A majority of UK-based macroeconomists welcome the government’s new industrial strategy, but doubt that the government can deliver. This column, which presents the results of the latest Centre for Macroeconomics and CEPR survey, shows a large majority of economist think that the UK needs a new regional strategy to tackle inequality across different parts of the country.
Wouter den Haan, Martin Ellison, Ethan Ilzetzki, Michael McMahon, Ricardo Reis, 20 February 2017
Richard Baldwin, 25 December 2015
Team Vox wishes to thanks all its readers and contributors for making 2015 a great year for the site. Vox will post no new columns between 25 December 2015 and 2 January 2016. There is, however, plenty to catch up on. This column presents a list of topical columns written by leading economists in 2015. It also presents a few statistics on Vox’s popularity.
Philippe Weil, 20 June 2014
The CEPR Business Cycle Dating Committee recently concluded that there is not yet enough evidence to call a business cycle trough in the Eurozone. Instead, the committee has announced a 'prolonged pause' in the recession. This Vox Talk discusses the possible directions that this situation could lead to and questions whether the Great Recession has harmed the Eurozone’s long-term growth prospects to the extent that meagre growth could become the 'new normal'.
CEPR CEPR Business Cycle Dating Committee, 17 June 2014
The simplest business cycle dating algorithm declares recessions over after two consecutive quarters of positive GDP growth. By that metric, the Eurozone recession has been over since 2013Q1. This column argues that growth and improvements in the labour market have been so anaemic that it is too early to call the end of the Eurozone recession. Indeed, if this is what an expansion looks like, then the state of the Eurozone economy might be even worse than economists feared.
Philippe Weil, 19 November 2012
Philippe Weil, newly appointed Chair of CEPR’s Euro Area Business Cycle Dating Committee, talks to Viv Davies about the Committee’s recent announcement of a peak in economic activity in the Eurozone in the third quarter of 2011 and that the Eurozone has been in recession since then. They discuss the issue of heterogeneity of business cycles of Eurozone countries, the likely impact of subsequent data revisions, and future plans for the Dating Committee. The interview was recorded on 16 November 2012. [Also read the transcript]
Simon Evenett, Frédéric Jenny, 15 February 2012
After several decades of quiescence, global commodity prices almost doubled in 2008 and, after a brief fall, rose again in 2011. The papers in this new CEPR eReport aim to identify and assess the importance of the factors responsible for the recent increases in the levels and volatility of commodity prices.
Harald Uhlig, 08 October 2010
CEPR’s Euro Area Business Cycle Dating Committee has announced that the recession that began in the first quarter of 2008 came to an end in the second quarter of 2009. Harald Uhlig of the University of Chicago, who chairs the committee, talks to Romesh Vaitilingam about how this recession compares with previous recessions and with the US recession, and about the components of GDP that are driving recovery. The interview was recorded in a telephone press conference on 4 October 2010.