New US paradigm is really just an old bugbear
Article Abstract:
It is particularly interesting to look at the macro-economic aspects of the new economic paradigm which is being used in the US to explain low inflation and high equity and bond prices. These aspects rest on the view that underlying productivity growth has been accelerated by significant changes in information technology. This has increased the potential output of the services sector, although official GDP figures have not taken this change into account. The macro-economics of the paradigm also claim that wage inflation has been restricted by the development of a new global labour market.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Is the Asean growth miracle hitting the rocks?
Article Abstract:
Four countries from the Association of South East Asian Nations (Asean) have been affected by a currency crisis with wider economic implications. These countries, Thailand, Indonesia, Philippines and Malaysia, suffered slower export activity in 1996 and have had to raise interest rates to protet their currencies. Asset prices had risen in 1996 due to capital inflows, and a collapse in equity prices in 1997 showed that domestic imbalances had developed. A number of measures are needed such as restoring confidence in currencies and dealing with current account imbalances.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Five employment killers in or out of EMU
Article Abstract:
It is still too soon to be able to state with any certainty whether flexible labour market policies in the UK and the US have been responsible for keeping unemployment low in these countries compared with continental Europe. It appears that the most significant factor in restricting unemployment is demand management, as operated by the Bank of England and the Federal Reserve. Labour market flexibility certainly has some impact on unemployment, but it is wrong to assume that it has an entirely positive effect.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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