摘要:
The world economic recovery, which began in the late summer of 1980, can now be seen as premature, in as much as 1980's short, sharp recession had achieved only a limited reduction in the rate of inflation. Economic policy, particularly in the United States, is once more geared to a reduction in the inflation rate even if this imposes costs in terms of lost output and higher unemployment. The consequent appreciation of the US dollar against the European currencies has ‐ in spite of weakening oil and non‐oil commodity prices in dollar terms ‐ produced a further boost to European inflation and a subsequent tightening of policy in some countries, notably West Germany. In these circumstances we expect little or no growth in output in the world economy until the summer of
ISSN:0140-489X
DOI:10.1111/j.1468-0319.1981.tb00245.x
出版商:Blackwell Publishing Ltd
年代:1981
数据来源: WILEY