About
Introduction
Growth
Behavior
Consumption
Investment
Open Economy
Money & Prices
Fluctuations
Policy
Assignments
Links
No nation was ever ruined by trade.
— Benjamin Franklin
Economics 302: Macroeconomic Analysis
Open Economy
Background:
Blanchard, ch. 18 (pp. 374–386); ch. 19 (pp. 405–406, 408–413, 415–416).
"Food for Thought,"
The Economist
, May 27, 2004.
Analysis:
"The Real Picture,"
The Economist
, February 17, 2005.
[PDF version]
Wessel, David.
"Imports Help Consumers — If Not Politicos,"
Wall Street Journal
, March 25, 2004
Varian, Hal R.
"Exchange Rates and the Economy,"
New York Times
, June 3, 2004
In The News:
Norris, Floyd.
"Foreigners May Not Have Liked the War, but They Financed It,"
New York Times
, September 12, 2003.
Wolf, Martin.
"A Very Dangerous Game,"
Financial Times
, September 30, 2003.
Uchitelle, Louis.
"U.S. and Trade Partners Maintain Unhealthy Long-Term Relationship"
New York Times
, September 18, 2004.
Going Further:
Hervey, Jack L. and Loula Merkel.
"A Record Current Account Deficit: Causes and Implications,"
Federal Reserve Bank of Chicago
Economic Perspectives
, v. 24, Q4 2002, pp. 2–13.
Mann, Catherine L.
"Perspectives on the U.S. Current Account Deficit and Sustainability,"
Journal of Economic Perspectives
, vol. 16, no. 3 (Summer 2002), pp. 131–152.
Kamin, Steven B.
"U.S. International Transactions in 2002,"
Federal Reserve Bulletin
, May 2003.
"All About The Foreign Exchange Market in the United States,"
Federal Reserve Bank of New York, 1998.
Trade, Jobs & Outsourcing:
Wolf, Martin.
"Trade is Not Bad for US Jobs,"
Financial Times
, February 24, 2004.
Varian, Hal R.
"What Goes Abroad Usually Comes Back, With Benefits,"
New York Times
, March 11, 2004.
Madrick, Jeff.
"Questioning Free Trade Mathematics,"
New York Times
, March 18, 2004.