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by José Viñals and Ceyla Pazarbasioglu The global regulatory landscape governing banks has changed from its pre-crisis status quo. In addition to the Group of Twenty advanced and emerging economies led global regulatory reforms, like Basel III, the United States and the United Kingdom have decided to directly impose limits on the scope of banks' [...]
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By Reza Moghadam What has been the role of foreign banks in financing growth and convergence in Central, Eastern and Southeastern Europe, and how is that role changing? This is discussed in the first issue of a new series of analytical work on the region called Regional Economic Issues, which we launched at a joint [...]
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By Anoop Singh Fiscal management has improved in Asia over the past decade. It has become more responsive to economic conditions and thereby helped stabilize growth, especially during the global financial crisis. While these are important achievements, major challenges still lie ahead--as our latest Asia and Pacific Regional Economic Outlook points out. What are these key challenges? [...]
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By Alejandro Werner (Version in Español) Latin America continues to be one of the fastest growing regions in the world, even though growth slowed down a bit in 2012. Many economies in the region are operating at or near potential, inflation remains generally low, and unemployment is at historically low levels. In the near term, [...]
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Guest post by: Joseph E. Stiglitz Columbia University, New York, and co-host of the Conference on Rethinking Macro Policy II: First Steps and Early Lessons In analyzing the most recent financial crisis, we can benefit somewhat from the misfortune of recent decades. The approximately 100 crises that have occurred during the last 30 years--as liberalization policies became dominant--have [...]
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Guest post by David Romer University of California, Berkeley, and co-host of Rethinking Macro II: First Steps and Early Lessons As I listened to the presentations and discussions, I found myself thinking about the conference from two perspectives. One is intellectual: Are we asking provocative questions? Are interesting ideas being proposed? Are we talking about [...]
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Guest post by George A. Akerlof University of California, Berkeley Senior Resident Scholar at the IMF, and co-host of the Conference on Rethinking Macro Policy II: First Steps and Early Lessons I learned a lot from the conference , and I'm very thankful to all the speakers. Do I have an image of the whole thing? I don't [...]
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By Olivier Blanchard The IMF has just hosted a second conference devoted to rethinking macroeconomic policy in the wake of the crisis. After two days of fascinating presentations and discussions, I am certain of one thing: this is unlikely to be our last conference on the subject. Rethinking and reforms are both taking place. But [...]
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By Anoop Singh Emerging economies in Asia have weathered the global financial crisis relatively unscathed and appear to be on track for continued strong growth this year and the next. Perhaps because the region has been doing rather well, policymakers' concerns have increasingly shifted towards medium-term risks: could growth and fast convergence to living standards in [...]
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By José Viñals Policymakers' decisive actions since our last report in October have increased global financial stability by reducing acute risks. In the euro area, policymakers averted a financial cliff. In the United States, the worst fears of the fiscal cliff had been averted, while balance sheet repair and continued monetary easing have supported financial [...]
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