Democracy Over Sovereignty in Europe

15 Μαρτίου, 2017

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Reichlin, Lucrezia, (2017), “Democracy Over Sovereignty in Europe”, Project Syndicate, 14 Μαρτίου The future of the European Union may not officially be on the ballot in the upcoming elections in the Netherlands, France, Germany, and Italy, but the results will go a long way towards determining Europe’s fate. Anti-EU sentiment is more widespread than ever, as demonstrated by the feverish campaigns of right-wing populist insurgents like Geert Wilders in the Netherlands …Read More

Βιβλιοθήκη » EE » Οικονομία » Πολιτική » Άρθρα Γνώμης

Aftershocks of Monetary Unification : Hysteresis with a Financial Twist

14 Μαρτίου, 2017

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Eichengreen, Barry J., Bayoumi, Tamim, (2017), “Aftershocks of Monetary Unification : Hysteresis with a Financial Twist”, IMF, 13 Μαρτίου Once upon a time, in the 1990s, it was widely agreed that neither Europe nor the United States was an optimum currency area, although moderating this concern was the finding that it was possible to distinguish a regional core and periphery (Bayoumi and Eichengreen, 1993). Revisiting these issues, we find that …Read More

Βιβλιοθήκη » EE » Οικονομία » Εκθέσεις-Μελέτες

The Case for Fiscal Policy to Support Structural Reforms

14 Μαρτίου, 2017

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Banerji, Angana, Dabla-Norris, Era, Duval, Romain, Furceri, Davide, (2017), “The Case for Fiscal Policy to Support Structural Reforms”,IMF Direct, 13 Μαρτίου Many advanced countries need structural reforms to make their economies more productive and raise long-term living standards. Our new research shows that provided countries can afford it, fiscal policy, through spending or tax incentives, can help governments overcome some obstacles to the reforms, particularly in the early stages. Structural …Read More

Βιβλιοθήκη » EE » Οικονομία » Κείμενα Πολιτικής

Public Debt Sustainability Under Uncertainty : An Invariant Set Approach

14 Μαρτίου, 2017

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Rozenov, Rossen, (2017), “Public Debt Sustainability Under Uncertainty : An Invariant Set Approach”, IMF Working Paper, 13 Μαρτίου The question of what level of public debt a country can afford is central to fiscal policy. Vast literature is devoted to debt sustainability and an array of tools has been developed to guide assessment. A comprehensive review of previous work on the subject is beyond the scope of this paper and …Read More

Βιβλιοθήκη » EE » Οικονομία » Εκθέσεις-Μελέτες

Europe’s Bailout Misery

13 Μαρτίου, 2017

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Ashworth, Marcus, (2017), “Europe’s Bailout Misery”, Bloomberg Gadfly, 13 Μαρτίου Europe’s tale of two rescue funds is morphing into a worrying saga. The outlook for the region’s original crisis bailout vehicle, the European Financial Stability Fund, to raise sufficient long-term funds to do its job is getting trickier. Despite last week being a pretty decent one for bond issuance, the EFSF stayed on the sidelines. Meanwhile, its more-popular sister fund, the European Stability …Read More

Βιβλιοθήκη » EE » Οικονομία » Επιστημονικά Άρθρα

Υπέρμαχος της χαλαρής νομισματικής πολιτικής της ΕΚΤ ο Μάριο Ντράγκι

13 Μαρτίου, 2017

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Καρκαγιάννης, Κώστας, (2017), “Υπέρμαχος της χαλαρής νομισματικής πολιτικής της ΕΚΤ ο Μάριο Ντράγκι“, Η Καθημερινή, 12 Μαρτίου Ανυποχώρητη στάση τήρησε την Πέμπτη η Ευρωπαϊκή Κεντρική Τράπεζα απέναντι στους επικριτές της χαλαρής νομισματικής πολιτικής της, διατηρώντας τη δέσμευση να συνεχίσει τις αγορές ομολόγων τουλάχιστον έως τα τέλη του 2017 και να διατηρήσει τα επιτόκια δανεισμού σε πολύ χαμηλά επίπεδα για ακόμη μεγαλύτερο χρονικό διάστημα. Η μοναδική παραχώρηση της Φρανκφούρτης απέναντι στους …Read More

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ECB staff macroeconomic projections for the euro area

10 Μαρτίου, 2017

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European Central Bank/ECB staff macroeconomic projections for the euro area, Μάρτιος 2017 The economic recovery in the euro area is projected to firm further, at a pace slightly above previous expectations. The expected global recovery and resilient domestic demand, supported by the very accommodative monetary policy stance, past progress made in deleveraging across sectors and a continued improvement in the labour market are projected to sustain the recovery over the projection horizon. The recent oil …Read More

Βιβλιοθήκη » EE » Οικονομία » Εκθέσεις-Μελέτες

Beyond Crisis: Constitutional Change in Greece after the Memoranda

10 Μαρτίου, 2017

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Tsiftsoglou, Anna, (2017), “Beyond Crisis: Constitutional Change in Greece after the Memoranda”, LSE Hellenic Observatory, 9 Μαρτίου Can financial crises bring constitutional change? Has Greece become a prominent such example? Already 7 years into recession, crisis-hit Greece is experiencing a tremendous institutional change. This change, which takes place informally rather than formally, is affecting state institutions- primarily its parliament, the executive and courts. Everyday practice, political or otherwise, changes the …Read More

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An update: Sovereign bond holdings in the euro area – the impact of QE

10 Μαρτίου, 2017

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Huttl, Pia, Goncalves Raposo, Ines, (2017), “An update: Sovereign bond holdings in the euro area – the impact of QE”, Bruegel, 9 Μαρτίου Since the ECB’s announcement of its QE programme in January 2015, national central banks have been buying government and national agency bonds. In this post we look at the effect of QE on sectoral holdings of government bonds, updating our calculations published in May and November 2016. …Read More

Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης Επιστημονικά Άρθρα

The ECB Faces a Balance Sheet Dilemma

10 Μαρτίου, 2017

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DiMartino Booth, Danielle, (2017), “The ECB Faces a Balance Sheet Dilemma”, BloombergView, 9 Μαρτίου Nature versus nurture. That philosophical debate is more pertinent than ever when it comes to the interventionist efforts of central banks that seek to will their economies back onto a sustainable growth path. But even the noblest of intentions can bump up against limitations when nature, in this case the free functioning of financial markets, is …Read More

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