Is More Fiscal Stimulus Needed?
Countries that can afford to continue to spend, including the United States, should not abandon fiscal stimulus until the private sector recovery is clearer. […]
Economic Instability
G20 Could Shed More Light, Less Heat
While the G20 is right to concentrate on short-term macroeconomic policy for now, its rhetoric must shift to better reflect reality, and more attention needs to be paid to structural reforms. […]
The Enduring Euro Crisis
The problems that led to the crisis in Europe go beyond just fiscal profligacy and will take a long time to correct. Though the euro will likely survive the adjustment, the crisis could still have a profound effect on the global economy. […]
The Euro in Crisis: Global and Regional Implications
Despite unprecedented support from the European Union and the IMF, the euro crisis that began in Greece has quickly engulfed Europe and now threatens the very future of the euro. […]
Paradigm Lost: The Euro in Crisis
The euro crisis is driven primarily by two elements – problematic sovereign debt in Greece, Ireland, Italy, Portugal, and Spain, and fragile European banks. While ballooning public debt may be the clearest manifestation of the euro crisis, its roots go much deeper. […]
Lessons from the Global Financial Crisis
With the effects of the financial crisis that began nearly two years ago still being felt today, the time has come for a candid assessment of the structural and regulatory weaknesses that helped create it. […]
Global Trade on the Mend but Serious Risks Remain
The strong recovery in global trade is now threatened by the European debt crisis, which will depress demand in Europe, reduce trade financing, and potentially force the early withdrawal of stimulus measures across the G20 and increase protectionism. […]
Why is Obama Calling Merkel?
The United States has a vital interest in containing the Euro crisis, and Germany’s leadership or lack of it will determine whether the response to the crisis succeeds or the euro zone unravels. […]
Fair Competition was Distorted but There is No Protectionist Surge
The Great Recession prompted a number of far-reaching government interventions. While those interventions did distort competition, they did not do so in an overly protectionist way that risks undermining markets in the longer-term. […]
Causes and Consequences of the Euro in Crisis
European leaders are finally coming to appreciate the depth and severity of the European debt crisis, but their policy responses so far still do not go far enough to resolve the crisis. […]