Abstract
The subtitle indicates three major problems confronting the world economy that I address in this paper. The first is global imbalances, the persistent and large US budget and trade deficits (more precisely, current account deficits) and the equally persistent German and Japanese trade surpluses.KeywordsExchange RateInterest RateCentral BankFederal ReservePurchase Power ParityThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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