This 2005 Article IV Consultation highlights that the cyclical recovery of the French economy was interrupted in the first half of 2005, as previously strong domestic demand faltered and the external sector continued to exert a drag on growth. In 2004, growth was faster and more...

China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s...

Denmark’s flexicurity model has performed well during the crisis. The actions and the improvement in economic conditions have restored overall stability to the banking system. Private consumption has been dented by the decline in housing prices and net household wealth. Exports have...

Canada has run persistent deficits for years and has seen its debt rise steadily. Net federal debt as a percentage of GDP has increased in the last 15 years from 30 percent to 73 percent. Interest charges alone account for almost 34 cents of every federal revenue dollar. In response, the...

Chronic government budget deficits and escalating government debt have become major concerns in both developed and developing countries. To address the far-ranging implications, the bank's 1995 symposium in Jackson Hole, Wyoming, brought together a distinguished group of central bankers, finance...

Eliminating the federal budget deficit, even assuming a correspondingly higher national rate, is likely to yield only a modest reduction in the U.S. international trade deficit. Balancing the federal budget will help improve the trade balance through the effects of lower levels of aggregate...

With government deficits and debt at record highs, the long-term fiscal outlook for the U.S. requires serious attention, most agree. The fix is most likely going to have to start with fundamental reforms of entitlement programs.