If global imbalances are the result of such frictions, they are unlikely to unwind quickly.
All of these factors create frictions, he says, that could lead to confusion and uncertainty.
And a host of distortions and frictions makes that harder than it should be.
Much of the time, market solutions that address information problems, moral hazard and other frictions in markets work reasonably well.
The former measure would further accelerate inflation whereas the latter would create frictions between banking sector officials and government representatives.
It will serve you well, whether in coping with the frictions of everyday life or some life-shattering accident or tragedy.
Even if there are positive spillover benefits from increased home ownership, these come at the expense of greater frictions in the labor market.
And we emphasized other additional ways that we can encourage trade and reduce economic frictions between the two sides of the transatlantic relationship.
With that anniversary, and with stockmarkets teetering at dizzy heights, the renewed trade frictions between America and Japan are therefore cause for concern.
But the emphasis on imposing stability over finding solutions meant that many social frictions - such as that between Dayaks and Madurese - festered.
Today, it seems, most bilateral economic frictions are magnified through the prism of those geopolitical and philosophical differences, making controversies seem larger and more intractable.
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The same relative real changes can take place to reduce the imbalances without the frictions, and the fallout from the frictions, associated with changing domestic prices and wages.
Those frictions will almost certainly intensify over the coming year.
Despite these frictions, relations between ethnic groups are generally good.
By becoming online workers, people like Ben Gran are overcoming labor market frictions: they focus on skills that are in demand, overcome geographic barriers and work at competitive rates.
In fact, economic frictions are now more likely to be cast in the context of our geopolitical differences, which often serves to overstate the challenges and obscure the solutions.
Once-respected demarcations between geopolitical and economic aspects of the relationship have been blurred, and economic frictions are now more likely to be cast in the context of our geopolitical differences.
My economy is full of frictions that I as a member of the free agent nation struggle to deal with in the time I can allocate to work and leisure.
At the same time, there is a growing trend of remote employment, facilitated online, that is creating opportunity for businesses and professionals and is poised to address these labor market frictions.
Of course, the frictions they target are not purposeless.
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What we want is not a life where friction and frustrations have been carefully designed out, but a life where we can overcome the frictions and frustrations that stand in our way.
The symbolic message was important: that the traditional and the modernist strains of Indonesian Islam, represented by the NU and the Muhammadiyah respectively, could rise above their historical frictions and create an effective coalition.
What the author could not have anticipated was that today's frictions include not just the protectionism, resentment of immigrants, financial fragility and overburdened polities of the late 19th century, but the prospect of war as well.
We have agreed to address a set of next-generation trade issues, including removing frictions in the global supply chains, helping small and medium-size enterprises grow and better plug into the global trading system, and adopting smart, market-oriented innovation policies.
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