O’Neil, Jim, (2017), “Taking Eurozone Growth Seriously”, Project Syndicate, 16 Μαϊου
I have been out of the world of international finance and economic forecasting for more than four years, but much of what I learned during my 30 years working full-time in the field still influences how I view the world. One lesson was to measure an entity’s economic and financial performance by how it compares both to the entity’s underlying potential and the market’s valuation of its performance. Applying this approach to the major economies gives rise to some surprising observations – and possibilities.
For starters, contrary to popular belief, world growth hasn’t been especially disappointing so far this decade. From 2010 to 2016, global output rose at an average annual rate of 3.4%, according to the International Monetary Fund. That may be lower than the 2000-2010 average, but it is higher than the growth rate in the 1980s and 1990s – decades that are not typically viewed as economically disappointing.
- Gilbert, Mark, (2017), “Euro-Zone Growth Pessimists Will Be Proved Wrong (Again)”, Bloomberg, 28 Μαρτίου
- Gros, Daniel, (2017), “Mixed Signals from the Eurozone”, Project Syndicate, 16 Μαρτίου