily by the Japanese, and that it will result in the loss of U.S. economic independence.

A consideration of whether differences between U.S. and Japanese business practices have led the Japanese to focus on longer-run goals than we do.

A discussion of the costs associated with trade restraint, focusing on devices currently used or recently proposed in the United States.

A comparison of the reliability of the Commerce Department's capital spending survey with that of several alternative forecasts.

A discussion of the reasons for the shift in U.S. coal production to western states, with data on production (1970-81) and consumption (1970- 80) by region, plus an examination of the nation's coal production outlook.

An examination of public policy issues related to the growth of interstate banking, such as its potential effects on concentration, competition, and soundness in the banking industry.

An estimation of the costs and benefits that dollar depreciation imposes through changes in the prices of imports and exports, and through changes in the potential purchasing power of U.S. international assets and liabilities.

An examination of the theoretical impact of an oil shortage on the U.S. economy and the problems that such shortages present for monetary policy.

An argument that for countries with well-developed money markets and flexible exchange rates, there is little to be gained from holding a vast foreign exchange portfolio and intervening in the world's currency markets.

An examination of the Composite Index of Leading Indicators and its record as a forecasting tool. The authors conclude that while the index can provide useful information about business peaks and troughs, its value is limited by a tendency to give false signals, and its worth greatly increases...