of the crisis. International risk sharing did little to shield domestic demand from the country-specific component of … output declines, while those countries with large pre-crisis current account deficits saw domestic demand fall by much more …

subsidies on energy consumption. In this paper we analyze a panel of cross-country data to explore the responsiveness of energy … consumption to changes in energy prices and the implications of our findings for the debate on energy subsidy reform. Our findings … indicate a long-term price elasticity of energy demand between -0.3 and -0.5, which suggests that countries can reap …

policy increasingly weighs on government finances, sustains energy over-consumption, dampens investment in delivery systems … are politically unpopular. Through estimation of household demand functions by income quintiles to evaluate the …

The need to revive Euro area growth highlights the importance of the evolution of domestic and external demand in the … core. This paper puts recent demand patterns in France, Germany, and Belgium into historical perspective. We find that …, first, dynamics for private consumption, non-residential business investment, and exports since 2008 is dominated by …

dependent on external demand from the rest of world. Current account adjustments have taken place, reflecting structural changes … ahead, relying only on relative price adjustments (which adversely affects demand) to rebalance the euro area could prove …

projected to expand by 3.8 percent this year, with private consumption and public investment as the main contributors. With this … rotation back to domestic demand-led growth, the current account deficit is widening again, while inflation remains above …

remain substantial. Inflation has risen, a consumption tax increase has been implemented, and there are signs of a transition …. Given very high levels of public debt, implementation of the second consumption tax increase is critical to establish a …