Financial Market Puzzles May Affect World Growth

Philip Arestis and Elias Karakitsos

Challenge, 2005, vol. 48, issue 6, pages 95-113

Abstract: The three puzzles these authors address suggest that managing the world economy may become more difficult in the coming year. Low bond yields, the good performance of euro stocks, and the broadening of retail investors into nontraditional assets have raised more questions than answers. These economists propose practical explanations, but if they are right, a slowdown in the U.S. and world economy down the road may be unavoidable.

Date: 2005

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