{
  "title": "Regional Economic Outlook, October 2008, Euope: Dealing with Shocks",
  "publication": "Europe, October 28, 2008",
  "sourceUrl": "https://www.imf.org/en/publications/reo/eu/issues/2017/01/07/regional-economic-outlook-october-2008-euope-dealing-with-shocks-22030",
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  "summary": "The confluence of multiple adverse shocks—the turbulence in financial markets, high commodity prices, and the appreciation of the exchange rate—have depressed growth in Europe. At the same time commodity prices increases have boosted headline inflation.",
  "publishDate": "2008-10-28",
  "series": "Europe",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- The confluence of multiple adverse shocks—the turbulence in financial markets, high commodity prices, and the appreciation of the exchange rate—have depressed growth in Europe.\n- Commodity prices increases have boosted headline inflation.\n- While containing inflation remains a major concern, supporting the recovery is likely to gain policy prominence in the advanced economies.\n- Improvements in prudential regulation could mitigate the procyclicality of credit standards, which should help reduce macroeconomic volatility.\n- Cross-border labor flows are generally seen to have beneficial macroeconomic effects."
    },
    {
      "heading": "Major shocks and macroeconomic impacts",
      "content": "- Financial markets turbulence: depressed growth across Europe (no quantitative growth figures provided on the page).\n- High commodity prices: raised headline inflation (no specific inflation rates provided on the page).\n- Exchange rate appreciation: contributed to depressed growth.\n- Interaction of shocks: simultaneous shocks have compounded downside growth pressures while lifting headline inflation."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Contain inflation: remain a major policy concern.\n- Support recovery: likely to gain policy prominence in advanced economies.\n- Prudential regulation: improvements could mitigate procyclicality of credit standards and reduce macroeconomic volatility.\n- Labor mobility: cross-border labor flows produce generally beneficial macroeconomic effects and are relevant to policy discussion.\n\n---\n\n Content in this bundle\n\n- Ereo1008 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Ereo1008r (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/reo/eu/issues/2017/01/07/regional-economic-outlook-october-2008-euope-dealing-with-shocks-22030"
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    "Published: October 28, 2008",
    "Series: Europe",
    "DOI: https://doi.org/10.5089/9781589067608.086",
    "The confluence of multiple adverse shocks—the turbulence in financial markets, high commodity prices, and the appreciation of the exchange rate—have depressed growth in Europe.",
    "Commodity prices increases have boosted headline inflation.",
    "While containing inflation remains a major concern, supporting the recovery is likely to gain policy prominence in the advanced economies.",
    "Improvements in prudential regulation could mitigate the procyclicality of credit standards, which should help reduce macroeconomic volatility.",
    "Cross-border labor flows are generally seen to have beneficial macroeconomic effects.",
    "Financial markets turbulence: depressed growth across Europe (no quantitative growth figures provided on the page).",
    "High commodity prices: raised headline inflation (no specific inflation rates provided on the page).",
    "Exchange rate appreciation: contributed to depressed growth.",
    "Interaction of shocks: simultaneous shocks have compounded downside growth pressures while lifting headline inflation.",
    "Contain inflation: remain a major policy concern.",
    "Support recovery: likely to gain policy prominence in advanced economies.",
    "Prudential regulation: improvements could mitigate procyclicality of credit standards and reduce macroeconomic volatility.",
    "Labor mobility: cross-border labor flows produce generally beneficial macroeconomic effects and are relevant to policy discussion.",
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