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The North American Free Trade Agreement (NAFTA) was bold and
controversial from the start. When first conceived, it was far from
obvious that it would be possible given the circumstances of the
times. Drawing from a December 2013 Hoover Institution conference
on NAFTA at 20, this book brings together distinguished academics
who have studied the effects of NAFTA with high-level policy makers
to present a comprehensive view of the North American Free Trade
Agreement. It looks at the conception, creation, outcomes so far,
and the future of NAFTA from the perspective of economists,
historians, and the aforementioned policy makers in the words of
those who actually participated in the negotiations and research.
In the context of the fundamental economic and political
transformation of North America, they discuss the trade, real wage,
and welfare gains that NAFTA has produced for the United States,
Mexico, and Canada, along with a review of the major energy markets
within and among the three countries. They include lessons from
NAFTA for the future, both for NAFTA itself and for other trade
agreements, and stress the importance of political leadership and
providing information on the benefits of trade liberalization to
voters and potentially ill-informed politicians who hear most
loudly from the opponents.
This collection of essays presents new insights into the analyses
of public debt theory, recent historical episodes, econometric
analyses of public debt and policy dilemmas and options. The
subjects covered include optimal debt policy, the role of deficits
as a temporary stimulus in the course of disinflation, the
intergenerational equity aspects of public debt, public debt
problems in developing countries, indexing public debt for
inflation and various conceptual, accounting and measurement issues
in obtaining accurate information on deficits and public debt as
well as their impact on aggregate economic activity. The studies
document the explosion of public debt, the potential benefits and
costs associated with this explosion and the perceptions of the
debt problems from the viewpoints of various national economies as
well as the world economy. Professor Arrow was awarded the Alfred
Nobel Memorial Prize in Economic Science in 1972.
A collection of essays presenting new insights into the analysis of
public debt theory, recent historical episodes, econometric
analyses and policy dilemmas and options. It also documents the
perceptions of debt problems from viewpoints of national economies
as well as the world economy.
The North American Free Trade Agreement (NAFTA) was bold and
controversial from the start. When first conceived, it was far from
obvious that it would be possible given the circumstances of the
times. Drawing from a December 2013 Hoover Institution conference
on NAFTA at 20, this book brings together distinguished academics
who have studied the effects of NAFTA with high-level policy makers
to present a comprehensive view of the North American Free Trade
Agreement. It looks at the conception, creation, outcomes so far,
and the future of NAFTA from the perspective of economists,
historians, and the aforementioned policy makers in the words of
those who actually participated in the negotiations and research.
In the context of the fundamental economic and political
transformation of North America, they discuss the trade, real wage,
and welfare gains that NAFTA has produced for the United States,
Mexico, and Canada, along with a review of the major energy markets
within and among the three countries. They include lessons from
NAFTA for the future, both for NAFTA itself and for other trade
agreements, and stress the importance of political leadership and
providing information on the benefits of trade liberalization to
voters and potentially ill-informed politicians who hear most
loudly from the opponents.
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