Fiscal Sustainability

Countries are starting the climb the fiscal adjustment mountain, cutting back government deficits and debt levels, but according to our analysis, current plans often aren't enough to get countries where they need and want to go.

The need for careful design of economic policies at the national level, and coordination at the global level, may be as important today as they were at the peak of the crisis two years ago.

The crisis has forced economists and policy makers to go back to their drawing boards. Where did they go wrong, and what implications does the crisis have for both macroeconomic theory and macroeconomic policy making?

This past weekend in Washington DC, as the economic leaders of 187 countries gathered for the Annual Meetings of the IMF and World Bank, the mood was ...