Policy options to durably resolve euro area imbalances

A simple econometric framework is presented linking current account balances of euro area countries to intra and extra euro area competitiveness, cyclical positions, fiscal positions and the oil price.

The price of oil – will it start rising again?

Following a sharp drop amidst the global economic crisis and a subsequent recovery, the spot price of crude oil has been broadly stable for the past couple of years. This paper discusses the factors that drive oil demand and supply and, hence, the price of the resource.

Current account benchmarks for Turkey

Turkey’s current account deficit widened to almost 10% of GDP in 2011 and has been narrowing only gradually since. An important question is to what extent Turkey’s current account deficit is excessive.

Related Documents

• Economic Survey of Turkey 2012

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The differential between the interest rate paid to service government debt and the growth rate of the economy is a key concept in assessing fiscal sustainability.