Buiter: Global Economy Not in Recession, but Stagnating

The video discusses the global economic outlook, highlighting the risks of a recession and the widening output gap. It emphasizes the need for fiscal policy to address investment challenges. The impact of Brexit on the UK economy is also analyzed, noting the potential for a significant slowdown as negotiations progress.

What role does fiscal policy play in the current global economic situation?

Discuss the potential consequences of a hard Brexit as mentioned in the text.