The global economy is currently expanding at a moderate pace, albeit with considerable differences in momentum across … countries. The economy in the United States is still growing at robust rates, whereas the euro area is in a phase of stagnation … inflation rates are not expected to fall sustainably close to the target levels again until 2025. Risks for the global economy …

, however, is that there seem to be certain threshold levels of financial and institutional development that an economy needs to …

episode took a very heavy toll on the real economy, we argue that this was not a surprising outcome. In particular, historical …

für das kommende Jahr eine merkliche konjunkturelle Verlangsamung, wenngleich der Produktionsanstieg in der Welt insgesamt …