English, Article edition: Financial Crisis Causes Prolonged Global Economic Downturn. Medium-term Forecast of the World Economy until 2013 Stephan Schulmeister

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Financial Crisis Causes Prolonged Global Economic Downturn. Medium-term Forecast of the World Economy until 2013
Author
  • Stephan Schulmeister
Physical Description
  • article
Notes
  • The forecast is based on the following assumptions about the evolution of important variables until 2013: As a consequence of the depreciation of their financial wealth and real property the savings ratio of the US households will increase from 2 percent in 2008 to 6 percent in 2013. The key interest rates of the euro and the US dollar will be roughly 1 percent and will thus be kept at an extremely low level. The exchange rate of the euro will decline to 1.18 $ by 2013. The oil price will recover and rise to 73 $ per barrel by 2013. The decline of share and house prices will come to a halt in the course of 2009.
  • Weltwirtschaft Finanzkrise USA Japan Deutschland Mittelfristige Prognose
  • RePEc:wfo:monber:y:2009:i:1:p:37-48
Language
  • English
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