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PART I. GENERAL TRENDS IN OECD COUNTRIES Internal Developments -The Role of Policy -The Role of Foreign Demand -The Smaller Industrialised Countries -The Outlook Monetary Developments -The Banking Sector -The Housing Sector -State and Local Authority Finance -Business Investment -Conclusion and Outlook Trade and Payments -Trends in OECD Trade -Current Invisibles -Current Balances -Capital Movements -Official Settlements -Longer-Run Prospects PART II. LABOUR MARKET DEVELOPMENTS -The Rise in Unemployment -Comparative Levels of Unemployment -Changes in the Pattern of Irtra-European Migrat.