An Examination of International Trade Data in the 1980s
FRB Richmond Economic Review, Vol. 75, No. 2, March/April 1989, pp. 21-27
7 Pages Posted: 2 Nov 2012
Date Written: 1989
Abstract
This article examines three competing hypotheses and their ability to explain events in international financial markets during the 1980s. The rival hypotheses view the trade deficit as caused alternatively by large U.S. budget deficits, by tight U.S. monetary policy, or by real shocks to investment resulting from changes in the U.S. tax code. While no entirely consistent explanation emerges, the real-shock hypothesis seems to match the data best.
Suggested Citation: Suggested Citation
Dotsey, Michael, An Examination of International Trade Data in the 1980s (1989). FRB Richmond Economic Review, Vol. 75, No. 2, March/April 1989, pp. 21-27, Available at SSRN: https://ssrn.com/abstract=2125344
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