Assessing the quantitative impact of the fiscal packages which have been adopted in the current financial crisis is extremely difficult. The studies which are presented in this paper show wide differences, both for short-term and for medium-term multipliers. Moreover, multipliers which are...

The global economy is losing steam. After a weak start in the beginning of this year, world production accelerated again in the second quarter of 2018. However, the recent expansion probably overstates its underlying momentum. At the same time, the expansion is becoming less even as compared to...

World economic growth is moderating accompanied by a broad-based deterioration in economic sentiment. Following a temporary pick up in the second quarter, global activity slowed down significantly in the third quarter and sentiment indicators point towards a further deceleration towards the end...

The global economy held up better than expected in the face of the inflation shock and the massive tightening of monetary policy in 2023, even if the economic expansion was moderate. Inflation is now falling swiftly and monetary policy is expected to start cutting interest rates in the first...