Structural change in advanced industrialized countries has followed a very ambivalent course, with the resulting reductions in environmental stress in one area often being cancelled out by increases in another. What role has been played in this to date by industrial and economic policy? What...

In view of high and rising jobless rates in the industrialized countries the solution of the unemployment problem becomes a cardinal question for politicians and economists. What factors have determined the unemployment trend since the 1960s and what conclusions can be drawn for employment policy?

Unconventional forms of international trade (such as counterpurchase, compensation deals and barter) have assumed rapidly growing importance, especially in many developing countries, as a consequence of the fall in commodity prices and the worsening of international debt problems since the oil...

We use a previously unexploited consensus survey data set to compare accuracy, unbiasedness and efficiency of Current Account growth forecasts between two panels of 25 developed and 18 developing countries following the methodologies in the existing literature. Forecast errors are bigger for the...

The discussion about low interest rates and appropriate debt rules gained renewed impetus after Olivier Blanchard’s 2019 presidential address to the American Economic Association. Interest rates are persistently below growth rates in most advanced economies, including euro area sovereigns....