realignment of world growth rates -- with Japan and Europe growing faster, and the U.S. growing more slowly -- is likely to solve … a percentage point of GDP. Taken together, these results indicate that a realignment of global growth -- with Japan and …

By 1981, Japan achieved both internal and external equilibrium; exports and imports roughly balanced at sixteen percent …

Bundesbank and the Bank of Japan each focus on one money target, described by the Bundesbank as a target, and by the Bank of … Japan as a projection. None of the countries has stuck rigorously to the targets, though the Bank of Japan has come close …Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and …

; rather than the supply of liquidity by a national central bank alone; by making real interest rates dependent on the global …