@techreport{NBERw0469,
 title = "Trends in U.S. International Trade and Investment since World War II",
 author = "William H. Branson",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "469",
 year = "1981",
 month = "March",
 URL = "http://www.nber.org/papers/w0469",
 abstract = {This paper presents and analyzes the data on the trends in United States international trade and investment since World War II. From this data we can perceive a shrinking United States fraction of manufacturing output and exports, a return to and strengthening of lines of comparative advantage, and balanced and rapid growth in long-term investment. We can also see increasing volatility of trade and long-term investment in the 1970s, along with a real depreciation of 25 percent in the weighted United States exchange rate.},
}