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THE DOLLAR AND THE WORLD ECONOMY page
THE PRESENT DISEQUILIBRIUM BETWEEN
HOW LONG CAN IT GO ON? page
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adjustment assets assumed assumptions average baseline billion capital inflows chapter coefficient cooperative scenario crisis current account deficit current balance cyclical D&D model debt-GNP ratio depreciation deutsche mark developing countries developing-country disequilibrium dollar-denominated dollar's decline domestic demand domestic savings effects elasticities estimates Europe European Monetary System exchange markets expansionary export prices factors figure financial markets fiscal policies foreign exchange markets foreign savings Germany governments growth rate hard-landing scenario higher impact important income increase inflation intervention investment-savings balance Japan lower macroeconomic major monetary policy NAIRU negative nonoil OECD OECD countries OECD growth percent of GNP percentage change percentage points political position pressure price level projections public debt real interest rates real wage recovery reduced relative rest rise risk ROECD area ROECD GNP sector shift simulation of D&D stabilizers strong structural budget deficit suggest surplus trend unemployment United Kingdom world economy