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Lawrence H. Officer ()
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Lawrence H. Officer: University of Illinois at Chicago

Chapter Chapter 19 in A New Balance of Payments for the United States, 1790–1919, 2021, pp 335-359 from Palgrave Macmillan

Abstract: Abstract The balance-of-payments series together with other data are used to examine openness of the U.S. economy, financial dependence of the United States, and the shift from a goods to a services-oriented economy relative to trading partners. Important are terms-of-trade computations that are inclusive of services as well as goods. For this purpose, constant-dollar goods-and-services items are computed. It is shown that the current-dollar and constant-dollar balances can move divergently.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psichp:978-3-030-66099-4_19

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DOI: 10.1007/978-3-030-66099-4_19

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