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...

An exploration of the causes of the improved performance of the Great Lakes region in the 1990-91 recession relative to past economic downturns, and a prediction that the mild levels and duration of employment loss posted here during the past two years cannot be assured to continue in the next...

The Japanese auto industry is used as a case in point to illustrate some of the ways in which firms operating in export markets cope with exchange-rate changes.

An explanation of why current forecasts that call for vast improvements in the U.S. trade balance and real net exports in 1988 may be too optimistic.

An examination of the possible positive and negative effects that could result from a hypothetical $10 per barrel increase in tariffs on crude oil and refined oil products.

An examination of causality between dollar exchange-rate movements and U.S. price levels as described by the relative purchasing power parity theory, with a discussion of channels of price pressure and of the Hooper-Lowrey method of estimating future trends of the dollar.

An analysis of the role of foreign investment in U.S. resource allocation, finding that the large influx of foreign capital in the 1980s has been used predominantly to fund domestic investment and consumer investment spending.

A general discussion of the nature of the international debt problem and an analysis of a number of proposals for solving it.

A look at state initiatives in the interstate banking movement, including discussion about the economic and legal dimensions of regional banking pacts.

An examination of the 1978 steel trigger price mechanism, with a description of its operation and economic impact, and a discussion of events that led to its suspension in 1982.