Greater use of industrial policies is the price to be paid for a reduction of macroeconomic imbalances.

First, stronger eurozone wide supervision should reinforce financial integration, mitigate macroeconomic imbalances, and improve the conduct of monetary policy.

It would be essential that the assessments of macroeconomic imbalances and recommendations for corrective action be given broad publicity at all stages of the surveillance process .

The expectation of an economic recovery was supported by the absence of any major macroeconomic imbalances in the euro area which could require a lengthy adjustment process .

The system of economic governance that we put in place guarantees that EU members put their public finances in order, increase their competitiveness, and tackle their macroeconomic imbalances.

Moreover , all countries should avoid fiscal policies that feed macroeconomic imbalances . This would allow euro area countries to prepare themselves for less favourable economic conditions .

Given the currency board arrangement and the limitations of alternative counter cyclical policy instruments , it may be difficult to prevent macroeconomic imbalances , including high rates of inflation , from building up again .

In Praise of Global Imbalances

Apart from the uncertainty in financial markets , the persistence of major macroeconomic imbalances outside the euro area also continued to weigh on the climate of uncertainty prevailing in the euro area and the world in general .

Austria showed a re emerging fiscal imbalance in 2002 .

The imbalances only worsened.

The troika badly misjudged the macroeconomic effects of the program that they imposed.

Despite this expectation , the precise pattern of the economic upswing remained uncertain , not least in the context of substantially increasing oil prices and the macroeconomic imbalances elsewhere in the world .

2002 was primarily Macroeconomic indicators for Denmark ( annual percentage changes , unless otherwise indicated )

resilient than anticipated , but that macroeconomic fundamentals remain sound in the absence of any significant imbalances .

It is applied in accordance with very different criteria.

The system includes the main macro economic aggregates and the financial and non financial accounts by institutional sector .

Imbalances persisted throughout 2003 .

Given the limited room for manoeuvre for monetary policy under the currency board arrangement , it is imperative that other policy areas provide the economy with the wherewithal to cope with country specific shocks and to avoid the reoccurrence of macroeconomic imbalances .

Incoming macroeconomic data continue to point to moderate but ongoing real GDP growth .

Incoming macroeconomic data continue to point to moderate but ongoing real GDP growth .

Incoming macroeconomic data point to moderating but ongoing real GDP growth .

Since early 1999 , macroeconomic models at the ECB have undergone substantial further development .

In truth, racism and xenophobia are two mortal enemies in any free and democratic society.

Second , an investigation was carried out on the possible use of macroeconomic data in the supervisory process and the links between macroeconomic developments and fragility in banking systems as a whole and at the level of individual institutions . Third , the most recent developments in industry practice for bad and doubtful loans with particular focus on the new approaches based on statistical methods were examined with a view to assessing the main prudential supervisory implications .

Those imbalances will remain until China completes its market transition.

Yes, by our standards, China s imbalances are unstable and unsustainable. 160

Some countries still report significant imbalances , while others maintain sound fiscal positions .

Each entered the financial crisis with huge current account imbalances.

But the growth returns have dwindled, while imbalances have worsened.

3.2 The use of macroeconomic data in the supervisory process As a follow up to the work on supervisory early warning systems carried out in 1996 ( see the EMI 's Annual Report 1996 ) , an investigation was carried out on the possible use of macroeconomic data in the supervisory process and the links between macroeconomic developments and fragility in the banking systems both as a whole and at the level of individual institutions .

Optimists say that the good news about African structural transformation has not yet shown up in macroeconomic data.

As well as unbalanced budgets , high levels of government debt can also be detrimental .

A number of channels may be discerned via which macroeconomic effects on these Asian economies may be transmitted .

The government now stresses three macroeconomic goals job creation, price stability, and GDP growth.

In addition , concerns remain about the persistence of global imbalances .

These are not the sort of imbalances to which the world s policymakers should aspire.

Are they to accelerate all the imbalances which may thus accelerate the risk of war?

The second focuses on the statistical comparability of key macroeconomic indicators for the euro area , the United States and Japan .

Macroeconomic data from the United States improved blue chip companies in advanced economies remained highly profitable

The third article reviews the prospects for global real and financial imbalances . back to top

It is now indispensable for Greece to take effective action to correct its severe fiscal imbalances .

There is no justification for delaying structural fiscal consolidation in countries with remaining fiscal imbalances .

Indeed, almost every period of globalization and prosperity has been accompanied by symbiotic imbalances.

The adverse effects of financial repression in China are reflected primarily in its economic imbalances.