Currency wars and the paradox of global thrift
AbstractThe majority of G20 countries have collectively pursued easy-money-tighter-fiscal policy to stimulate their economies, but this has led to weak currencies. To stimulate growth and avoid a currency war, G20 governments and central banks should reform tax systems and moderate the growth of government retirement and health benefits while employing quantitative easing as needed to avoid deflation.
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Bibliographic InfoPaper provided by American Enterprise Institute in its series Working Papers with number 36978.
Date of creation: Feb 2013
Date of revision:
Japanese economy; G20 summit; Fiscal austerity; economic outlook ; currency; central banks; FOMC; QE;
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-08-31 (All new papers)
- NEP-MAC-2013-08-31 (Macroeconomics)
- NEP-MON-2013-08-31 (Monetary Economics)
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