IDEAS home Printed from https://ideas.repec.org/a/psl/bnlaqr/199913.html
   My bibliography  Save this article

Whither the US economy?

Author

Listed:
  • U. SACCHETTI

Abstract

The economic performance of the US is viewed by the majority of professional analysts as being superior to that of other major industrialised countries. Some refer to the recent US experience as the “New Paradigm†, characterized by sustained economic growth, low inflation, low unemployment and low interest rates. The present work, however, highlights indications of a likely future performance which may well be less positive than the one portrayed by this ‘New Paradigm’. The author describes four underlying trends that show that the past economic performance in the US was largely the result of abnormal factors, and that they cannot be sustained. Furthermore, the US may in fact enter into a period of significant recession or stagflation in the future.

Suggested Citation

  • U. Sacchetti, 1999. "Whither the US economy?," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 52(208), pages 69-94.
    • Handle: RePEc:psl:bnlaqr:1999:13
    as

    Download full text from publisher

    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10622/10506
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Francesca Eugeni, 1993. "Consumer debt and home equity borrowing," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 17(Mar), pages 2-13.
    2. Mr. James M. Boughton, 1997. "Modeling the World Economic Outlook At the IMF: A Historical Review," IMF Working Papers 1997/048, International Monetary Fund.
    3. Donald P. Morgan & Ian Toll, 1997. "Bad debt rising," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 3(Mar).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Paolo Sylos Labini, 2003. "Prospects for the world economy," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 56(226), pages 179-206.
    2. Paolo Sylos Labini, 2009. "Prospects for the world economy," PSL Quarterly Review, Economia civile, vol. 62(248-251), pages 59-86.
    3. Ugo Sacchetti, 2005. "The US economy: an update," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 3-20.
    4. Ugo Sacchetti, 2005. "The US economy: an update," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 3-20.
    5. Paolo Sylos Labini, 2003. "Le prospettive dell'economia mondiale," Moneta e Credito, Economia civile, vol. 56(223), pages 267-294.
    6. Paolo Sylos Labini, 2003. "Prospects for the world economy," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 56(226), pages 179-206.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. U. Sacchetti, 1999. "Whither the US economy?," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 52(208), pages 69-94.
    2. Bonatti, Luigi, 2002. "The effects of wage compression on unemployment and on the intersectoral distribution of employment: a dynamic model," Economic Systems, Elsevier, vol. 26(2), pages 127-144, June.
    3. Low, Patrick & Olarreaga, Marcelo & Suarez, Javier, 1998. "Does globalization cause a higher concentration of international trade and investment flows?," WTO Staff Working Papers ERAD-98-08, World Trade Organization (WTO), Economic Research and Statistics Division.
    4. Donald Morgan & Kevin Stiroh, 2001. "Market Discipline of Banks: The Asset Test," Journal of Financial Services Research, Springer;Western Finance Association, vol. 20(2), pages 195-208, October.
    5. El-Shagi, Makram & Schweinitz, Gregor von, 2018. "The joint dynamics of sovereign ratings and government bond yields," Journal of Banking & Finance, Elsevier, vol. 97(C), pages 198-218.
    6. Lastunen, Jesse & Richiardi, Matteo, 2023. "Forecasting recovery from COVID-19 using financial data: An application to Vietnam," World Development Perspectives, Elsevier, vol. 30(C).
    7. Duguay, Pierre & Longworth, David, 1998. "Macroeconomic models and policy making at the bank of canada," Economic Modelling, Elsevier, vol. 15(3), pages 357-375, July.
    8. Breeden, Joseph L., 2007. "Modeling data with multiple time dimensions," Computational Statistics & Data Analysis, Elsevier, vol. 51(9), pages 4761-4785, May.
    9. Astrid A. Dick & Andreas Lehnert, 2010. "Personal Bankruptcy and Credit Market Competition," Journal of Finance, American Finance Association, vol. 65(2), pages 655-686, April.
    10. Lucia Dunn & TaeHyung Kim, 1999. "Empirical Investigation of Credit Card Default," Working Papers 99-13, Ohio State University, Department of Economics.
    11. Syed Shah ALAM & Ruzita Abdul RAHIM & Ridhwanul HAQ & Atiqur Rahman KHAN, 2014. "What Influence Credit Card Debts In Young Consumers In Malaysia," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 6(6), pages 106-116, December.
    12. Donald P. Morgan & Kevin J. Stiroh, 1999. "Bond market discipline of banks: is the market tough enough?," Staff Reports 95, Federal Reserve Bank of New York.
    13. Elena Ianchovichina & Terrie Walmsley, 2005. "Impact of China's WTO Accession on East Asia," Contemporary Economic Policy, Western Economic Association International, vol. 23(2), pages 261-277, April.
    14. Teresa Leal & Javier J. Pérez & Mika Tujula & Jean-Pierre Vidal, 2008. "Fiscal Forecasting: Lessons from the Literature and Challenges," Fiscal Studies, Institute for Fiscal Studies, vol. 29(3), pages 347-386, September.
    15. Engen, Eric M. & Gale, William G., 1996. "Tax-Preferred Assets and Debt, and the Tax Reform Act of 1986: Some Implications for Fundamental Tax Reform," National Tax Journal, National Tax Association;National Tax Journal, vol. 49(3), pages 331-339, September.
    16. Carroll, Christopher D. & Samwick, Andrew A., 1997. "The nature of precautionary wealth," Journal of Monetary Economics, Elsevier, vol. 40(1), pages 41-71, September.
    17. den Butter, Frank A. G. & Morgan, Mary S., 1998. "What makes the models-policy interaction successful?," Economic Modelling, Elsevier, vol. 15(3), pages 443-475, July.
    18. Markus Christen & Ruskin Morgan, 2005. "Keeping Up With the Joneses: Analyzing the Effect of Income Inequality on Consumer Borrowing," Quantitative Marketing and Economics (QME), Springer, vol. 3(2), pages 145-173, June.
    19. Sandra E. Black & Donald P. Morgan, 1999. "Meet the new borrowers," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 5(Feb).
    20. Rinaldi, Laura & Sanchis-Arellano, Alicia, 2006. "Household debt sustainability: what explains household non-performing loans? An empirical analysis," Working Paper Series 570, European Central Bank.

    More about this item

    Keywords

    United States economic conditions;

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:psl:bnlaqr:1999:13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carlo D'Ippoliti (email available below). General contact details of provider: http://www.economiacivile.it .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.