This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone (Argentina, Brazil, Chile, Paraguay and Uruguay) during four episodes of international crises: 1994, 1997-1999, 2001 and 2008. In contrast with earlier episodes when most...

This paper dwells on the Eurozone woes and addresses the origins of the transition from a fictitious boom to a painful bust by unravelling (i) the supply-side structural imbalances that formed the core-periphery economic divide, and (ii) the necessity of the periphery's sovereign debt to finance...

This working paper provides an overview of the main markets relevant to the EIF, with a particular focus on the impact of COVID-19. It starts by discussing the general market environment, then looks at the main aspects of equity finance and the markets for SME debt products and, finally, it...

The COVID-19 pandemic has led to the biggest global recession since the Second World War. Forecasts show the European Union underperforming economically relative to the United States and China during 2019–2023. Southern European countries have been particularly strongly affected. Some sectors...

The response in 2008-09 to the global financial crisis was in many ways a high water mark for transatlantic policy coordination. The major economies of the EU and the US rapidly agreed on a series of measures to limit the crisis. However, the common approach has since unraveled. This paper...

The fact that increasing importance is being attached to foreign trade under the new Chinese leadership must not be mistaken for automatic expansion of the importation of foreign goods. Foreign trade will, as before, have only a complementary function in the economic development of China. For...