Five years have passed since Japan’s Prime Minister Shinzō Abe was elected in 2012 and started “Abenomics”, a macroeconomic package based upon the “three arrows” of monetary easing, fiscal stimulus and structural reforms. After five years, has Abenomics worked? We review recent opinions.
The recent IMF’s External Sector Report highlighted the persistence of imbalances and a switch of imbalances towards advanced economies. We review recent contributions on this topic.
This Working Paper assesses various explanations for the EU’s increased current account surpluses.
Bruegel scholar Zsolt Darvas explains the pressure on Germany to lift internal demand on the day that the European Commission will present its report on EU imbalances. He explains how Germany’s current account surplus is the largest in the world. Reducing this imbalance by boosting domestic demand requires Berlin to take measures that will increase […]