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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

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.

Suggested Citation

  • Wynne Godley & Alex Izurieta, 2001. "As The Implosion Begins . . .? Prospects and Policies for the U.S. Economy: A Strategic View," Economics Strategic Analysis Archive 01-7, Levy Economics Institute.
    • Handle: RePEc:lev:levysa:01-7
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    References listed on IDEAS

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    1. Wynne Godley & L. Randall Wray, "undated". "Can Goldilocks Survive?," Economics Policy Note Archive 99-4, Levy Economics Institute.
    2. Dimitri B. Papadimitriou & L. Randall Wray, "undated". "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.
    3. A Lusardi & J Skinner & S Venti, 2001. "Saving puzzles and saving policies in the United States," Oxford Review of Economic Policy, Oxford University Press, vol. 17(1), pages 95-115, Spring.
    4. David Alan Aschauer, "undated". "How Should the Surpluses Be Spent?," Economics Policy Note Archive 98-2, Levy Economics Institute.
    5. 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).
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    Cited by:

    1. Jorg Bibow, 2004. "Fiscal Consolidation: Contrasting Strategies & Lessons From International Experiences," Economics Working Paper Archive wp_400, Levy Economics Institute.
    2. 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.
    3. Paolo Sylos Labini, 2009. "Prospects for the world economy," PSL Quarterly Review, Economia civile, vol. 62(248-251), pages 59-86.
    4. Salomón Kalmanovitz, 2001. "El Banco De La República Y El Régimen De Meta De Inflación," Borradores de Economia 2460, Banco de la Republica.
    5. Salomón Kalmanovitz, 2001. "El Banco de la República y el Régimen de Meta de Inflación," Borradores de Economia 193, Banco de la Republica de Colombia.

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