The granting of offsets to promote exports of major aircraft systems has been a source of significant controversy. Critics believe that offsets undermine the US manufacturing base; lead to the transfer of commercial technology, possibly affecting national security; and result in the loss of high-wage jobs. Defenders of the practice argue that offsets are a fact of commercial life and can result in net US job gains. In an effort to focus the offsets debate on analytical issues, the White House National Economic Council asked the National Research Council to convene expert academicians, representatives from the aerospace industry, and top government officials to discuss the impact of offsets on the US economy. To ensure a rigorous discussion encompassing all points of view, the conference included a series of papers outlining the positions of key participants. This resulting volume offers a comprehensive and up-to-date analysis of the impact of aerospace offsets.