An Introduction to the International Implications of U.S. Fiscal Policy
挑战了美国财政政策（特别是联邦预算赤字）与利率、汇率及贸易平衡之间存在简单直接因果关系的普遍观点，认为财政政策可能导致但不必然导致贸易赤字。
A challenge to the commonly held belief that aggregate U.S. fiscal policy measures, especially the federal budget deficit, bear a simple and direct causal relationship with U.S. interest rates, exchange rates, and the trade balance, concluding that fiscal policies can--but need not--cause trade deficits.