The world economy [February 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 (1987) The world economy [February 1987]. Quarterly Economic Commentary, 12 (3). pp. 4-9. ISSN 2046-5378

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Abstract

Further marginal improvements in output growth, unemployment and the rate of inflation have been recorded as the benefits of lower oil prices and reduced inflationary expectations worked their way through the world economy. However, the continuing current account imbalances between the US, Japan and West Germany, and the failure of the principals to reach an agreement on the best way of dealing with them, constitute the main threat to trade stability and future economic growth.

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