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In contrast to the USA, Europe has struggled to return to the growth path it was on prior to the financial crisis of 2007–11. Not only has the recovery been slow, it has also been variable with Europe's core countries recovering more quickly than those on the periphery....
Modern macroeconomics has been based on the paradigm of the rational individual capable of understanding the complexity of the world. This has created a very shallow theory of the business cycle in which nothing happens in the macroeconomy unless shocks occur from...
Reforms in labour and product markets play a central role in government policies. The Political Economy of StructuralReforms in Europe takes stock of current frontier work. It brings together leading contributions from academia, the central banks in Europe, and the OECD...
The old discussion of 'Market or State' is obsolete. There will always have to be a mix of market and state.The only relevant question is what that mix should look like. How far do we have to let the market go its own way in order to create as much welfare as possible...
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