Re: Why economists do not care about high rates of unemployment w

[Paul Davidson <PB108928%UTKVM1.BITNET@xxxxxxxxxxxxxxxxx>]

FROM:  Paul Davidson
"      Economics Department
"      523 Stokely Management Center  (615) 974-4221
The Russians conribution to the emergence of the Eurodollar market started in 1
956 -- 16 years before the Bretton Woods system broke down. Some of the Petro-
dollar recycling may have gone through the Eurodollar system but, under the
pressure of the US State Department, much of it was recycled through US banks b
efore they became major players in the eurodollar market. By so doing, the US
was better able to finance its merchandise trade deficit after the first oil pr
ice shock in late 1993.

Have a good day!____Paul Davidson
))))_ fax # (615) 974-1686