Since a series of crisis events after 2007, the discussion about the adjustment channels of current account imbalances has been revived. We discuss the effectiveness of exchange rates versus macroeconomic policies to rebalance current accounts for a set of 86 mainly emerging market economies. We...

This short and preliminary paper considers the relationship between fiscal, monetary and prudential policy instruments. It argues that the currently employed instruments (government borrowing, expansion of central bank balance sheets) do not address the underlying reason for slow global growth,...

52nd Shann Memorial Lecture 2013 100th Year of Economics, University Of Western Australia

ABSTRACT We estimated Taylor rule models for the euro area using Consensus Economics forecasts of inflation and output growth for the period 1998.6–2010.8. We first examined whether the recent financial crisis has affected European Central Bank (ECB) policies. Our results indicate that the ECB...

This technical report presents EU-17 evidence on the extent of different measures of overeducation and overskilling among working age population in an attempt to provide a comprehensive understanding of the relationship between education and skill mismatch within the broader definition of...