Despite a relatively high GDP growth rate over the past decade (2000–10), economic growth in Mauritania has not been able to make a significant dent in poverty. Rapid and sustained poverty reduction requires inclusive growth that allows people to contribute to and benefit from expanding...

The economic conditions in the euro area have brightened. Executive Directors commended the policy stance of the European Central Bank. They noted that the exchange rate developments of the euro failed to strengthen the euro area economy, and stressed the need for fiscal discipline, structural...

For the time being—and possibly for a considerable time to come—developments and prospects for the euro area are quite favorable. This upbeat outlook is underpinned by buoyant activity indicators and a supportive policy mix. High household and business confidence, rising capacity utilization...

This Selected Issues paper analyzes euro area policies and discusses the implications of the 2007–08 financial sector turbulence for real economic activity. It examines the linkages between the financial and real sectors in the euro area. The paper discusses the European Central Bank’s (ECB)...

To reduce the negative effects of a bank-lending crunch on economic activity, adequate credit provision should be ensured. Further bank recapitalization, restructuring and consolidation of the banking sector, and regulatory reform decisions will reduce uncertainty. A long-lasting configuration...

This note reviews outgoing U.S. consolidated regulatory and supervisory arrangements and explores options to strengthen them. Although U.S. consolidated regulation and supervision span from the smallest financial groups to the largest and most complex, much effort is focused on the latter. This...

The paper discusses the purpose, properties, and theoretical foundations of various indicators of inflation and also describes the forecasting methodology and performance of these indicators. It reviews the successful European labor market reform experiences and analyzes regulatory and...

The euro area recovered from the economic doldrums. Executive Directors welcomed the recovery, supported by strong financial conditions, global growth, and improved financial positions. They encouraged the reformed Stability and Growth Pact over fiscal policies, and underscored the need for...

This Selected Issues paper on Euro Area Policies underlies global rebalancing of accounts. From a growth-accounting perspective, slower growth in the capital-labor ratio seems to be the main driver behind the deceleration in labor productivity. The increase in bilateral trade was accompanied by...

This Selected Issues paper on Euro Area Policies reviews the integration of Europe’s financial markets and the challenges faced by the new European Union member states with respect to euro adoption. Markets in the Financial Instruments Directive are expected to become applicable in November...