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Economic Assessment of the Euro Area. Autumn Report 2008

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  • Euroframe – European Forecasting Research Association for the Macro-Economy

    (Euroframe – European Forecasting Research Association for the Macro-Economy)

Abstract

According to the latest forecast made by the international Euroframe group, of which WIFO is a member, the GDP in the euro zone will decline by 0.4 percent in 2009, and a low growth rate of 0.5 percent is expected for 2010. It will take until 2011 for the economy to return to modest growth (+1.6 percent). The USA, UK and Japan are similarly expected to experience a decline of their real GDP. A model simulation indicates that an expansive fiscal policy which is internationally coordinated could do better in alleviating the slump than could measures taken by each individual country.

Suggested Citation

  • Euroframe – European Forecasting Research Association for the Macro-Economy, 2008. "Economic Assessment of the Euro Area. Autumn Report 2008," WIFO Studies, WIFO, number 34439.
    • Handle: RePEc:wfo:wstudy:34439
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    References listed on IDEAS

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    4. Ray Barrell & Ian Hurst & Simon Kirby, 2008. "Financial Crises, Regulation and Growth," National Institute Economic Review, National Institute of Economic and Social Research, vol. 206(1), pages 56-65, October.
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    Euro-Raum Prognose Outlook;

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