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Organization for European Economic Cooperation

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  • Anonymous

Abstract

Annual Report: The fifth annual report of the Organization for European Economic Cooperation, which was released in January 1954, stressed three developments:) the elimination of inflationary trends of recent years;) the improvement of west Europe's balance of payments, both over-all and with the dollar area; and) the continued failure of western European production to expand at a satisfactory rate. After a brief look at the causes and consequences of the first two of these developments, the report turned its attention to the third and concluded that, unless specific proposals were implemented and if world conditions remained generally the same, European production as a whole would increase only slightly, and Europe's exchange reserves were likely to increase. Several factors which led to these conclusions were:) internal demand was not likely to expand without more expansionary policies by governments;) since export earnings of primary producers were not likely to increase, external demand for European production was similarly not likely to increase; and) United States over-all current surplus, exclusive of all military transactions, would be offset by a new military expenditure abroad of $2.5 billion in 1953 and $2.1 billion in the first half of 1954.

Suggested Citation

  • Anonymous, 1954. "Organization for European Economic Cooperation," International Organization, Cambridge University Press, vol. 8(2), pages 280-284, May.
  • Handle: RePEc:cup:intorg:v:8:y:1954:i:2:p:280-284_18
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    Cited by:

    1. Eichengreen, Barry & Hatton, Tim, 1988. "Interwar Unemployment in International Perspective," Institute for Research on Labor and Employment, Working Paper Series qt7bw188gk, Institute of Industrial Relations, UC Berkeley.
    2. Irving B. Kravis & Robert E. Lipsey, 1982. "Towards an Explanation of National Price Levels," NBER Working Papers 1034, National Bureau of Economic Research, Inc.
    3. W. F. Shepherd & D. S. Prasada Rao, 1981. "A Comparison of Purchasing Power Parity between the Pound Sterling and the Australian Dollar in 1979," The Economic Record, The Economic Society of Australia, vol. 57(3), pages 215-223, September.
    4. Dale Jorgenson & Eric Yip, 2001. "Whatever Happened to Productivity Growth?," NBER Chapters, in: New Developments in Productivity Analysis, pages 509-540, National Bureau of Economic Research, Inc.
    5. James Tobin, 2019. "Cycles in macroeconomic theory," Indian Economic Review, Springer, vol. 54(1), pages 159-178, December.
    6. Froot, Kenneth A. & Rogoff, Kenneth, 1995. "Perspectives on PPP and long-run real exchange rates," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 32, pages 1647-1688, Elsevier.
    7. Bettina Aten & Alan W. Heston, 2003. "Regional Output Differences in International Perspective," WIDER Working Paper Series DP2003-55, World Institute for Development Economic Research (UNU-WIDER).
    8. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
    9. Mohsen Bahmani‐Oskooee & ABM Nasir, 2005. "Productivity Bias Hypothesis and The Purchasing Power Parity: a review article," Journal of Economic Surveys, Wiley Blackwell, vol. 19(4), pages 671-696, September.
    10. Bart van Ark & Erik Monnikhof & Marcel Timmer, 1999. "Prices, Quantities, and Productivity in Industry: A Study of Transition Economies in a Comparative Perspective," NBER Chapters, in: International and Interarea Comparisons of Income, Output, and Prices, pages 327-367, National Bureau of Economic Research, Inc.

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