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I have a question. For the model to work as Mankiw and Hassett describe, won't we have to run larger current account deficits? And since this Administration is committed (supposedly) to balancing the current account, how does this play out? How will they be forced (I think forced is the right word here) to react if after cutting the corporate tax rate, we actually do get more capital from abroad? I guess that's more than one question. :-) [Yep. The corporate tax cut would widen the trade deficit...]
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I agree. Lehman filed. The Fed held a meeting. The rate stayed the same.
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Nov 15, 2016