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05-10-2000

Clarkson Economics Professor Warns That Trade Deficits Might Trigger Collapse Of Nation's Economic Growth

[A JPEG image of Atesoglu is available at http://www.clarkson.edu/news/photos/atesoglu.jpg]

Potsdam, N.Y. -- A Clarkson University School of Business professor says that the United States’ trade deficits could lead to a slow down or collapse of economic growth. Economics Professor Sonmez Atesoglu (SONE-mez Ah-TESH-a-loo) recently presented his views in seminars at Trinity College and Wesleyan University.Sonmez Atesoglu

While at Trinity College, Atesoglu lectured at a senior seminar on the effects of balance of payments deficits on economic growth. He explained how international trade deficits could lead to slower economic growth of a nation. Atesoglu warned that the reoccurring balance-of-payments deficits of the United States in recent years might trigger the collapse of the economic growth of America.

At Wesleyan University, Atesoglu presented an aggregate model of the United States economy at an Economics Department seminar for faculty members.   The model, although simple, provides an accurate and coherent explanation of important variables like employment, gross national product, inflation and the money supply in the United States.  Atesoglu’s model emphasizes the role of demand forces in the economy in contrast to traditional textbook models, which concentrate on supply side factors. 

Atesoglu teaches money and banking, econometrics and international economics at Clarkson’s School of Business. He served as an economist at the International Monetary Fund before joining Clarkson. He was also a Fulbright Research Professor in Germany and holds a Ph.D. in economics from the University of Pittsburgh.

Clarkson University is an independent institution located in northern New York, in the foothills of the Adirondack Mountains. The University has 2,902 graduate and undergraduate students enrolled in its schools of Business, Engineering, Liberal Arts and Science.

Photo caption: Clarkson University Professor Sonmez Atesoglu tours the Trinity College campus with Professor Mark Setterfield of Trinity College.

[News directors and editors: For more information, contact Michael P. Griffin, director of News & Digital Content Services, at 315-268-6716 or mgriffin@clarkson.edu.]

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