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the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic …
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The world economy is expanding at a more moderate pace with growth momentum continuing to shift from emerging to advanced economies. World GDP will increase by 3.3 per cent this year – even some-what less than the already modest growth in the recent past. For 2016 and 2017 we expect growth to...
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In this paper we estimate a small macroeconometric model of the United States, the euro area and Japan with rational … Japan quite well. We then use it to evaluate the role of the exchange rate for monetary policy. Preliminary results, which …
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