This volume presents English, French, and Spanish words, phrases, and names of institutions most commonly encountered …

This paper highlights key issues pertinent for the understanding of international effects of domestic tax policies and … of international tax harmonization. The analytical framework adopts the saving-investment balance approach to the … analysis of international economic interdependence focusing on income, consumption, and international borrowing. A simulation …

-looking monetary policy decisions. The bias is higher for countries whose monetary policy was more independent of Germany … rates on real output growth for several European countries, using German interest rates as the instrument. We show that the … growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest …

This cross-country paper explains differences in external sector performance among four large euro area countries—France …, Germany, Italy, and Spain. The paper discusses that during 2001–04, the performance of the external sector differed markedly … among these four largest euro area countries. The study presented in this paper describes the evolution of the traditional …

Union is a major achievement but also a difficult process in the four countries (France, Germany, Italy, and Spain) …Fiscal deficits and the public debt has grown throughout much of the postwar period in most industrialized countries …

This paper presents the views of Lawrence H. Summers on the U.S. current account deficit and the global economy … rate, in the range of 5.5 percent of GDP. It represents more than 1 percent of global GDP and absorbs close to two …-thirds of the cumulative current account surpluses of all the world’s surplus countries. Summers thinks that such a unique …

This paper examines external adjustment in the U.S., Japan and Germany from the perspective of net foreign asset … each of the G-3 countries, it is a function of demographic variables and public debt. Second, deviations from the long …-run equilibrium give rise to disequilibrium feedback through domestic absorption and through other channels …

Central government wage expenditures accounted for 7 percent of GDP in 99 countries during 1980-90 (unweighted average … countries, and small low-income economies tend to have lower central government wage expenditures as a percent of GDP. Access to …). Regression analysis indicates that federations, countries with high populations and high per capita incomes, heavily indebted …

This paper discusses findings of the Report on Observance of Standards and codes for Denmark. Denmark has a high level … of compliance with the Basel Core Principles for Effective Banking Supervision. The Danish Financial Supervisory … significantly since the recent global crisis, and the DFSA emerged as a proactive supervisor. Its overall supervisory approach is …

years. In particular, it examines the experiences of Denmark, Ireland, the Netherlands, and Spain—four countries in which … policy and the EU’s institutional framework)—with a view to exploring how policies can best support economic recovery in …This report examines the experiences of four European countries that have had large house-price declines in recent …