John K. Hill examines how the trade balance and the real exchange rate interact after an economic disturbance. Hill explains how, for disturbances likely to have a significant effect on the trade balance, real exchange rate movements are more the result of a shift in the trade balance than the...

In a 1989 article in this Review, John K. Hill argued that the mere aging of the baby boom generation would cause the United States to become a major capital exporter by the end of the century. To reach that conclusion, he assumed that rising U.S. capital outflows could be absorbed by the rest...

John Hill and D'Ann Petersen measure the importance of projected shifts in the size and age distribution of the U.S. population for domestic housing investment. Their analysis runs through the year 2010 and provides separate estimates for single-family and multifamily investment. ; Hill and...