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Chapter 1: Macroeconomic Conditions and Outlook

Author

Listed:
  • Torben M. Andersen
  • Giuseppe Bertola
  • John Driffill
  • Clemens Fuest
  • Harold James
  • Jan-Egbert Sturm
  • Branko Uroševic

Abstract

After the exceptionally long expansion phase that followed the very unusual Great Recession, global economic momentum slowed noticeably last year. Persistently high debt levels, lingering structural problems, and strong political uncertainties led to a relatively small expansion in physical capital stock, with production bottlenecks starting to emerge at the cyclical peak in 2017. In addition, the more restrictive monetary policy pursued by the US Federal Reserve implies capital outflows and slower growth in some emerging economies.

Suggested Citation

  • Torben M. Andersen & Giuseppe Bertola & John Driffill & Clemens Fuest & Harold James & Jan-Egbert Sturm & Branko Uroševic, 2019. "Chapter 1: Macroeconomic Conditions and Outlook," EEAG Report on the European Economy, CESifo, vol. 0, pages 10-37, February.
    • Handle: RePEc:ces:eeagre:v::y:2019:i::p:10-37
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    Cited by:

    1. Régis Barnichon & Geert Mesters, 2023. "Evaluating policy institutions -150 years of US monetary policy-," Economics Working Papers 1873, Department of Economics and Business, Universitat Pompeu Fabra.
    2. Regis Barnichon & Geert Mesters, 2020. "Identifying Modern Macro Equations with Old Shocks," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(4), pages 2255-2298.
    3. Régis Barnichon & Geert Mesters, 2020. "Optimal policy perturbations," Economics Working Papers 1716, Department of Economics and Business, Universitat Pompeu Fabra.
    4. Koh, Rachel & Kern, Jordan & Galelli, Stefano, 2022. "Hard-coupling water and power system models increases the complementarity of renewable energy sources," Applied Energy, Elsevier, vol. 321(C).
    5. Prakash, Kushneel & Kumar, Sanjesh, 2021. "“Smoking your child’s job away”: Parental smoking during one’s childhood and the probability of being employed in adulthood," Journal of Business Research, Elsevier, vol. 136(C), pages 86-98.
    6. Budi, Rizki Firmansyah Setya & Sarjiya, & Hadi, Sasongko Pramono, 2021. "Multi-level game theory model for partially deregulated generation expansion planning," Energy, Elsevier, vol. 237(C).
    7. Régis Barnichon & Geert Mesters, 2020. "A Sufficient Statistics Approach for Macro Policy Evaluation," Working Papers 1171, Barcelona School of Economics.

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