Scholarlink

Do deficits matter? This issue was widely debated in the mid-1980s, when the United States ran large budget and current account deficits (see Fig. 5.1). During the early years of the Reagan Administration, investors pretty much ignored the deterioration in the fiscal and external accounts. Most were encouraged that the Federal Reserve was committed to reducing inflation, and they were comforted that the political pendulum was swinging toward market-oriented policies. When Japan displaced OPEC as the world’s largest capital exporter, the United States was able to attract capital inflows from abroad on favorable terms.

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Policy Coordination Gives Way to Conflict and Turmoil

  • 章节

  • 发表日期：

    2026年

查看全文
  • Nicholas P. Sargen

摘要

Do deficits matter? This issue was widely debated in the mid-1980s, when the United States ran large budget and current account deficits (see Fig. 5.1). During the early years of the Reagan Administration, investors pretty much ignored the deterioration in the fiscal and external accounts. Most were encouraged that the Federal Reserve was committed to reducing inflation, and they were comforted that the political pendulum was swinging toward market-oriented policies. When Japan displaced OPEC as the world’s largest capital exporter, the United States was able to attract capital inflows from abroad on favorable terms.