by Joseph Joyce
The Search for an Effective Macro Policy
Economic growth in the advanced economies seems stalled. This summer, the IMF projected increases in GDP in these economies of 1.8% for both 2016 and 2017. This included growth of 2.2% this year in the U.S. and 2.5% in 2017, 1.6% and 1.4% in the eurozone in 2016 and 2017 respectively, and 0.3% and 0.1% respectively in Japan. U.S. Treasury Secretary Jack Lew has called on the Group of 20 countries to use all available tools to raise growth, as has the IMF’s Managing Director Christine Lagarde. So why aren’t the....More>>>