Short-term, or Cyclical, Disequilibria

M. Panić
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M. Panić: Selwyn College

Chapter 4 in National Management of the International Economy, 1988, pp 73-84 from Palgrave Macmillan

Abstract: Abstract The previous chapter described a number of important conditions that had to be satisfied if an internationally integrated economy was to enjoy long-term, or fundamental, equilibrium. This does not mean, of course, that such an economy will never experience temporary disequilibria. In fact, there are good cyclical reasons why it may be unable to reconcile internal and external balances in the short run. Some of the most important cases of this kind, together with the policy responses needed to correct them, are described briefly in this chapter.

Keywords: Excess Demand; Full Employment; External Balance; External Imbalance; International Transmission (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07129-6_4

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DOI: 10.1007/978-1-349-07129-6_4

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