Recession springs from excess, not from 'shocks.'

Article Abstract:

It is misguided to state that recessions are caused only by external shocks. In the case of the recession that is currently emerging, it can be argued that it had its origins in developments prior to the terrorist attacks on the World Trade Centre and the Pentagon. Policymakers must recognize that recessions can arise even in the absence of inflation.

Administration of General Economic Programs, Intnl Economic Policy, International economic relations, Recessions

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How Japan and Germany lost their glass slippers

Article Abstract:

Japan and Germany once enjoyed very strong economies, but have now experienced a significant slump. They have both been hit by a drop in consumer spending, and in both cases looser fiscal policy has not affected consumer behaviour.

Japan, Germany, Production & Business Activity

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How it all went wrong for bullish global economy

Article Abstract:

The global economy in mid 2001 is examined in detail. Recession experienced by corporations is threatening to reach the general economy. GDP growth forecasts for the US, Japan and Germany have been reduced.

Gross Domestic Product, Statistics, Industrialized countries, Economic forecasting, Economic indicators, Industrial nations

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