Most of the rest of the world lacks a comprehensive, easily understood narrative of positive change similar to Japan’s “Abenomics.” The output gap for the world’s major advanced economies, as calculated by the IMF, remains disappointing, at -3.2% in 2013, which is less than half-way back to normal from 2009, the worst year of the global financial crisis, when the gap was -5.3%. project-syndicate.org/commentary/robert-j--shiller-attributes-japan-s-incipient-recovery---and-weak-growth-elsewhere---to-prevailing-economic-narratives
Posted on: Sun, 23 Mar 2014 18:19:28 +0000