If you are experiencing problems downloading PDF or HTML fulltext, our helpdesk recommend clearing your browser cache and trying again. If you need help in clearing your cache, please click here . Still need help? Email help@ingentaconnect.com

Breaking the Reform Deadlock logo This is the sixth in a series of annual reports produced by the CEPS Macroeconomic Policy Group (MPG), composed of distinguished economists who have undertaken to carry out independent, in-depth research on current developments in the European economy. Repeating a refrain from previous years, this report emphasises two disappointing phenomena, a dismal productivity record and a persistent deterioration of fiscal policy, which continued to negatively affect Europe?s performance. True to its mission as "ECB watchers", the group also analyses at length the effectiveness of monetary policy, concentrating this time on the delays between monetary policy decisions and their impact on the economy. The main finding is that it is hard to fault the European Central Bank for the policy pursued so far. Nevertheless, hope is expressed that the ECB will be patient during the upswing that is now apparently starting in earnest to provide policy-makers in other areas with a window of opportunity to seriously pursue structural reforms.

Publisher: Centre for European Policy Studies

Related content

Buy & download fulltext book:

$30.00 plus tax (Refund Policy)

Share Content

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
X
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more