Sinn, Hans Werner, (2012), ‘The European Banking Union?’, www.project-syndicate.org, 13 Ιουνίου. In blatant violation of the Maastricht Treaty, the European Commission has come forward with one bailout plan after another for Europe’s distressed economies. Now it wants to socialize not only government debt by introducing Eurobonds, but also banking debt by proclaiming a “banking union.”
Κουτσιαράς, Νίκος, 2012, Η εκδίκηση των δούλων και η εφεδρεία των μακαριτών: Η πολιτική οικονομία της μακροοικονομικής σταθεροποίησης, Αθήνα: Παπαζήσης. Η πασίγνωστη αποστροφή του John Maynard Keynes ηχεί ως προειδοποίηση στους ανθρώπους της πράξης – και τους πολιτικούς. «Πρακτικοί άνθρωποι που θεωρούν ότι δεν υφίστανται οποιαδήποτε πνευματική επιρροή, συνήθως, είναι οι δούλοι κάποιου μακαρίτη οικονομολόγου». Οι σύγχρονοι θεωρητικοί της μετα-Κεϋνσιαν(ιστικ)ής μακροοικονομικής εποχής θα προσυπέγραφαν, μπορεί με ενθουσιασμό, αυτήν την προειδοποίηση, …Read More
Stovicek, Klara, Turrini, Alessandro ‘Benchmarking Unemployment Benefit Systems’, European Economy Economic Papers, N. 454. This paper proposes a methodology for benchmarking unemployment benefits systems, with a view to assess reform needs and priorities. The methodology permits to assess different dimensions of unemployment benefit systems and to consider alternative relevant benchmarks. Looking at all relevant dimensions allows to better gauge how unemployment benefit systems perform in terms of their multi-faceted objectives (such as income …Read More
Eurostat (2012), Labour market developments in Europe 2012, European Economy Series, Brussels.
Tsoukalis, Loukas, (2012), ‘The Political Economy of the Crisis:The End of an Era?’, Dahrendord Symposia Series Working Paper 2012-04. Τhe crisis we are going through will shape Europe and European integration for years to come; it also risks leading Europe down the road to disintegration. The crisis of the euro is part and parcel of a much broader crisis that has resulted from the bursting of the biggest bubble in …Read More
Favero, Carlo, Missale, Alessandro, (2012),‘Sovereign spreads in the eurozone: which prospects for a Eurobond?’, Economic Policy, Vol. 27, Issue 70, p.p. 231 – 273. In this paper, we provide new evidence on the determinants of sovereign yield spreads and ‘market sentiment’ effects in the eurozone in order to evaluate the rationale for a common Eurobond jointly guaranteed by eurozone Member States. We find that default risk is the main driver …Read More
Katsikas, Dimitris, (2012), “Greece needs plans for growth, not eurozone exit”, www.publicserviceeurope.com, 23 March. The second bail-out agreement for Greece has been hailed by the political elites in Europe and the parties of the Greek governing coalition as a historic achievement that paves the way for the country’s return to normalcy. Nonetheless, as soon as it was signed, a number of analysts criticised it as insufficient and predicted that in …Read More
Cline, William, Wolf, Guntram (eds),(2012), Resolving the European Debt Crisis, Special Report 21, Peterson Institute for International Economics and Bruegel. What began as a relatively localized crisis in Greece in early 2010 soon escalated to envelop Ireland and Portugal. By the second half of 2011, the contagion had spread to the far larger economies of Italy and Spain. In mid-September the Peterson Institute and Bruegel hosted a conference designed to …Read More
Muscatelli, Vito & Piergiovanna, Natale, (2012), ‘A simple and flexible alternative to Stability and Growth Pact deficit ceilings. Is it at hand?’, European Journal of Political Economy,Volume 28, Issue 1, p.p. 14–26. We model a monetary union where fiscal discretion generates excessive debt accumulation in steady state and inefficiently delayed debt adjustment following shocks. By setting a debt target and raising the political cost of deviating from the optimal pace …Read More
IMF, (2012), Sovereign Debt Restructurings 1950-2010; Literature Survey, Data, and Stylized Facts, IMF Working Papers, Monetary and Capital Markets Department, Washington. This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt …Read More
