Henry N. Goldstein

PLC 532; 541-346-4670; henryg@uoregon.edu

Biographical Information

Henry N. Goldstein, Professor emeritus, received his B.A. in Economics in 1950 from North Carolina at Chapel Hill, and his M.S in 1953 and Ph.D in 1967 in Political Economy from Johns Hopkins. He joined the UO faculty in 1967.

Research Interests

Henry Goldstein has written on the ways in which different exchange-rate systems influence the effectiveness of monetary and fiscal policy; on alternative procedures for marketing the Government's new issues of bills, notes and bonds (the securities which comprise the national debt); on whether the recent extended sequence of U.S. budget deficits and current account deficits (our "twin deficits") are as serious a cause for concern as many have suggested; on the recent growing divergence between gross and net rates of national saving and investment, and on how this recent widening should be evaluated; and on the considerations underlying the behavior of the OPEC cartel. Some of Professor Goldstein's current research focuses on the balance-of-trade responses to exchange rate changes induced by monetary policy. His analysis suggests that an activist policy by the Federal Reserve makes sense when the dollar is a floating currency because lower U.S. interest rates (for example) lead to a cheaper dollar which leads almost immediately to a significant change in the flow of new orders for U.S. exports and import-competing goods and services. He argues that this changed flow of new orders affects output and employment more quickly than it affects the recorded trade balance.

Teaching

Professor Goldstein taught international economics and money and banking.

Selected Papers

"Should We Fret About Our Low Net National Saving Rate?," Cato Journal, Winter 1990.
"A Critical Appraisal of McKinnon's World Money Supply Hypothesis," American Economic Review, March 1984, with S. Haynes.

"The World Oil Crisis: A Portfolio Interpretation Reexamined," Economic Inquiry, 1977.

"Rules for a Floating Rate Regime," Princeton Essays in International Finance, 1975, with R. Mikesell.

"Further Thoughts on Official Support of the Forward Exchange Rate," Quarterly Journal of Economics, August 1966.

"Should the Treasury Auction Long-Term Securities?" Journal of Finance, 1962.

© 2001 UO Department of Economics. All rights reserved.