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Chapter 1 of the report discusses the immediate macroeconomic outlook for the global economy, with a particular focus on the European situation. Chapter 2 focuses on Switzerland, and specifically on the lessons that Europe can learn from the Swiss experience in maintaining cohesion while...
Persistent link: https://www.econbiz.de/10010877373
This chapter identifies the factors that led to imbalances in the euro area, which resulted in the current balance-of-payments crisis. The chapter also discusses how rebalancing might be achieved, and how fiscal policy could accelerate this process.
Persistent link: https://www.econbiz.de/10010877374
This chapter investigates two of the most widely debated aspects of US fiscal and financial integration: (1) the responsibility of the federation for state-level debts and for the creditworthiness of states; and (2) the working of a federal central bank. Today’s fiscal federalism in the United...
Persistent link: https://www.econbiz.de/10010877376
This chapter examines the interactions between the different institutional characteristics of labour markets in Europe, and the impact of the current recession on their unemployment structure and dynamics. Section 3.2 sketches the wide variety of unemployment experiences across countries in...
Persistent link: https://www.econbiz.de/10010877377
Authors of the Report on the European Economy 2013
Persistent link: https://www.econbiz.de/10010877378
Chapter 2: Switzerland: Relic of the Past, Model for the Future? / Learn from the Swiss approach to diversity management. / Embrace pragmatic compromises as a way of laying firm foundations for common institutions and policies. / Adopt both a common legal and regulatory infrastructure, and a...
Persistent link: https://www.econbiz.de/10010877379
Chapter 1 of the report discusses the immediate macro economic outlook for the global economy, with a particular focus on the European situation.
Persistent link: https://www.econbiz.de/10010877380
Chapter 2: The European Imbalance: Try a fiscal devaluation / Cut expenditure rather than raising taxes during fiscal consolidation / Reduce the Greek debt overhang brChapter 3: Labour Market Reforms and Youth Unemployment: Two-tier labour markets should be eliminated / Make dismissal costs for...
Persistent link: https://www.econbiz.de/10010877381
Huge global imbalances have emerged as a result of the massive current account deficits of the US. The US deficit is largely matched by surpluses in Asia, oil-exporting countries and a few European countries. Correction of global imbalances will require substantial depreciation of the US dollar,...
Persistent link: https://www.econbiz.de/10005013979
This chapter analyses macroeconomic adjustment within the euro area. The focus is on the adjustment problems in Ireland (which has had a booming economy) and Italy (which has instead been exposed to strong contractionary shocks). The analysis stresses how adjustment processes may be much more...
Persistent link: https://www.econbiz.de/10005013981