This paper considers how a range of economies are adjusting to the external imbalances that they faced at the beginning of the current crisis. It also considers how the real economy may adjust when recovery eventually takes hold. Finally it considers how the adjustments under way will contribute...

[eng] Towards a New Economie Policy in Europe? Ray Barrell (Niesr-London); Paolo Bosi and Paolo Onofri (Prometeia-Bologna); Odile Chagny, Gael Dupont, Thierry Latreille, Catherine Mathieu and Henri Sterdyniak (OFCE-Paris); Joachim Volz (DIW-Berlin). There has been a clear shift towards more...