Three years after the official end of the 'Great Recession', millions of workers across advanced economies remain unemployed. The US and UK unemployment rates remain above 8%; among Eurozone countries, unemployment exceeds 10% (US Bureau of Labor Statistics).
Why the jobs problem is not going away
Richard Dobbs, Anu Madgavkar, 19 September 2012
Quota formula reform is about IMF credibility
Arvind Virmani, 22 June 2012
The Eurozone crisis has overwhelmed all other debates about the reform and development of global governance institutions dealing with the world economy . It is therefore necessary to remind ourselves why we need a reform of the IMF quota formula.
The first global recession in decades
Jean Imbs, 10 November 2010
The current turmoil is often argued to have had unprecedented global consequences (see Sugawara et al. 2010 for example).
Lessons in regionalism: What can the WTO teach the IMF?
Kati Suominen, 3 November 2010
The epicentre of financial regionalism is Asia. Emerging East Asian economies, scarred by the IMF’s policy conditionalities during the 1997-98 regional financial crisis, are busily building national reserves and regional financial arrangements so as to wean themselves off the Fund’s influence.
A currency war the US cannot win
Yiping Huang, 19 October 2010
A new currency war is looming. The US Congress has already passed a bill for imposing currency import tariffs, although becoming an actual policy is still a long shot. Tim Geithner is urging the IMF and the international community to play more active roles in promoting more flexible exchange-rate regimes.
Debating the global roots of the current crisis
Brad Setser, 28 January 2009
There is a broad consensus that regulatory weaknesses, distorted incentives and excessive leverage in the US (and European) financial sector contributed to the current, severe global financial crisis. The investment banks themselves presumably no longer think that doubling their leverage from 2004 to 2007 was a good idea. The Western financial sector made two big bets.
A $2 trillion question
Gian Maria Milesi-Ferretti, 28 January 2009
With the raging financial crisis and the possible measures to combat it taking centre stage in the policy debate, the focus on the US current account deficit and its implications for the US net external asset position has waned to some extent.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013
Holmes, McGrattan, Prescott
Beck, De Haas, Ongena