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Chapter 1: The European Economy: Macroeconomic Outlook and Policy

LarsCalmfors, GiancarloCorsetti, Michael Devereux (), SeppoHonkapohja, GillesSaint-Paul, Hans-WernerSinn, Jan-EgbertSturm and XavierVives
Authors registered in the RePEc Author Service: Jan-Egbert Sturm (), Xavier Vives (), Seppo Mikko Sakari Honkapohja (), Hans-Werner Sinn (), Gilles Saint-Paul () and Giancarlo Corsetti ()

EEAG Report on the European Economy, 2007, 15-58

Abstract: This chapter provides a macroeconomic outlook and discusses fiscal and monetary policy options for the euro area. The forecast is one of a mild slowdown in the world economy and a slower – but continued – recovery in the European economy. The need for further fiscal consolidation in the EU countries and for a restructuring of government expenditures in favour of government investment, R&D and education is stressed. A special section analyses how well the common monetary policy has fitted individual countries. The upshot is that there are considerable stabilisation policy costs which have not fallen over time. •

Date: 2007
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Related works:
Journal Article: Chapter 1: The European Economy: Macroeconomic Outlook and Policy (2009) Downloads
Journal Article: Chapter 1: The European Economy: Macroeconomic Outlook and Policy (2008) Downloads
Journal Article: Chapter 1: The European Economy: Macroeconomic Outlook and Policy (2006) Downloads
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