presented at the Peterson Institute of International Economics workshop on Correcting Global Imbalances

presented at CASE conference Kiev

NIESR Discussion Paper no 290. Forthcoming in R Vos (ed) ÔPolicy Coordination in the Global Economy' United Nations

This article looks at various aspects of fiscal consolidation in 18 OECD economies. The prospects for fiscal consolidation depend upon the problems a country may face with its debt stock, the political will to deal with these problems and on the costs of consolidation. These costs are a...

Presented at 7th Euroframe Conference: Exit strategies for EU economies in a globalised world, Brussels.

¥ Global GDP will grow by 4.4 per cent a year in 2005 and 2006. ¥ Inflation in the OECD will rise from 1.7 per cent last year to 2.1 per cent in 2005, the highest since 2001. ¥ The United States will grow by 3_ per cent a year in 2005 and 2006; inflation will rise to 3.2 per cent next year....

New member states will join the EMU in the coming years. Setting the central parity at which they will join has been and will be a challenging task, as there is a considerable amount of uncertainty, both from a theoretical and an empirical perspective, surrounding the determination of the...