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This paper considers the increase in current account imbalances in euro area countries since the early 1990s.
There is growing interest in the role of independent fiscal institutions, or fiscal councils, in helping to improve fiscal performance.
Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union.
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.
This paper describes the dynamics of the external positions of euro area countries since the formation of EMU.
The euro area is recovering from a severe recession. The build-up of large economic, fiscal and financial imbalances poses a major challenge. A new cross-cutting approach to these policy areas, together with structural reforms, is now required to make national economies more stable.
To what extent do governments use international standards in their technical regulations? This paper looks at the electrical household appliance, natural gas equipment and telephony sectors in Canada, Japan, Korea, Mexico, United States and the European Union.
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.
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.
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.