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IMF: suitable case for reform

The IMF needs to transform itself to keep pace with the changes in the world economy, in particular the rising importance of emerging markets. But so far the US Congress has been standing in the way  
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Too late, Mario Draghi

The European Central Bank president is doing the right thing in embarking on a programme of quantitative easing, but his efforts have been frustrated by years of political paralysis Read more

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How can we better compare fiscal fundamentals?

A new dataset is throwing fresh light on old assumptions about government revenue in developing countries Read more

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Detroit: who pays for the bankruptcy?

Detroit’s bankruptcy has hit inner-city dwellers, public services and public servants disproportionately, while those living in the upscale suburbs continue to prosper. How fair is that? Read more

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Globalisation and its discontents

Globalisation has created substantial benefits, but global governance must evolve to meet the challenges posed by new systemic risks. The 2007-08 financial crisis highlighted the potential for negative economic developments to spread quickly across the world’s interconnected economies Read more

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USA: back to which schools?

OECD research shows that the gap in educational achievement of American schoolchildren is widening not narrowing. Underlying this problem is a system of growing segregation between richer and poorer families, and large differentials in school funding

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Jumpstarting the eurozone economy

The stagnating eurozone economy needs policy action. Its leaders should agree to coordinated tax cuts, extension of budget deficit targets and issuance of long-term public debt 

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Italy’s recession: new or same old?

Italy is reported to have slipped back into recession. But this is based on the criterion of two successive quarters of negative growth. There are other ways of measuring recession Read more

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Sovereign debt: can’t pay, must pay?

In the wake of Argentina’s debt default, it’s worth asking whether conventional wisdom on the subject is overly simplistic. Is it true that states must always repay their sovereign debt?
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Who’s afraid of Janet Yellen?

As Fed chairman Janet Yellen faces growing dissent, both right and left are casting her as a radical departure from her predecessors. But she is just another Bernanke who won’t upset the apple cart Read more

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