Structural Changes of the U.S. Economy: Implications for the U.S. Mid- to Long-Term Growth Path and the Korean Econom

Abstract

The outcome of the recent U.S presidential election came as a surprise to the world econ-omy. President Trump has tried to set his own policy agenda, including a trade policy based on protectionism. These actions are leading to great changes in world economic conditions, including trade conditions. Beyond the chang-es in U.S. policy agenda, the U.S. economy is also undergoing long-term structural changes such as aging. Under these circumstances, a natural question arises: How are we to follow the U.S.'s medium- and long-term growth? The purpose of this study is to present an analysis of long-term structural changes in the U.S. economy and to examine their implica-tions on U.S. economic recovery after the fi-nancial crisis and mid- to long-term growth in Korea.