Carsten Olsson, Unit C0 John Verrinder, Unit C4

Slides:

Advertisements

Similar presentations

Best practice for ensuring quality in international statistics - The Principal Global Indicators - Werner Bier, Per Nymand-Andersen European Central Bank.

Advertisements

Annual Growth Survey macroeconomic report Brussels, 6 February 2013 Kees van Duin Policy Coordination and Strategic planning Directorate General for Economic.

Rebalancing in a low growth environment Prof. Dr. Júlia Király October 30th, 2012 PhD of economics, honorary professor, deputy governor of the Magyar Nemzeti.

1 The Global Financial Crisis: What’s Next? Bank Guarantee Fund Conference Warsaw, May 21, 2010 Mark Allen Senior IMF Resident Representative for Central.

Weak international public finances and Swedish monetary policy Deputy Governor Karolina Ekholm.

Interest Rates, ECB and Financial Markets Presented by: Paul McDaid Dominic King Iarla Davoren Conor O’Brien.

1 The need for coherent Macroeconomic Statistics Workshop on SNA and GFS Istanbul November 2013 Kurt Wass, EFTA.

WESP Update per Mid-2012 Darkening skies over the world economy New York, 7 June 2012 WESP Update per Mid-2012 Darkening skies over the world economy New.

House Price Developments in Europe

Eurostat Use of statistics for economic governance and surveillance in the European Union Macroeconomic Imbalance Procedure John Verrinder Eurostat.

Central Bank of Iceland Households and housing markets in financial crises The Icelandic version Þorvarður Tjörvi Ólafsson Economist, Central Bank of Iceland.

Macroeconomic Policy in the Eurozone: Are There Alternatives to Slow Growth and High Unemployment? Mark Weisbrot, Co-Director Center for Economic and Policy.

The U.S. economy is currently in a recession. 1.True 2.False.

Macroeconomic Policy in the Eurozone: Are There Alternatives to Slow Growth and High Unemployment? Mark Weisbrot, Co-Director Center for Economic and Policy.

C A U S E S International factors: -Increased Access to Capital at Low Interest Rates -Heavily borrow -Access to artificially cheap credit -Global finance.

Governor Stefan Ingves Introduction on monetary policy Riksdag Committee on Finance 18 September 2012.

Revision on the UK Economy AS and A2 Economics May 2009.

The role of the land market to provide financial stability in the EU markets Professor Elias Dinenis Neapolis University Pafos.

Mr. Sloan Riverside Brookfield High school.  2 Hours and 10 Minutes Long  Section 1-Multiple Choice ◦ 70 Minutes Long ◦ Worth 2/3 of the Score  Section.

Austerity in the Eurozone: It’s Not Working Mark Weisbrot Center for Economic and Policy Research

February 2009Prof. Rafi Melnick The Herzliya Conference The Economic Dimension 2009 Prof. Rafi Melnick Provost, Interdisciplinary Center (IDC) Herzliya.

Estonia Another crises country. Background and History Details of the relevant history, pertinent to its economic condition. Position of the.

Applied Macroeconomics Professor Martin Gilman CLASS # 9 30 October 2012.

A Brief Presentation of the Economic Development in Finland Director for Performance Audit Hannu Rajamäki National Audit Office of Finland Vilnius 10 June.

J.P.Morgan Chase IV ASTANA Economic Forum Astana, Kazakhstan May 3-4, 2011 S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L The Global Economy:

The Impact on Brazil of the Global Financial Crisis John Williamson Senior Fellow Peterson Institute for International Economics.

Some more theoretical background Cost-Benefit Analysis Cost-Benefit Analysis Measuring Economic Performance Measuring Economic Performance System of National.

Did we live beyond our means? Beyond common sense: true causes of the economic crisis in Portugal. EU in Crisis CEO Conference 2012 Mariana Mortágua.

Central Bank of Iceland Financial stability 2012/1 Charts.

Fiscal Policy and the Multiplier. Unemployment Economic Growth.

Central Banking in the Light of the Crisis. Outline.

The excessive imbalances procedure (EIP) Declan COSTELLO & Aurora MORDONU DG ECFIN 29 November 2011 European Commission.

LESSONS THE U.S. CAN LEARN FROM JAPAN AND THE EUROZONE Presented by A.G. Malliaris THE TRANSFORMER ASSOCIATION SPRING MEETING Chicago, May 1, 2013.

Angola: Perspectives on the Financial Crisis

GREAT RECESSION OF GREAT RECESSION OF 2008.

Macroeconomic Issues The Great Recession: GDP begins to drop Shaded area = recession.

The Levy Economics Institute of Bard College 1 GLOBAL IMBALANCES: The U.S. and the Rest of the World THE LEVY ECONOMICS INSTITUTE OF BARD COLLEGE.

Economic Outlook Dr. Don Schunk Research Economist BB&T Center for Economic & Community Development Coastal Carolina University Presented to the Government.

Pedro Bastos September, Disappointment with Brazil given recent economic performance… GDP Growth Source: HSBC Global Asset Management – Brazil/

THE EURO AND THE PROCESS OF DELEVERAGING IN THE EUROZONE Presented by A.G. Malliaris SOCIETY FOR POLICY MODELING Allied Social Science Associations Annual.

Eurostat Financial accounts ESTP course - MIP Luxembourg 1-3 December 2015 Sheldon Warton-Woods Eurostat C-1.

July 2010 Regular Economic Report CROATIA Supporting Recovery.

Governor Stefan Ingves 15 March 2012 Financial stability from a consumer perspective Riksdag Committee on Finance.

Macroeconomic Framework Long-Run Economic Behavior  Potential GDP : trend GDP  Determined by productivity & normal trend in hours worked  Factors.

The current financial and economic crisis: Statistical initiatives of the E(S)CB Daniela Schackis European Central Bank – DG Statistics OECD Short-Term.

1. The Case of Finland and the EMU: stabilizing a small economy Reykjavik 2 April 2009 Ilkka Mytty Financial Counselor.

Type author names here © Oxford University Press, All rights reserved. Economics of Monetary Union 10e Chapter 11: The Euro and Financial Markets.

Rethinking Public Debt and Fiscal Policy Guillermo Calvo Columbia University

Economic Background: Short Term and Long Term Issues January 29, 2009 Russell Fehr City Treasurer.

Challenge the future Delft University of Technology Global trends on housing markets and housing policies Peter Boelhouwer.

Fraser of Allander Institute

Lost Decade in Japan Lost Decade (失われた10年, Ushinawareta Jūnen)

The Phases of the Russian Banking System Developments

Italy: emerging from the crisis

Global Economic Crisis: What Can Small Open Economies Do?

Centre and States Combined

Macroeconomic Support Unit Europe Aid

17 October 2016 by Sigrid Brevik Wangsness

Outlook for UK economy March 2017

MANAGING THE FINANCIAL CRISIS

By Lewis Dijkstra Deputy Head of Unit

Budget speech 2010 Economic outlook Presentation to Debswana – Jwaneng February 24, 2010 Bogolo Kenewendo Econsult Botswana.

Users’ needs and practices

European Debt Crisis Arturo Peguero Pei-ling Liu Nilar Thein.

Economic crisis & private sector.

The Macroeconomic Imbalances Procedure - brief overview

A Brief Presentation of the Economic Development in Finland

Users’ needs and practices

The Great Recession: GDP begins to drop

Executive Secretary of the UN Economic Commission for Europe

Presentation transcript:

Carsten Olsson, Unit C0 John Verrinder, Unit C4 The impact of the financial crisis or An economic and financial crisis in figures Carsten Olsson, Unit C0 John Verrinder, Unit C4

Latest news…

Background to the Financial Crisis Start in 2007 (US – Europe – worldwide) Debate on the main causes, but financial deregulation and asset bubbles commonly mentioned. Two main phases: 2007 to 2009: “Private” credit crisis 2010 to 2011…: “Public” credit crisis (government debt) Ongoing impacts on real economy GDP, unemployment

Policy responses Measures to address the crisis in financial markets Bank rescues Central Bank intervention Fiscal stimulus followed by austerity measures Partly the consequence of recession, but also policy. European Economic Governance European Systemic Risk Board Commission proposal of September 2010 Greater role for government debt; macroeconomic imbalances

The role of government…

Statistical issues Main conclusion is that statistics were not a cause of the financial crisis ! But the way in which statistics were used (“joining the dots”) could have been better… Main issues being addressed: More data on financial sector, especially linkages More emphasis on real estate prices (project underway) More data considered when analysing public finances

Some key indicators – GDP (seasonally adjusted)

Some key indicators - Unemployment

Some key indicators – Household net borrowing (loans)

Some key indicators – government debt

Conclusions Major economic and financial crisis Future improvements in: Policymaking (European economic governance…) Statistics (coverage of financial sector; timeliness) Statistics are highly relevant…!