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| Author: | |
| Title: | Economic trends 1996/97: slow recovery in the western industrialized countries |
| Journal: | Economic Bulletin
1996 : JUL, VOL. 33:7, p. 3-8 |
| Index terms: | DEVELOPED ECONOMIES ECONOMICS RESEARCH |
| Language: | eng |
| Abstract: | The western industrialised countries appear to have passed the cyclical nadir. In the United States the economy is expanding more rapidly once more following last year's soft landing, and the Japanese economy, too, has recovered perceptibly following the long period of stagnation. In western Europe, on the other hand, the signs of an economic turnaround are as yet weak. A lasting acceleration of growth there is only possible if fiscal policies abandon the efforts to forcibly consolidate public budgets, and monetary policy adopts an even more expansionary stance. |
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