Under current law, the U.S. Department of Defense automatically faces significant spending cuts over the next 10 years—cuts that america's civilian and military leaders have cadidly described as "devastating" and "very high risk."

At a November 4 conference, economists explained what is driving the current account deficit, how much this deficit should concern policymakers, and what can be done to reduce it.

U.S. policymakers would be making a grave mistake by ignoring today's large external current account deficit and by blithely going for economic growth.

If Japan combines a reflationary monetary policy,rapid deregulation, restructuring of its domestic sector and an attendant surge of investment will promote the flow of capital.

Portugal could avoid Greece's horrible fate if it were to draw the right lessons from the Greek experience.

Desmond Lachman's response to Daniel Gros's article, "Portugal is Delaying the Pain it Knows is Inevitable."

It is a mistake to think that the housing market slumpwill permanently improve the U.S. current account deficit.

The last thing countries like Spain, Ireland, Greece, Italy, and Portugal need is a strong currency at a time when they are trying to redress their highly compromised public finances in the midst of severe economic recessions.