This paper presents evidence for structural differences in economic growth dynamics between the current EU and the central- and eastern European accession countries. Two important results emerge from the analysis. First, accession countries have posted higher average growth and wider output...

u0093Bond Market Inflation Expectation and Longer-term Trends in Broad Monetary Growth and Inflation in Industrial Countries, 1880-2001u0094 by William G. Dewald, Professor of Economics Emeritus, Ohio State University and Former Director of Research, Federal Reserve Bank of St. Louis. Annual...

Private consumption is a key component in the rebalancing of growth that China is seeking, and a challenging one. Not only for the 1.3 bn. Chinese citizens, but it could make an important contribution in addressing global imbalances. Understanding what drove the consumption share down to a mere...

China's economy slowed significantly in the first three quarters of 2012 and questions have been raised on a possible hard landing. While recent early indicators have shown signs of improvement in the most recent months, it is essential to understand what is driving this slowdown and how lasting...

Since the release of the 12th Five-Year Plan in 2011, a reform of China's household registration system – the so-called hukou reform - is mentioned as a possible tool to promote labour mobility, boost incomes, rebalance the growth model towards consumption and create a stable urban society....

China's economy is at a cross roads. The factors that have driven its economic transformation over the last decades are waning and the country faces increasingly urgent environmental and social pressures. To avoid falling into the 'middle-income' trap, China's leaders are attempting to engineer...

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...

Policy attention to the security industry increased substantially after the terrorist attacks in the U.S. on September 11th, 2001. With an increased demand for security, the global security market grew a tenfold to around €100 billion in 2011. Many studies expect that growth of the worldwide...

The evaluation assesses whether the Partnership Instrument (PI) is fit for purpose and effective in delivering resources towards the achievement of the EU's external policy objectives, both at the start of the planning period (2014) and in the period since. The evaluation also considers the...