This paper evaluates the performance of two alternative policy rules, a forward-looking rule and a spontaneous adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union data. The simulations suggest that forward-looking rules...

This paper reviews the recent growth experience of the Greek and Portuguese economies and their determinants, comparing it with the rest of the euro area as well as a large set of other economies. Estimates from fixed effects panel and cross-section regressions are used to estimate how changes...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Das MEMORANDUM 2009 handelt von einer dramatischen Situation: Die Weltwirtschaftskrise ist auch in Deutschland angekommen. Was sind deren Ursachen, welche spezifische Ausprägung nimmt sie hierzulande an, warum und wodurch wird sie bei uns noch verschärft? Die Arbeitsgruppe Alternative...