Giavazzi, Francesco - In: Ensayos Económicos 1 (2009) 53-54, pp. 187-189
If we analyze the global macroeconomy in the medium-term, world consumption should tend to decrease vis-à-vis the increase of the US savings rate as a result of the crisis. At the same time, it is hard to imagine that investment will grow if consumption does not recover first. In this context,...