The latest data from Eurostat shows that fewer than half of the eurozone’s economies are now growing. Real GDP in the EZ as a whole was 0.4 percent lower in the first quarter of 2013 than a year earlier. The worst news came from the bloc’s biggest economies: Germany’s growth fell from 0.7 percent Y-o-Y [...]
Today, there is a consensus among Russian economists that the country’s government should encourage labor migration from the former Soviet Union. Such respected experts as Sergey Guriev, a rector of the New Economic School in Moscow, and Aleh Tsyvinski, a professor of economics at Yale University, strongly oppose the establishment of barriers to migration from [...]
Reports of the important recent IMF conference ‘Rethinking Macro Policy II: First Steps and Early Lessons’ suggest that it was refreshing and informative. What appears (from the reports) to have been largely overlooked at the conference, however, was a rethinking of the interrelationships and scope for improved coordination between monetary and fiscal policy. From a [...]
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Does the US hold the winning hand of the future?
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The ongoing weakness of America’s economy – where deleveraging in the private and public sectors continues apace – has led to stubbornly high unemployment and sub-par growth. The effects of fiscal austerity – a sharp rise in taxes and a sharp fall in government spending since the beginning of the year – are undermining economic [...]
Japan is stuck in a shrinking population trap, and neither monetary nor fiscal policy will adequately solve the problem.