Reality Check for the Global Economy edited by Olivier Blanchard and Adam S. Posen published by PIIE (3/2016).
“After five years of disappointing recovery throughout the major economies, almost everyone is ready to believe the worst. Global markets have displayed the fruits of that pessimism in recent months. Many of our Peterson Institute fellows have found their assessments of economic prospects in their various areas of expertise—Europe and Latin America, the United States and China, monetary policy, o il, and global trade—simultaneously leapfrogged significantly to the downside by a majority of investors and commentators. Some of these leaps have gone signifi cantly outside of where we believe justifi able differences of opinion lie, in contravention of basic economic facts…”
