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The sharp decline in U.S. productivity growth in the 1970s has brought about a renewed interest in economic policies to expand aggregate supply. Particular importance has been given to the role played by government intervention in the form of taxes, transfer payments, and regulation. This volume asks just what is known about the effect of government policy on the productive capacity of the nation. It also looks at the role played by capital formation, technological change, and the quality of the work force.
"The Economics of Federal Credit Programs discusses government lending, government guaranty of loans, and credit control in the United States."
"The proposed North American Free Trade Agreement (NAFTA) represents a historic change in relations among Canada, Mexico, and the United States. The effect of the agreement on the three economies has generated controversy and some degree of alarm within each country.In this book, noted trade and development experts review the available literature on the effects of NAFTA on the three member countries and the world trading system. They evaluate how NAFTA will affect areas such as economic growth, employment, income distribution, industry, and agriculture in Canada, Mexico, and the United States; and consider the significance the trade agreement holds for the rest of the world.Drusill K. Brown begins the discussion by providing an overview and comparison of the general results from recent studies. Raúuacute;l Hinojosa-Ojeda and Sherman Robinson explore in greater detail the potential effects of NAFTA on wages and employment in Mexico and the United States. Sidney Wintrab reviews industry-specific effects of NAFTA, in particular, the environment, the social agenda, and human rights and democracy. Finally, Carlos Alberto Primo Braga considers the implications of NAFTA on the rest of the world.Following each of these chapters, international scholars assess the alternatives and provide recommendations for future research."
"The Uruguay Round trade agreement, recently ratified by Congress, was the eighth in a series of negotiations under the auspices of the General Agreement on Tariffs and Trade (GATT). Like the ratification proceddings, the negotiations were both contentious and extended. In the end, they substantially changed the structure of the GATT. From its traditional emphasis on reducing formal barriers to trade in goods, the GATT has now moved to a broader agenda of issues that will dominate in a more integrated world economy.The New GATT encompasses a set of agreements governing trade in goods, trade in services, the protection of intellectual property rights, and new procedures for resolving trade disputes. All of these measures are to be unified under a new institutional structure, the World Trade Organization. In this book, the major features of the new GATT are reviewed and assessed in terms of their implications for the United States.The contributors are Alan Deardorff, University of Michigan; Bernard Hoekman, the World Bank; John Jackson, University of Michigan School of Law; and Tim Josling, Food Research Institute, Stanford University.Susan M. Collins is a senior fellow in the Economic Studies program at Brookings and associate professor of economics at Georgetown University. Barry P. Bosworth, a senior fellow at Brookings, is the editor and author of numerous Brookings books, including The Chilean Economy: Policy Lessons and Challenges (Brookings, 1994) and Saving and Investment in a Global Economy (Brookings, 1993)."
Examines the effects of rising social security costs and of measures adopted to deal with them, and discusses possible ways of coping with the shortfall of available money for the aging American population.
The still chaotic states of the former Soviet Union, a growing China, and the divergent nations of Eastern Europe are striving to radically transform their economies.
The emergence of large trade imbalances among the industrial countries during the 1980s has led to growing disenchantment with the international economic system. In this provocative book by one of America's leading economists, Barry Bosworth argues that disparities are not the result of external infraction, but rather a reflection of domestic failures.
Features a longtime Brookings economist and former presidential adviser who examines why saving rates in the United States have fallen so precipitously over the past quarter century, why the initial consequences were surprisingly benign, and how reduced saving will affect the future well-being of Americans.
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