This study documents evidence of a decline trend in the international competitiveness of US industry. The analysis identifies three groups of countries that acc

The global financial crisis of 1997-98 and the widening US trade deficit have precipitated fresh inquiry into a set of perennial questions about global integrat

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many

This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel

This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budge