Over the last thirty years or so the developments in the area of monetary and macroeconomic policies have been quite substantial. Within the new consensus macroeconomics (NCM), monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of...

Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...

"This outlook provides a focused assessment of the state of public capital in the major European countries and identifies areas where public investment could contribute more to stable and sustainable growth. A European Public Investment Outlook brings together contributions from a range of...

Machine generated contents note: List of Tables * List of Figures * Foreword * Acknowledgements * List of Contributors * Introduction--J.Ayuso-i-Casals, S.Deroose, E.Flores& L.Moulin * PART I: FISCAL RULES AND INSTITUTIONS AS USEFUL DEVICES TO ADDRESS THE DEFICIT BIAS * Dealing With the Deficit...

The economic recovery in CESEE has strengthened further in recent months, resulting in a number of additional upgrades to our growth forecasts for 2021, to 5.4% on the regional average. This good performance has been built on two important foundation stones: the adaptation of the CESEE economies...