Approaching the issue of mounting global imbalances from the perspective of the "Bretton Woods II hypothesis," this paper argues that the popular preoccupation with China's supposed export-led development strategy is misplaced. It also suggests, similar to Japan's depression, subdued growth in...

Financial and economic crises repeat themselves at indefinite intervals. As in the Great Recession (also known as Subprime Crisis) of 2007/2008 there was a bundle of events and processes that preceded it and contributed to its emergence, whether it be economic, political, or ideological. Based...

Der Rückgang der deutschen Staatsverschuldung auf rd. 60%des BIP in diesem Jahr ist ein Erfolg für die deutsche Haushaltspolitik. Eine Zerlegung der Entwicklung der Staatsverschuldung seit dem Jahr 2010 zeigt, dass der Schuldenabbau in Deutschland im Wesentlichen durch ein über weite Strecken...

Approaching the issue of mounting global imbalances from the perspective of the Bretton Woods II hypothesis,ʺ this paper argues that the popular preoccupation with China’s supposed export-led development strategy is misplaced. It also suggests, similar to Japan’s depression, subdued growth...

Using a database of up to 62 variables for 196 countries over 57 years, a hyperinflation cycle has been characterized to propose a broader setting of stylized facts. Beyond the usual facts, the findings in this paper contribute to the literature of modern hyperinflations in that these cycles...

The last decade witnessed an unprecedented economic growth in Emerging Market Economies (EMEs). EMEs have also been the main drivers of growth in the recovery following the global financial crisis. Nevertheless, EMEs continue to face a number of institutional and structural challenges that may...

Financial and economic crises repeat themselves at indefinite intervals. As in the Great Recession (also known as Subprime Crisis) of 2007/2008 there was a bundle of events and processes that preceded it and contributed to its emergence, whether it be economic, political, or ideological. Based...

Approaching the issue of mounting global imbalances from the perspective of the quot;Bretton Woods II hypothesis,quot; this paper argues that the popular preoccupation with China's supposed export-led development strategy is misplaced. It also suggests, similar to Japan's depression, subdued...

How can we measure the welfare benefit of ongoing stabilization policies? We develop a methodology to calculate the welfare cost of business cycles taking into account that observed consumption is partially smoothed. We propose a decomposition that disentangles consumption in a mix of...

The East African Community (EAC) is working towards establishing deeper integrationbetween its six partner states. The EAC partner states are: Burundi, Kenya, Rwanda,South Sudan, Tanzania and Uganda. This paper analyses the lessons the EuropeanUnion may offer the EAC in guarding against base...