EEAG’s 2007 Report provides a comprehensive forecast for the European economy for the coming year, with a special section on Eastern European countries. In addition, it addresses several important policy issues, including an in-depth examination of whether the features of the Scandinavian...

In 2005 the world economy still developed strongly, but, with GDP growth of 41/2 percent, at a somewhat slower pace than in 2004. Developments still differed substantially among major regions. Whereas output continued to increase in a robust and strong manner in the US and it showed a clear...

Global economic conditions have deteriorated considerably since summer 2011. Europe in particular has been obliged to revise its growth expectations sharply downwards. The debt crisis and its consequences have stifled demand worldwide, even impacting regions that have long been developing...

There are differing views on the causes of, and cures for, this crisis. At one end of the spectrum, some ultimately see it as a public debt crisis and advocate the strengthening of political constraints on government borrowing. Others primarily regard it as a confidence crisis, which should be...

This chapter summarises recent developments in Hungary and aims to shed some light on why Hungary failed to live up to the expectations of the early 1990s. Section 5.2 analyses Hungary’s growth performance since 1990, and is followed by an analysis of its labour markets in Section 5.3. Section...

Chapter 2: The European Balance-of-Payments Problem: Introduce ‘euro-standard’ bills / Settle Target balances. Chapter 3: Banking Regulation: Promote European financial integration / Give national central banks a supervisory role / Redesign the euro area’s financial architecture. Chapter...

Section 3.2 of this chapter overviews the crisis and its regulatory failures. Section 3.3 deals with ongoing regulatory reform, while Section 3.4 analyses competition policy and its interaction with regulation. In Sections 3.5 and 3.6 we look at the reform of the European Union’s financial...

Authors of the Report on the European Economy 2012