Jean Pissany Ferry, (2018), “The Lesser Evil for the Eurozone”, Project Syndicate, 27 Μαρτίου For three decades, the consensus within the European Commission and the European Central Bank on the need for market reforms and sound public finances has been strong enough to overcome opposition in small countries and outlast procrastination in large ones. Today, however, the eurozone playing field has become a battleground. Σχετικές Αναρτήσεις Camilo E Tovar Mora, Tania …Read More

Roel Beetsma, Simone Cima,Jacopo Cimadomo, (2018), “A minimal moral hazard central stabilisation capacity for the EMU based on world trade”, ECB Papers, No 2137 , Mάρτιος 2018 Recent debate has focused on the introduction of a central stabilisation capacity as a completing element of the Economic and Monetary Union. Its main objective would be to contribute cushioning country-specific economic shocks, especially when national fiscal stabilisers are run down. There are two main potential objections to such …Read More

Jon Danielsson, Marcela Valenzuela, Ilknur Zer, (2018), “Low risk as a predictor of financial crises”, VoxEU, 26 Μαρτίου Reliable indicators of future financial crises are important for policymakers and practitioners. While most indicators consider an observation of high volatility as a warning signal, this column argues that such an alarm comes too late, arriving only once a crisis is already under way. A better warning is provided by low volatility, …Read More

ΤΑ ΝΕΑ.gr, (2018), “Νταρβάς: Η Ελλάδα θα χρειαστεί τέταρτο πρόγραμμα οικονομικής ενίσχυσης“, 26 Μαρτίου Την άποψη ότι η Ελλάδα θα χρειαστεί ένα τέταρτο πρόγραμμα οικονομικής ενίσχυσης, τουλάχιστον προληπτικό, καθώς με αυτό θα μπορούσε να βελτιώσει καταλυτικά την εμπιστοσύνη των επενδυτών στη συνέχιση των μεταρρυθμίσεων, εκφράζει με άρθρο του στα nea.gr ο επικεφαλής οικονομολόγος του Ινστιτούτου Bruegel Ζολτ Νταρβάς. Σχετικές Αναρτήσεις Η Καθημερινή, (2018), «Ρέγκλινγκ: Ελπίζω να μην επιστρέψουν οι παλιές …Read More

Jihad Dagher,(2018),  “Regulatory cycles: Revisiting the political economy of financial crises”, Vox.eu, 22 Μαρτίου Back in early 2017, while the stock market was breaking records, the new administration in the US made promises to significantly roll back the recently implemented regulations under the Dodd-Frank Act. We have seen the move toward deregulation take shape on various fronts.  By most accounts, new regulatory appointees have signalled a shift toward a softer approach …Read More

Ferdinando Giugliano, (2018), “Europe’s `Safe Bonds’ Are Not So Safe After All”, Bloomberg, 22 Μαρτίου Call it the Holy Grail of the euro zone. Ever since the financial crisis, economists have been seeking ways to create a safe financial instrument, which banks in the single currency area can buy without having to load up on domestic sovereign bonds. Many placed their hopes in the proposal of a bundle of sovereign bonds …Read More

Νίκος Μπέλλος, (2018), “Τραπεζική ένωση και ΕΝΤ στην ατζέντα των ηγετών”, Ναυτεμπορική, 22 Μαρτίου Ανοικτή πολιτική συζήτηση για τις αλλαγές στην Ευρωζώνη, άμεσες και μελλοντικές, θα έχουν αύριο το πρωί στις Βρυξέλλες οι 19 ηγέτες των χωρών της Ευρωζώνης, ενώ σήμερα ο πρόεδρος του Εurogroup Mάριο Σεντένο θα τους ενημερώσει για την πρόοδο που έχει επιτευχθεί έως τώρα σε επίπεδο υπουργών Οικονομικών. Σχετικές Αναρτήσεις Charles Goodhart, Rosa Lastra, (2018), «Potential …Read More

Ashoka Mody, (2018), “The euro area’s deepening political divide”, Vox.eu, 21 Μαρτίου The University of Cambridge economist Nicholas Kaldor was first to warn that the euro would divide Europe (reprinted in Kaldor 1978). His critique came in March 1971 as a response to the Werner Commission Report, which presented the original blueprint of what would eventually be the euro area’s architecture (Werner 1970). Kaldor wrote that a single monetary policy …Read More

Zaki Laidi, (2018), “Is Europe Ready for a Trade War?”, Project Syndicate, 21 Μαρτίου US President Donald Trump’s long-awaited protectionist policies have finally arrived in the form of import tariffs that will impose higher costs on friends, like the European Union, than on adversaries such as China. And that outcome, however perverse, is fully in keeping with Trump’s worldview. Σχετικές Αναρτήσεις Στέλιος Μορφίδης, (2018), «USA vs Europe: Ο παγκόσμιος εμπορικός …Read More