Chapter 1: Macroeconomic Outlook

Lars Calmfors, Giancarlo Corsetti (), John Hassler, Gilles Saint-Paul (), Hans-Werner Sinn (), Jan-Egbert Sturm (), Akos Valentinyi () and Xavier Vives ()

EEAG Report on the European Economy, 2012, pages 17-56

Abstract: 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 dynamically, like East Asia. The only recent ray of hope came from the US economy, which outperformed forecasts last autumn. Overall, the world economy is expected to expand at a slower pace during the winter of 2011–2012 and to recover tentatively over the rest of the year. This forecast is based on the assumption, however, that the debt crisis in Europe will not worsen.

Date: 2012
References: Add references at CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.cesifo-group.de/portal/page/portal/DocB ... eport_chap1_2012.pdf (application/pdf)

Related works:
Journal Article: Chapter 1: Macroeconomic Outlook (2013)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:ces:eeagre:v::y:2012:i::p:17-56

Access Statistics for this article

EEAG Report on the European Economy is edited by European Economic Advisory Group

More articles in EEAG Report on the European Economy from CESifo Group Munich
Address: Poschingerstrasse 5, 81679 Munich, Germany
Contact information at EDIRC.
Series data maintained by Julio Saavedra ().