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The world economy [May 1987]

Ashcroft, Brian and Walker, Jim and Boyle, Stephen and Draper, Paul and Harrigan, Frank and Heeley, John and Jenkins, Iain and Lockyer, Cliff and Love, Jim H and McGregor, Peter and McNicolI, Iain and Perman, Roger and Simpson, David and Stevens, Jim (1987) The world economy [May 1987]. Quarterly Economic Commentary, 12 (4). pp. 4-7. ISSN 2046-5378

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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.