Is the EU fiscal rules reform going in the right direction?
Reviewing the European Commission’s proposal for reforming the Stability and Growth Pact.
On 9 November, the European Commission presented its long-awaited proposal for a reformed EU economic governance framework. The proposal intends to focus on medium-term risks to debt sustainability and to allow flexibility to boost growth and investments and move away from yearly micro-management of unobservable public finance variables. Maria Demertzis invites Jeromin Zettelmeyer, Grégory Claeys and Zsolt Darvas to share their views on the reform proposal.
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Real effective exchange rates for 178 countries
Using alternative data sources for exchange rates and consumer prices, we calculate REER for 177 countries monthly and 178 countries annually