This paper examines the real return that households in large euro area countries achieved with their financial portfolios since the onset of the euro. A newly compiled dataset shows that, contrary to widespread belief, overall real returns did not decline in the low interest environment. Indeed...

To gauge the breadth of current inflation and prospects for inflation returning to target, we consider disaggregated measures of CPI infl ation to evaluate trends and then consider diff erent scenarios for the realisation for wages and prices.

Is there a stable quantitative relationship between the exports of developing countries and prosperity in developed countries? The controversy between Lewis and Riedel on this question is taken up anew in this paper and examined in the light of ten years of added data and by estimating...

At the beginning of the 1990s debt accumulation has become persistent and the growth-cum-debt models which previously guided international lending offer no solution to the problem. The following article argues that major deficiencies in the methods used until now to assess the creditworthiness...