Keith E. Maskus is Professor of Economics at the University of Colorado, Boulder, and author of The Changing Structure of Comparative Advantage in American Manufacturing, coauthor of International Trade: Theory and Evidence, and coeditor of The Economics and Politics of World Sugar Policies. Peter M. Hooper is Assistant Director, Division of International Finance, Board of Governors of the Federal Reserve System. He is coauthor of The Emergence and Persistence of the U.S. External Imbalance, 1980—87 and coeditor of External Deficits and the Dollar: The Pit and the Pendulum and International Economic Transactions: Issues in Measurement and Empirical Research. Edward E. Leamer is Professor of Economics, University of Michigan, and author of The Heckscher-Ohlin Model in Theory and Practice and Sturdy Econometrics. J. David Richardson is Professor of Economics, Syracuse University, and author of Understanding International Economics: Theory and Practice, coauthor of Why Exports Really Matter, and coeditor of International Trade and Finance: Readings and Real-Financial Linkages among Open Economies.

Keith E. Maskus is Professor of Economics at the University of Colorado, Boulder, and author of The Changing Structure of Comparative Advantage in American Manufacturing, coauthor of International Trade: Theory and Evidence, and coeditor of The Economics and Politics of World Sugar Policies. Peter M. Hooper is Assistant Director, Division of International Finance, Board of Governors of the Federal Reserve System. He is coauthor of The Emergence and Persistence of the U.S. External Imbalance, 1980—87 and coeditor of External Deficits and the Dollar: The Pit and the Pendulum and International Economic Transactions: Issues in Measurement and Empirical Research. Edward E. Leamer is Professor of Economics, University of Michigan, and author of The Heckscher-Ohlin Model in Theory and Practice and Sturdy Econometrics. J. David Richardson is Professor of Economics, Syracuse University, and author of Understanding International Economics: Theory and Practice, coauthor of Why Exports Really Matter, and coeditor of International Trade and Finance: Readings and Real-Financial Linkages among Open Economies.

Keith E. Maskus is Professor of Economics at the University of Colorado, Boulder, and author of The Changing Structure of Comparative Advantage in American Manufacturing, coauthor of International Trade: Theory and Evidence, and coeditor of The Economics and Politics of World Sugar Policies. Peter M. Hooper is Assistant Director, Division of International Finance, Board of Governors of the Federal Reserve System. He is coauthor of The Emergence and Persistence of the U.S. External Imbalance, 1980—87 and coeditor of External Deficits and the Dollar: The Pit and the Pendulum and International Economic Transactions: Issues in Measurement and Empirical Research. Edward E. Leamer is Professor of Economics, University of Michigan, and author of The Heckscher-Ohlin Model in Theory and Practice and Sturdy Econometrics. J. David Richardson is Professor of Economics, Syracuse University, and author of Understanding International Economics: Theory and Practice, coauthor of Why Exports Really Matter, and coeditor of International Trade and Finance: Readings and Real-Financial Linkages among Open Economies.