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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, April.
    • Handle: RePEc:wfo:wstudy:34439
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    References listed on IDEAS

    as
    1. Barrell, Ray & Hurst, Ian & Kirby, Simon, 2008. "Financial Crises, Regulation and Growth," National Institute Economic Review, National Institute of Economic and Social Research, vol. 206, pages 56-65, October.
    2. Patrick Honohan, 2008. "Risk Management and the Costs of the Banking Crisis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 206(1), pages 15-24, October.
    3. Olivier Blanchard & Roberto Perotti, 2002. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1329-1368.
    4. Honohan, Patrick, 2008. "Risk Management and the Costs of the Banking Crisis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 206, pages 15-24, October.
    5. 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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