Chapman economics team calls for austerity to boost export growth

Professor Vernon Smith

In an opinion piece in the
Financial Times’
Economists’ Forum
, Chapman University professor and Nobel Laureate Vernon Smith, Ph.D., and fellow Chapman University scholars, outline issues with the U.S. fiscal stimulus, contending that it led to increased imports and suppressed export growth. The article, titled
“US fiscal stimulus disproportionately increased imports and trade deficit; expect the reverse with austerity,”
was co-authored by graduate scholar Joy A. Buchanan, and Steven Gjerstad, Ph.D., Presidential Fellow professor.

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