2-July-2012
English
Europe is putting in place a new system of fiscal rules following the euro area sovereign debt crisis and decades of rising government to debt-to-GDP ratios. These include the so-called "six pack" to upgrade the Stability and Growth Pact to a new Treaty incorporating the "fiscal compact".
19-April-2012
English
Poor growth performance over the past decades in Europe has increased concerns for rising income dispersion and social exclusion.
15-December-2010
English
This paper considers the increase in current account imbalances in euro area countries since the early 1990s.
15-December-2010
English
Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union.
15-December-2010
English
The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms.
15-December-2010
English
This paper describes the dynamics of the external positions of euro area countries since the formation of EMU.
15-December-2010
English
There is growing interest in the role of independent fiscal institutions, or fiscal councils, in helping to improve fiscal performance.
22-July-2010
English
This study analyses the impact of economic catching up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe.
5-July-2010
English
Higher oil prices and the prospect of higher borrowing costs are likely to reduce the productive potential of OECD economies. The present study provides illustrative numerical estimates of the impact under different scenarios using a stylised model based on a production function.
9-June-2010
English
European energy policy faces a number of interrelated challenges, including making the transition to a low–carbon economy, increasing cross–border competition in electricity and gas markets and diversifying Europe’s energy supply.