When the G20 meets in Toronto on June 23rd and 24th, it will say some predictable things. It will affirm the importance of fiscal consolidation. It will underscore its commitment to strengthening financial regulation. It will reiterate the importance of avoiding protectionism and narrowing global imbalances. Here is a plea that it also say some surprising things. First, G20 members should explain that they are committed to pursuing fiscal consolidation in ways that avoid damaging growth potential. This means limiting cuts to public investment. It means not gutting education, public support for R&D, and infrastructure spending,. Governments with serious budgetary problems have repeatedly warned that no category of spending is exempt from cuts. Well, some categories should be protected precisely… Read more
Bruegel blog
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A Comprehensive Plan for the Shadow Banking System
15th June 2011
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A Comprehensive Plan for the Shadow Banking System
15th June 2010
When the G20 meets in Toronto on June 23rd and 24th, it will say some predictable things. It will affirm the importance of fiscal consolidation. It will underscore its commitment to strengthening financial regulation. It will reiterate the importance of avoiding protectionism and narrowing global imbalances. Here is a plea that it also say some surprising things. First, G20 members should explain that they are committed to pursuing fiscal consolidation in ways that avoid damaging growth potential. This means limiting cuts to public investment. It means not gutting education, public support for R&D, and infrastructure spending,. Governments with serious budgetary problems have repeatedly warned that no category of spending is exempt from cuts. Well, some categories should be protected precisely… Read more
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A Comprehensive Plan for the Shadow Banking System
15th June 2010
When the G20 meets in Toronto on June 23rd and 24th, it will say some predictable things. It will affirm the importance of fiscal consolidation. It will underscore its commitment to strengthening financial regulation. It will reiterate the importance of avoiding protectionism and narrowing global imbalances.Here is a plea that it also say some surprising things. First, G20 members should explain that they are committed to pursuing fiscal consolidation in ways that avoid damaging growth potential. This means limiting cuts to public investment. It means not gutting education, public support for R&D, and infrastructure spending,. Governments with serious budgetary problems have repeatedly warned that no category of spending is exempt from cuts. Well, some categories should be protected precisely to… Read more
