It Is Too Early to Withdraw Fiscal Stimulus?
Private demand is not yet strong enough in advanced countries to compensate for the drag to come from fiscal stimulus withdrawal. Large countries that can afford to delay the withdrawal should do so. […]
Economy
The Global Outlook and Prospects for Capital Flows
Following the financial crisis, advanced countries are weak and recovering unsteadily, implying that capital flows to emerging markets are likely to be volatile in the years ahead. […]
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. […]
The Future of the World Trading System
As international integration deepens and the global trading system becomes increasingly more complex, the WTO can take important steps to not only promote trade liberalization, but also to reaffirm its role as the ultimate regulator of global trade. […]
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. […]
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. […]