11 INTERNATIONAL ASPECTS OF A RECESSION

Chapters in this book

1. Frontmatter i
2. CONTENTS v
3. EDITORS’ ACKNOWLEDGMENTS AND A NOTE ON THE TEXTS vii
4. ALBERT O. HIRSCHMAN AT THE FEDERAL RESERVE, 1946–1952 1
5. I. PATTERNS OF EUROPEAN RECONSTRUCTION: MACROECONOMIC CHALLENGES
6. 1 HIGHER INTEREST RATES AND THE CREDIT SHORTAGE IN FRANCE 47
7. 2 EXCHANGE CONTROL IN ITALY—I 53
8. 3 EXCHANGE CONTROL IN ITALY—II 65
9. 4 FRANCE AND ITALY Patterns of Reconstruction 71
10. 5 PUBLIC FINANCE, MONEY MARKETS, AND INFLATION IN FRANCE 99
11. 6 CREDIT RESTRICTIONS AND DEFLATION IN ITALY 112
12. II. THE MARSHALL PLAN AND THE END OF DISCRIMINATION
13. 7 TRADE STRUCTURE OF THE “MARSHALL PLAN COUNTRIES” 123
14. 8 INFLATION AND BALANCE OF PAYMENTS DEFICIT 130
15. 9 DOLLAR SHORTAGE AND DISCRIMINATION 135
16. 10 THE OEEC INTERIM REPORT ON THE EUROPEAN RECOVERY PROGRAM—A SUMMARY 141
17. 11 INTERNATIONAL ASPECTS OF A RECESSION 161
18. 12 THE U.S. RECESSION AND THE DOLLAR POSITION OF THE OEEC COUNTRIES 177
19. III. EUROPEAN INTEGRATION AND THE WAY BACK TO MULTILATERALISM
20. 13 THE NEW INTRA-EUROPEAN PAYMENTS SCHEME 187
21. 14 PROPOSAL FOR A EUROPEAN MONETARY AUTHORITY 196
22. 15 LIBERALIZATION OF THE ECA DOLLAR Introductory Note 210
23. 16 EUROPEAN PAYMENTS UNION—A POSSIBLE BASIS FOR AGREEMENT 214
24. 17 MULTILATERALISM AND EUROPEAN INTEGRATION 228
25. 18 THE EUROPEAN PAYMENTS UNION 248
26. 19 SIZE AND DISTRIBUTION OF THE PUBLIC DEBT IN SELECTED COUNTRIES 264
27. IV. THE ECONOMIC CONSEQUENCES OF U.S. HEGEMONY
28. 20 THE LONG-RUN EFFECT OF DEVELOPMENT AND INDUSTRIALIZATION ABROAD ON THE UNITED STATES 277
29. 21 THE INFLUENCE OF U.S. ECONOMIC CONDITIONS ON FOREIGN COUNTRIES 294
30. INDEX 317