A new Bretton Woods moment
The COVID crisis has created economic calamity. Kristalina Georgieva argues that now is the time to build a more sustainable and equitable world
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MACROECONOMICS
Examining how the overall economy—the markets, businesses, consumers, and governments—behave, focusing on long-term economic growth and shorter-term business cycles
New economic challenges and the Fed’s Monetary Policy Review
The understanding of the economy has evolved in ways that are central to monetary policy. Jerome Powell says it is time for pro-growth policies, and softens the Fed’s approach to inflation
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Time inconsistency in recent monetary policy
The last decade has seen a continued accumulation of debt. Charles Goodhart, Tatjana Schulze and Dimitri Tsomocos argue that the fundamental issue of the effects of ‘low for longer’ on the resilience of our wider financial structure remain
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Deeper recession, wider divergences
Maarten Verwey and Björn Döhring consider the Commission’s Summer 2020 interim forecast, and argue that a rapid response at the EU level is needed to minimise hysteresis
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The global and Asia economic outlook
Tao Zhang considers the economic consequences of the COVID-19 pandemic, and says we need to work together to ensure a green and sustainable future
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Europe needs a fully-fledged CMU
Luis de Guindos, Fabio Panetta and Isabel Schnabel outline priority areas for reform to foster European capital markets
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Financing the EU: new context, new responses
Clemens Fuest and Jean Pisani-Ferry consider the EU budget, which has to be reassessed in light of the Next Generation EU programme
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How to prevent the looming sovereign debt crisis
There is a looming global debt crisis. Joseph Stiglitz and Hamid Rashid propose an IMF-managed multilateral sovereign debt buyback would restore stability
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The two sides of the (stable)coin
Global stablecoins signal the need for change, but they can pose serious risks, says Fabio Panetta
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