tailieunhanh - Economics, the Enterprise System, and Finance

Domestic demand continues to be held back by the legacy of the crisis of 2008-09 as households, banks and sovereigns are simultaneously reducing their leverage. At the same time, resources in countries that ran large current- account deficits before the crisis need to be reallocated from the production of goods and services for domestic consumption towards tradables. As this adjustment is progressing, an improvement of deficit countries' economic performance is expected to lead to some growth convergence towards the end of the forecast horizon. . | Economics the Enterprise System and Finance February 2002 The University of the State of New York The State Education Department Albany NY 12234 THE UNIVERSITY OF THE STATE OF NEW YORK Regents of The University Carl T. Hayden Chancellor . . Elmira Adelaide L. Sanford Vice Chancellor . . . Hollis DIANE O Neill McGivern . . . Staten Island Saul B. Cohen . . . New Rochelle James c. Dawson . . . . Peru Robert M. Bennett . . Tonawanda Robert M. Johnson . . Huntington Anthony S. Bottar . . North Syracuse Merryl H. Tisch . . New York ENA L. Farley . . . Brockport Geraldine D. Chapey . . . Belle Harbor Arnold B. Gardner . . Buffalo Charlotte K. Frank . . . New York Harry Phillips 3rd . . . Hartsdale Joseph E. Bowman Jr. . . . . . Albany Lorraine A. Cortés-Vázquez . . Bronx President of The University and Commissioner of Education Richard P. Mills Chief Operating Officer Richard H. Cate Deputy Commissioner for Elementary Middle Secondary and Continuing Education James a. Kadamus Assistant Commissioner for Curriculum Instruction and Assessment Roseanne DeFabio Assistant Director for Curriculum and Instruction Anne Schiano The State Education Department does not discriminate on the basis of age color religion creed disability marital status veteran status national origin race gender genetic predisposition or carrier status or sexual orientation in its educational programs services and activities. Portions of this publication can be made available in a variety of formats including braille large print or audio tape upon request. inquiries concerning this policy of nondiscrimination should be directed to the Department s Office for Diversity Ethics and Access Room 530 Education Building Albany NY 12234. ii Foreword T. . his core curriculum for economics the enterprise system and finance supports the State Education