structural reforms

Central Banks are using all tools available

Using all available instruments: does this ring a bell?

J. L. Martínez Campuzano (Spanish Banking Association) | Perhaps one of the most important conclusions of the G20 meeting held in China was the need for monetary and fiscal instruments to fuel demand. But also for reforms to adjust supply and increase growth potential. There is no doubt that every instrument of economic policy is needed in the fight against weak growth and low inflation.


What structural reforms?

PARIS | April 15, 2015 | By Francesco SaracenoI am ready to bet that the latest IMF World Economic Outlook, that was presented [on Tuesday]  in Washington, will make a certain buzz for a box. It is box 3.5, at page 36 of chapter 3, which has been available on the website for a few days now. In that box, the IMF staff presents evidence on the relationship between structural reforms and total factor productivity, the proxy for long term growth and competitiveness. (Interestingly enough people at the IMF tend to put their most controversial findings in boxes, as if they wanted to bind them).

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The myth of lower wages and job creation

MADRID | By Luis Arroyo | Lower salaries do not always bring more employment. This is a myth. The liberalisation of the labour market is altogether another matter, and in some Eurozone countries–as Spain–we are still waiting for it to be implemented.