Economic Recovery in the United States, Lower Growth in West Germany and Japan. Medium-term Outlook for the World Economy
The West German economy is forecasted to grow by slightly less than 1½ percent per year until 1998; the restrictive stance of both monetary and fiscal policies will depress economic activity not only in 1994 and 1995 but also will tend to reduce the medium-term growth potential. Activity in other European industrialized economies is likely to expand more rapidly (+2½ percent) as fiscal policy in these countries follows a less restrictive course than in Germany. A decline in interest rates and in the exchange rate of the dollar as well as a fiscal policy aimed at reducing the budget deficit in the medium – but not in the short – term should boost the growth rate of the U. S. to 2½ percent per year. In Japan, however, the medium-term growth rate is expected to drop markedly.
Year of publication: |
1994
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Authors: | Schulmeister, Stephan |
Published in: |
WIFO Monatsberichte (monthly reports). - Österreichisches Institut für Wirtschaftsforschung (WIFO), ISSN 0029-9898. - Vol. 67.1994, 3, p. 147-162
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Publisher: |
Österreichisches Institut für Wirtschaftsforschung (WIFO) |
Subject: | Belebung in den USA | Abschwächung in Westdeutschland und Japan. Mittelfristprognose der Weltwirtschaft bis 1998 | Economic Recovery in the United States | Lower Growth in West Germany and Japan. Medium-term Outlook for the World Economy |
Description of contents: | Abstract [wifo.ac.at] |
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