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Structure

In: A New Balance of Payments for the United States, 1790–1919

Author

Listed:
  • Lawrence H. Officer

    (University of Illinois at Chicago)

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.

Suggested Citation

  • Lawrence H. Officer, 2021. "Structure," Palgrave Studies in American Economic History, in: A New Balance of Payments for the United States, 1790–1919, chapter 0, pages 335-359, Palgrave Macmillan.
    • Handle: RePEc:pal:psichp:978-3-030-66099-4_19
    DOI: 10.1007/978-3-030-66099-4_19
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