Wendy Carlin

Professor of Economics
University College London

Wendy Carlin is Professor of Economics at University College London (UCL), Research Fellow of the Centre for Economic Policy Research (CEPR), London, and Fellow of the European Economic Association. She is co-managing editor of Economics of Transition. Her research focuses on macroeconomics, institutions and economic performance, and the economics of transition. She is a member of the Expert Advisory Panel of the UK’s Office for Budget Responsibility. She has acted as a consultant for international organizations such as the European Bank for Reconstruction and Development (EBRD), London, and the World Bank. She has co-authored with David Soskice two macroeconomics books: Macroeconomics and the Wage Bargain (OUP, 1990) and Macroeconomics: Imperfections, Institutions and Policies (OUP, 2006). A third book, Macroeconomics: Institutions, Instability and the Financial System, is forthcoming. She is leading an international project funded by the Institutute on undergraduate economics curriculum reform."

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After reviewing the panelists' contributions, Wendy Carlin points out that the expectations of Europe's core and Europe's periphery haven't been met. The core, notably Germany, entered the European Monetary Union with a view to the benefits of a single market. The periphery considered the EMU as a means to achieve price stability. Yet, the institutional wage bargaining that characterizes the German labor market wasn't available in the periphery, and that's one reason why inflation was low in Germany and high in the periphery, says Wendy Carlin. Real interest rates exercised a destabilizing role.

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Wendy Carlin, Professor of Economics, University College London at the panel entitled "The Future of Europe" at the Institute for New Economic Thinking's (INET) Paradigm Lost Conference in Berlin. April 13, 2012. #inetberlin

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Discussion and Q&A at the panel entitled "The Future of Europe" at the Institute for New Economic Thinking's (INET) Paradigm Lost Conference in Berlin. April 13, 2012. #inetberlin