Dynamic stochastic general equilibrium (DSGE) models are in wide use yet have come under sharp criticism, given their complex nature and the assumptions they rely on. However, many central banks use them in policy analysis. Is this a misguided use of economists’ and policy makers’ time? This eBook reviews the use of DSGE models in policy institutions, the lessons learned, and the desirable ways forward.
The 4th Special Report in the Geneva Reports on the World Economy series reviews the current status of bail-ins and bank resolution in Europe. It provides a critical comparison of the US and EU bank resolution rules, examines European banking failures, and makes a number of policy recommendations concerning governance, stress testing, cross-border issues and resolution of financial contracts.
This e-book is the final volume in a series of three examining the shadow that history casts over various aspects of the economy and the polity. In particular, this volume turns its gaze on Europe and the Americas as it examines how key events from the past shaped the societies they travelled through and inform the economies of the modern world.
The aim of this eBook is to focus on the post-crisis ‘socio-economic policy’ identity of the European Union in the post-crisis period.
This e-book is the second in a series of three examining the shadow that history casts over various aspects of the economy and the polity. In particular, this volume provides an overview of how economists have attempted to shed light on the effects of European colonisers on development and culture across Africa and Asia.