The world has not yet begun to deleverage its crisis-linked borrowing. Global debt-to-GDP is breaking new highs in ways that hinder recovery in mature economies and threaten new crisis in emerging nations – especially China. The latest Geneva Report on the World Economy argues that the policy path to less volatile debt dynamics is a narrow one, and it is already clear that developed economies must expect prolonged low growth or another crisis along the way.
This Vox EU Course Companion, the first in the series, is a collection of carefully selected Vox columns designed to supplement Mankiw’s Macroeconomics textbook. Vox Course Companions provide relevant examples of economic theory in action and offer thought-provoking perspectives on arguments that come up time and again in exam-style questions. They bring together analyses of economic phenomena by leading economists as they happened, while applying and comparing the suitability of competing economic theories.
Six years after the Global Crisis, the recovery is still anaemic despite years of near-zero interest rates and extraordinary central bank manoeuvres. This eBook gathers the thinking of leading economists on whether ‘secular stagnation’ to blame.
The Aid for Trade (AFT) initiative has been successful in mobilising funding to aid developing countries – in particular, the least developed – cope with the cost of implementing Uruguay Round commitments. However, whether the aid has really made a difference in their ability to take part in world trade growth remains unclear. This CEPR Press book shows how the wealth of available methods helps to confront the conceptual and measurement difficulties in identifying causal relationships from interventions to outcomes.
The World Trade Organisation is one of the most successful instances of multilateral cooperation post-WWII. Yet WTO negotiators have yet found a way to break the recent deadlock on key elements such as the market access and rule-making dimensions on the agenda since 2001. This new CEPR Press book suggests the adoption of a ‘supply chain framework’ that could help to help mobilise greater support for concluding the Doha Round and provide a basis to use the WTO as a forum for learning from regional initiatives.