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The Policy Mix and Macroeconomic Adjustment in the Euro Area

Mortensen, Jorgen, Alcidi Cinzia, (2012), ‘The Policy Mix and Macroeconomic Adjustment in the Euro Area’, www.ceps.be, 16 Οκτωβρίου.

Αccording to the most recent IMF World Economic Outlook (WEO),1 the recovery has suffered new setbacks and uncertainty weighs heavily on the future. The IMF forecast, unveiled in Tokyo ahead of the IMF-World Bank 2012 Annual Meetings last week, sees only a gradual strengthening of activity from the relatively disappointing pace of early 2012. Projected global growth, at 3.3% and 3.6% in 2012 and 2013, respectively, is weaker than in the July 2012 WEO Update, which was in turn lower than in the April 2012 WEO.