Barack Obama gave a fine speech at the Democratic National Convention on Thursday. But I’m troubled by what I see as its underlying economic philosophy.
Category Archives: deficits
The Dollar and the Trade Deficit: How Does Productivity Fit In?
Why is the trade deficit, even taking out oil, so large when the dollar is so weak? Maybe some insights can be gleaned from productivity measures.
Current Account Adjustment Redux? What’s Different this Time Around
The Fannie and Freddie assistance plan
I see much to like about this.
Two Interesting Facts of the Day
As of 2008Q1, wholly 100% of the increase in the trade deficit since 2001Q4 is accounted for (in a mechanical sense) by the increase in the value of oil imports.
And the dollar share of reserves appears to continue its decline.
Net Exports, Oil Imports, and Implications for GDP
The March trade release was taken as good news. Here’s some reasons to wonder a bit more about how good the news was.
Current Account Balances, Again
Two years ago, as part of a multi-year project, Charles Engel and I organized a conference on current account sustainability in major advanced economies.
Lask week, we convened a follow-up conference aimed at updating our knowledge on this subject. Below is the latest read on the U.S. current account to GDP.
Two Questions: What Do Slowing Imports Mean? And Is There a J-Curve?
As the dollar continues to plumb new depths [0], and the economic slowdown continues, I want to discuss two questions about the trade balance that occur to me.
Trade, Exchange Rates and Pass Through
Some thoughts on what to make of the trade and export/import price releases.
Expenditure Switching or Expenditure Reduction Again: How Adjustment Is Occuring
The latest GDP release suggests trade balance adjustment is proceeding. Some of the adjustment is being driven by changes in the dollar’s value. But I think a lot seems to be coming from the reduction in consumption and income growth.