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An Unemployment Insurance Scheme for the Euro Area? A Comparison of Different Alternatives using Micro Data

Dolls, M., Fuest, C., Neumann, D. & Peichl, A. (2014) “An Unemployment Insurance Scheme for the Euro Area? A Comparison of Different Alternatives using Micro Data“, Centre for European Economic Research (ZEW), Discussion Paper No. 14-095, 28 October.   Abstract: We analyze different alternatives how a common unemployment insurance system for the euro area (EA) could be designed and assess their effectiveness to act as an insurance device in the …Read More

Quantitative Easing for the People

Muellbauer, J. (2014) “Quantitative Easing for the People“, Project Syndicate, 05 November.   It is now a near certainty that, by the end of this year, falling energy and commodity prices will push annual inflation in the Eurozone below zero – well under the European Central Bank’s target of near 2%. Rather than continue to allow misguided conventional thinking, centered on German economic ideology, to impede effective action, the ECB …Read More

What if Britain left the EU?

Michael White, Larry Elliott & Charlotte Higgins: “What if Britain left the EU?“, The Guardian, 04 November 2014.   Budget rows, referendum pledges, Ukip on the rise … is Britain heading for an EU exit? It would certainly be a messy divorce after 44 years. But what would it mean for our politics, prosperity and cultural life? Politics: How would Europe regard Britain’s retreat? With disappointment and anger In a …Read More

What’s Bad for Germany Could Be Good for Europe

The Editors (2014) “What’s Bad for Germany Could Be Good for Europe“, Bloomberg View, 04 November.   Even those familiar with Europe’s plight will find the latest economic forecasts grim reading. You thought the outlook for the euro area was bad already. It’s getting worse, says the European Commission. That said, Europe works in mysterious ways. In this deepening pessimism, there might just be grounds for optimism. The projections make …Read More

Monetary policy and long-term trend

Goodhart, Α.Ε. C. & Erfurth, P. (2014) “Monetary policy and long-term trend“, VoxEU Organisation, 03 November.   There has been a long-term downward trend in labour’s share of national income, depressing both demand and inflation, and thus prompting ever more expansionary monetary policies. This column argues that, while understandable in a short-term business cycle context, this has exacerbated longer-term trends, increasing inequality and financial distortions. Perhaps the most fundamental problem has …Read More

The effect of immigration on public finances

Preston, Ι. (2014) “The effect of immigration on public finances“, VoxEU Organisation, 05 November.   Data on social attitudes show that the perceived burden of immigration on a nation’s public finances is one of the strongest economic concerns associated with hostility to immigration. Yet recent official reports suggest an important positive role for immigration in the long-run health of public finances. This column argues that there can be no general …Read More

A Crazy Idea About Italy

O’Neill, J. (2014) “A Crazy Idea About Italy“, Bloomberg View, 05 Νοεμβρίου.   I’ve spent a good deal of my 35 years as an economic and financial analyst puzzling over Italy. Studying its economy was my first assignment in this business — as a matter of fact, Italy was the first foreign country I ever flew to. I’m just back from a vacation in Puglia and Basilicata. Over the decades, …Read More

ECB Needs Japanese Lessons

Gilbert, Μ. (2014) “ECB Needs Japanese Lessons“, Bloomberg View, 05 November.   Economists like to warn about Japanification, the risk that a country will follow the desultory experience of Japan, which slumped into deflation in 1999 and for all intents never climbed out. As Europe slides closer to deflation, the European Central Bank should heed the historical experience and the current efforts by the Bank of Japan to resuscitate growth. …Read More

Five minutes with Robert O. Keohane: “We shouldn’t fool ourselves by believing that global governance will soon be made democratic”

Interview with R. Keohane (2014) Five minutes with Robert O. Keohane: “We shouldn’t fool ourselves by believing that global governance will soon be made democratic”, LSE EUROPP, 05 November.   Can global governance through organisations such as the United Nations and the World Trade Organization ever be made properly democratic? In an interview with EUROPP’s editor Stuart Brown, Robert O. Keohane discusses the problems with establishing global democratic governance, the …Read More

EU migration – a deliverable proposal for reform

“EU migration – a deliverable proposal for reform“, Open Europe Blog, 03 November 2014.   As we already noted here, today we published a new pamphlet by Professor Damian Chalmers of the LSE and our Research Director Stephen Booth. The basic question the authors ask is, in the current political climate, how in the world can we ‘save’ EU free movement? As we’ve stated repeatedly, Open Europe thinks that the …Read More