Theoretical and empirical work on public policy agenda setting has ign
ored foreign policy. We develop a theory of foreign policy agenda sett
ing and test the implications using time-series vector autoregression
and Box-Tiao (1975) impact assessment methods. We theorize an economy
of attention to foreign policy issues driven by issue inertia, events
external to U.S. domestic institutions, as well as systemic attention
to particular issues. We also theorize that the economy of attention i
s affected by a law of scarcity and the rise and fall of events in com
peting issue areas. Using measures of presidential and media attention
to the Soviet Union, Arab-Israeli conflict, and Bosnian conflict, we
show that presidential and media attentions respond to issue inertia a
nd exogenous events in both primary and competing issue areas. Media a
ttention also affects presidential attention but the president does no
t affect issue attention by the media.