Abstract
Growth appears to be faltering in the world economy due to the deflationary effects of the appreciation of the Yen and D-Mark on the Japanese and West German economies. Continuing trade imbalances and exchange rate instability reflect the absence of effective action to reduce the large US budget deficit and secure a monetary and fiscal policy induced expansion in the surplus countries.
Original language | English |
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Pages (from-to) | 4-7 |
Number of pages | 4 |
Journal | Quarterly Economic Commentary |
Volume | 12 |
Issue number | 4 |
Publication status | Published - 1 May 1987 |
Keywords
- Fraser of Allander
- world economic activity
- world economic condition