Most analysis of NAFTA begins by citing the huge increase in bilateral trade between the U.S., Canada and Mexico since 1993. U.S.-Mexico trade—exports plus imports—has grown three and a half times faster than U.S. GDP since NAFTA began in 1994. If NAFTA were solely responsible for that trade, renegotiating it on more favorable terms might have big payoffs. However, there are seven problems with thinking NAFTA has mattered or can matter very much.
A universally agreed-upon definition of the U.S.-Mexico border region is elusive, to say the least. The boundaries vary widely depending on the government entity or academic institution involved. This brief reviews the many officially sanctioned definitions of the region, and explains why a consensus is necessary for effective border management.
The high-growth, high-tech sector appears poised to dramatically grow. U.S. policy to support this sector could enhance and hasten its rise, or could destroy a new American dream.
To harness the power of the market for ideas, the federal government must fund the U.S. patent office to 21st century levels and enhance the rights of patent owners.
The winner’s curse — overestimating the value of an asset and therefore overpaying — is often associated with acquisitions of publicly-traded firms but not with private acquisitions. Using an event study methodology for over 22,000 private acquisitions of U.S. firms between 1985 and 2015, the authors examine a possible winner’s curse for such acquisitions, testing variables to determine what characteristics make a private company more likely to overestimate the asset's value.
The authors of this brief assert that amid mounting allegations of abuse of power at the U.S.-Mexico border, Customs and Border Protection (CBP) needs to incorporate measures to improve transparency and accountability, particularly in the matter of redressing complaints.
Mexico Center director Tony Payan outlines overarching principles and specific policy proposals that, with the necessary political will, can productively address complex immigration issues.
The federal government will need a nuanced approach to properly stimulate small business growth. However, a core
focus should be on creating a level playing field for community banks to compete to provide small business loans.