Can US policy choices explain economic divergence?
NIESR’s Ahmet Kaya finds US fiscal stimulus may have masked standard economic relationships
The divergence in economic performance among advanced economies since the onset of the Covid-19 pandemic has become increasingly evident, with the US notably outperforming its peers. As of the end of the first quarter of this year, the cumulative growth rates in the US since the start of the pandemic have reached 9%. For comparison, this figure is 3.6% in Japan, 3.3% in the Euro Area, and only 1.5% in the UK (figure 1).
!function(e,n,i,s){var d="InfogramEmbeds";var o=e.getElementsByTagName(n)[0]Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Macroeconomics
Central bankers warn of US election risks
Danger of tariffs and supply chain disruptions, Central Banking Summer Meetings hear
Global natural rates could be rising, SNB governor says
Jordan says Swiss central bank’s approach allows it to deal with uncertainty over r*
Acemoglu questions productivity benefits of AI
MIT economist finds weak productivity gains from AI and says benefits may be undermined by costs
Twenty years on, Visegrád states are converging to rest of the EU
Czech Republic, Hungary, Poland and Slovakia have undergone economic transformation, CNB finds
Hungarian minister calls central bank ‘unco-operative’
MNB’s critique of government strategy draws official’s rebuke
Profit inflation and monetary policy: weighing the evidence
Biagio Bossone says profit inflation needs monetary ‘fuel’ to rise – but fiscal policy is the best fix, should governments have the ‘guts’
US news has a large impact on global bond yields – research
Bank of Canada research finds US news affects expectations in other countries
Generative AI’s impact on inflation unclear – BIS study
Inflation could worsen if people anticipate jump in productivity, authors say
Most read
- BoE reserves framework drawn into political arena
- How the Czech National Bank brought inflation down from 18% to 2% in two years
- ECB appoints three senior officials to supervisory board