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As The Implosion Begins . . .? Prospects and Policies for the U.S. Economy: A Strategic View

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  • Wynne Godley
  • Alex Izurieta
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    Abstract

    The U.S. economy is probably now in recession, and a prolonged period of subnormal growth and rising unemployment is likely unless there is another round of policy changes. A further relaxation of fiscal policy will probably be needed, but if a satisfactory rate of growth is to be sustained, this will have to be complemented by measures that raise U.S. exports relative to imports.

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    File URL: http://www.levyinstitute.org/pubs/implos.pdf
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    Bibliographic Info

    Paper provided by Levy Economics Institute in its series Economics Strategic Analysis Archive with number 01-7.

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    Date of creation: Jul 2001
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    Handle: RePEc:lev:levysa:01-7

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    Web page: http://www.levyinstitute.org

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Annamaria Lusardi & Jonathan Skinner & Steven F. Venti, 2001. "Saving Puzzles and Saving Policies in the United States," JCPR Working Papers 220, Northwestern University/University of Chicago Joint Center for Poverty Research.
    2. Wynne Godley & L. Randall Wray, . "Can Goldilocks Survive?," Economics Policy Note Archive 99-4, Levy Economics Institute.
    3. Richard Peach & Charles Steindel, 2000. "A nation of spendthrifts? An analysis of trends in personal and gross saving," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 6(Sep).
    4. Dimitri B. Papadimitriou & L. Randall Wray, . "Fiscal Policy For the Coming Recession: Large Tax Cuts are Needed to Prevent a Hard Landing," Economics Policy Note Archive 01-2, Levy Economics Institute.
    5. David Alan Aschauer, . "How Should the Surpluses Be Spent?," Economics Policy Note Archive 98-2, Levy Economics Institute.
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    Cited by:
    1. Paolo Sylos Labini, 2009. "Prospects for the world economy," PSL Quarterly Review, Economia civile, vol. 62(248-251), pages 59-86.
    2. Joerg Bibow, 2004. "Fiscal Consolidation Contrasting Strategies & Lessons from International Experience," Macroeconomics 0402014, EconWPA.
    3. Salomón Kalmanovitz, . "El Banco de la República y el Régimen de Meta de Inflación," Borradores de Economia 193, Banco de la Republica de Colombia.
    4. Anwar Shaikh & Dimitri B. Papadimitriou & Claudio H. dos Santos & Gennaro Zezza, 2003. "Deficits, Debts and Growth: A Reprieve but not a Pardon," Economics Strategic Analysis Archive 03-10, Levy Economics Institute.

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