France’s president Emmanuel Macron. Photograph: Jasper Juinen/Bloomberg

The recent Great Recession had very serious implications for the public finances of the euro area. The combined government deficits of the euro area s(...)

Pluses and minuses of inflation: in 1975 and 1981, the inflation rate in Ireland was over 20 per cent.    Photograph: Miguel Medina/AFP/Getty

Inflation has gone out of fashion in Ireland as the price level today is the same as it was in 2008. Looking at the last nine years, we saw a fall in (...)

Olivier Blanchard, former chief economist at the IMF, is among the economists who disagree with a lot of recent commentary, and say that “we share a conviction that public discussion of the global economic outlook has run off the rails”. Photograph: Ibrahim Usta/AP Photo

Just about everyone has bought into the idea that we live in a low-growth world. The European Central Bank’s economic worries have prompted more cuts (...)

We are likely to hear this week who will replace Patrick Honohan as governor of the Central Bank.

We are likely to hear this week who will replace Patrick Honohan as governor of the Central Bank. But what type of governor are we looking for? (...)

 Olivier Blanchard, the recently retired chief economist of the IMF, believed it was an erroneous to assume that, under EMU, it would be easy to finance a current account deficit through foreign borrowing, given the absence of exchange rate risk

In Ireland since the second World War, major deficits on the current account of the balance of payments have generally been associated with periods of(...)

European Central Bank president Mario Draghi: the ECB fire brigade was late arriving to do “whatever it takes” in 2012 and, again, to take action to move the rate of inflation back towards its target of 2 per cent. Nonetheless, the ECB did take action. Photograph: Emmanuel Dunand/AFP/Getty Images

When the Economic and Monetary Union (EMU) was set up, a lot of work went into specifying the governance and objectives of the European Central Bank ((...)

The outbreak of the first World War was, we are told, greeted with confidence and jubilation by the peoples of Europe. Something similar seems to be h(...)

Greece’s prime minister Alexis Tsipras: the ECB research comes at a time of heightened tension between Greece and its international creditors, with the government rebelling against attempts to reshape its economy. Photograph: Virginia Mayo/EPA

Economists at the European Central Bank have claimed that government austerity works, saying policies of the sort imposed by the troika on weaker euro(...)

Oliver Blanchard was behind many of the IMF’s policy shifts in recent years in response to lessons from the crisis

The International Monetary Fund has said its chief economist Olivier Blanchard is retiring from the IMF, and the search for his replacement would begi(...)

Brent crude oil prices fell towards $48 a barrel on Tuesday after the International Monetary Fund cut its forecast for global economic growth in 2015 (...)

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