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At a glance…The World Economy


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Kirby, S, Carreras,O, Warren, J, Meaning, J, Sanchez-Martinz, M
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Macro-Economic Modelling and ForecastingJournal
National Institute Economic Review, No. 230
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Abstract:
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Following growth of 3.1 per cent in 2013, the world economy will grow by 3.3 per cent in 2014 and 3.5 per cent in 2015.
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The pace of recovery remains slow and uneven; much of the Euro Area in particular remains very depressed, and the policy response has so far been too little, too late.
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Key risks include the normalisation of monetary policy in the US, and the associated financial market turbulence; and worsening deflationary pressures in the Euro Area exacerbated by policy gridlock.
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