The ECB is always calling for structural reforms. Structural reforms are always politically difficult. They are only ever implemented by politicians brave and decent enough to think beyond the next election. So we hardly ever see them. Photograph: EPA

What beliefs, if any, inform European economic policy- makers? Is there a coherent framework that drives fiscal and monetary policy? Perhaps the answe(...)

Yokohama and Mount Fuji: “Given its demography, Japan would do well to attain growth of 1-1.5 per cent a year. The country will be unable to combine economic dynamism with fiscal consolidation without a rise in consumption’s share in GDP.” Photograph: Getty Images

The predominant concern of Shinzo Abe, Japan’s prime minister, is with the decline of his country’s economy relative to China’s. This explains “Abenom(...)

Former US treasury secretary Larry Summers suggested that there could be no easy return to pre-crisis normality in high-income economies. Instead, he sketched out a disturbing future of chronically weak demand and slow economic growth.

Lawrence Summers has poured gallons of icy water on any remaining optimists. Speaking on a panel at the International Monetary Fund’s annual research (...)

Jeremy Siegel (above) is set to engage with fellow market historian Robert Shiller at a conference next month. Photograph: Bloomberg via Getty Images

A DISPUTE about a stock valuation indicator between two academics doesn’t sound like a critical matter. But, when the argument concerns two of the wor(...)

Bank of Japan governor Haruhiko Kuroda has launched a monetary policy revolution. He has ended two decades of caution, during which the bank declared itself helpless to end deflation.

Haruhiko Kuroda, the new governor of the Bank of Japan, has launched a monetary policy revolution. He has ended two decades of caution, during (...)