This paper analyzes representatives' voting patterns on NAFTA. The public choice model posits that representatives vote to redistribute wealth to constituents. Evidence presented here indicates that the Heckscher-Ohlin model is appropriate to represent the redistributional effects of NAFTA....

Trade imbalances between Japan and the U.S. could cause the yen to appreciate against the dollar. Evidence presented here indicates that this could increase the U.S. trade deficit with Japan. An appreciation of the yen against the dollar would also cause the yen to appreciate against the RMB and...

Boudoukh, Richardson, and Whitelaw (BRW) presented theoretical and empirical evidence explaining the expected inflation/stock return correlation. In concluding they stated that whether monetary policy has real effects is an open question. This paper addresses this question by examining how BRW's...

News of enormous trade deficits began affecting asset prices in the mid-1980s. Some have suggested that trade deficit news contributed to the October 1987 stock market crash. This argument would be more compelling if the trade deficit were a source of systematic risk to asset prices, since then...

Alliance Capitalism for the New American Economy advocates engagement with the USA's macromanagement problems in a spirit of alliance capitalism, for the development of a more integrated, dynamic economy. Whereas most studies of the USA emphasise the efficiency effects of intense competition...

There has been an explosion of parts and components traded within East Asian production networks. China has emerged as the final assembly point for the goods produced. These goods then flow primarily outside of the region. When the Global Financial Crisis (GFC) occurred, the decrease in Western...

The authors address questions in current business and policy literature regarding the structural linkages evolving in the globalization process. The authors conclude that the US administration and American firms have to be more responsive to the interests of the international community that are...

Japan is the leading supplier of sophisticated capital goods to East Asian countries. These goods embody advanced technologies and facilitate learning and productivity growth. Capital goods also represent 30%-40% of Japan's exports. This paper investigates the determinants of these exports....

China runs surpluses of $400 billion-$500 billion in processing trade. In value-added terms, East Asia as a whole runs surpluses in processing trade with the West. This generates appreciation pressures on exchange rates throughout the region. Using data up to 2012, this paper reports that a...