As The Implosion Begins...? Prospects and Policies for the U.S. Economy: A Strategic View

Wynne Godley and Alex Izurieta

Economics Strategic Analysis Archive from Levy Economics Institute

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.

Date: 2001-07
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