"Anemic growth is my baseline scenario," he says.
"Our baseline scenario remains one of ongoing growth, but risks are clearly on the downside," he said.
(James Kwak elaborates on this point on Baseline Scenario, the blog we run together).
"The staff's baseline scenario envisages modest adjustment, weak growth and continuing unsustainable imbalances".
(Baseline Scenario, Project Syndicate)You thought the banks were doing ok?
In a baseline scenario in which the UK remains in the EU, growth would be expected to recover in late 2016, as the effects of the referendum waned.
"Overall, the stress test identified a capital shortfall across the four participating banks of €4.4bn under the baseline scenario and €14.4bn under the adverse scenario," the ECB said.
Compared to the baseline scenario without a carbon tax, low-carbon energy sources like wind and nuclear power become a much larger part of the power mix.
The documents admit that under the baseline scenario "significant concessions" are necessary to improve Greece's chances of ridding itself permanently of its debt financing woes.
21678; corn; baseline scenario.
The first step was the creation of a baseline scenario.
