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Home Events Events The Importance of Macroeconomic Policy for Europe and the World Economy

October 12, 2013

Is the European Recovery Finally Under Way? And When Will Europe Return to Normal Levels of Employment? The Importance of Macroeconomic Policy for Europe and the World Economy

4:00 p.m. - 5:30 p.m.
World Bank
1850 I Street, NW
Room I 2-210
Washington, D.C. 20037

The Eurozone has officially exited its longest recession, but many worries remain. A change in ECB policy last autumn – which effectively put a ceiling on interest rates for Spanish and Italian bonds – drastically reduced the threat of a financial meltdown. But austerity has continued to hold back the region's recovery, unemployment remains at record highs, and the long-term prospects for both a generation of workers and the potential output of the economy continues to diminish. This panel looked at what needs to be done to ensure that last quarter's growth was not another false start, and most importantly to reduce mass unemployment.

Panelists included CEPR Co-Director Mark Weisbrot and Prakash Loungani, advisor for IMF's Research Department. The panel was chaired by Aldo Caliari, director of the Rethinking Bretton Woods Project, Center of Concern. The conference schedule is listed here.

Mark's presentation (pptx)

Prakash's presentation (pptx)

Click here to view notes from the discussion, courtesy of the Bretton Woods Project.

 

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