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Is there a path to political union?

Merler, S., (2013), “Is there a path to political union?”, Bruegel, 23 Σεπτεμβρίου. Over the last few months and ahead of much anticipated European elections in May 2014, there has been a growing debate about the scope for further integration and leaps towards a form of «political union». Advocates point to the hard constraints that an incomplete political integration has imposed on the management and the resolution of the euro …Read More

Europe’s Japan?

Fubini, F., (2013), “Europe’s Japan?”, Project Syndicate, 20 Σεπτεμβρίου. Since the global economic crisis began in 2008, Italy’s GDP has declined by about 8%, nearly a million workers have lost their jobs, and real wages have come under increasing pressure. In southern Italy today, a young person – especially a woman – on a permanent work contract, being paid on time and in full, is a statistical oddity. And yet, …Read More

The Pain In Spain Is Not Hard To Explain

Krugman, P., (2013), “The Pain In Spain Is Not Hard To Explain”, The New York Times, The Opinion Pages, 22 Σεπτεμβρίου. Via Philip Lane, the WSJ reports that the European Commission is reconsidering its methods for estimating potential output for Spain and other countries. And high time too.   Σχετικές Αναρτήσεις Hugh, E., (2013), “Spain – The Recession May Be Ending But The Crisis Continues”, www.EconoMonitor.com, 9 Σεπτεμβρίου. Darvas, Z., (2013), …Read More

Boom, Bust, Recovery: Forensics of the Latvia Crisis

Blanchard, O., Griffiths, M. and Gruss, B., (2013), “Boom, Bust, Recovery: Forensics of the Latvia Crisis”, Final Conference Draft, Fall 2013 Brookings Panel on Economic Activity, 19-20 Σεπτεμβρίου. Latvia is a small country, with a population of only 2 million. Yet, it has been an object of intense attention during the crisis. Against the recommendations of many economists, it decided to maintain its peg and adjust through internal devaluation and …Read More

A social dimension for the EMU: why and how?

Fernandes, S. and Maslauskaite, K., (2013), “A social dimension for the EMU: why and how?”, Notre Europe Jacques Delors Institute, Policy Paper 98, Σεπτέμβριος. The debate on a social dimension for the Economic and Monetary Union (EMU) is not a new one, yet social considerations have been put on the top of the European political agenda again in the context of deep economic recession and of the reform of EMU’s …Read More

What borders for the EU: a variable geometry neighbourhood?

Drevet, J-F., (2013), «What borders for the EU: a variable geometry neighbourhood?», Notre Europe Jacques Delors Institute, Policy Paper 97, Σεπτέμβριος In this Policy Paper, Jean-François Drevet wonders about the limits of the EU and its integration and neighborhood policy. He shows that the Europe of “concentric circles” evoked by Jacques Delorshas become an undisputable fact. The author first gives an account of the integration and enlargments logics, and hence, of a …Read More

European Best Performers in Times of Crisis

De Molli, V., (2013), «European Best Performers in Times of Crisis», EconoMonitor, 18 Σεπτεμβρίου. In the context of the current financial and economic crisis, The European House – Ambrosetti decided to analyse the economic performance of European countries in the last 10 years in order to comprehend the most resilient countries during the crisis (2008-2012) The study outlines common features, strategies and political choices that have contributed to achieve positive …Read More

The future of Europe’s economy: Disaster or deliverance?

Whyte, P. and Tilford, S. eds., (2013), The future of Europe’s economy: Disaster or deliverance?, Center for European Reform, 18 Σεπτεμβρίου. The CER invited four leading economists to predict what the European economy will look like in 2020. Their answers differ sharply. Paul De Grauwe fears for the future because the eurozone’s creditor countries have succeeded in loading nearly all of the cost of eurozone adjustment onto the debtor nations. …Read More

-15% to +4%: Taylor-rule interest rates for euro area countries

Darvas, Z. and Merler, S., (2013), “-15% to +4%: Taylor-rule interest rates for euro area countries”, Bruegel, 18 Σεπτεμβρίου. Does one size fit all? Before the crisis, there was a major debate on whether the single interest rate set by the European Central Bank (ECB) would be suitable for all members of the euro area, which have diverse economic conditions. The debate became quieter since the euro-crisis, as there is …Read More

Reassessing the Role and Modalities of Fiscal Policy in Advanced Economies

IMF, (2013), “Reassessing the Role and Modalities of Fiscal Policy in Advanced Economies”, IMF Policy Paper, 17 Σεπτεμβρίου. This paper investigates how developments during and after the 2008–09 crisis have changed economists’ and policymakers’ views on: (i) fiscal risks and fiscal sustainability; (ii) the effectiveness of fiscal policy as a countercyclical tool; (iii) the appropriate design of fiscal adjustment programs; and (iv) the role of fiscal institutions. Advanced economies have …Read More

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