Abstract
The more detailed and disaggregated data now available confirm that 1977 was indeed a year of stagnating industrial production and rising unemployment in the
major world economies with the exception of Japan and the United States. It was the
year of the financial "recovery" not just in Britain, but also in Italy and France. The
contractionary stance of both fiscal and monetary policy in late 1975 and through 1976 had the expected effects on financial variables.
major world economies with the exception of Japan and the United States. It was the
year of the financial "recovery" not just in Britain, but also in Italy and France. The
contractionary stance of both fiscal and monetary policy in late 1975 and through 1976 had the expected effects on financial variables.
Original language | English |
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Pages (from-to) | 1-2 |
Number of pages | 2 |
Journal | Quarterly Economic Commentary |
Volume | 3 |
Issue number | 4 |
Publication status | Published - Apr 1978 |
Keywords
- world economic trends
- global economic output
- GDP growth