This Country Focus shows that some simple reserve adequacy measures (particularly based on external debt indices) – although suffering from a number of drawbacks – seem to be sound indicators of the largest vulnerabilities within the CEE8 region. Nevertheless, the analysis of...

The UK's self-sufficiency in fossil fuels shields public finances from the negative effects of higher oil prices on general economic activity. Changes in the international price of oil affect government revenues from the corporate and household sectors. Taxes on oil production are estimated to...