This site is for archive purposes. Please visit www.eliamep.gr for latest updates
Go to Top

Βιβλιοθήκη

High frequency trading and fragility

Cespa, Giovanni, Vives, Xavier, (2017), “High frequency trading and fragility”, ECB Working Paper Series No 2020, Φεβρουάριος We show that limited dealer participation in the market, coupled with an informational friction resulting from high frequency trading, can induce demand for liquidity to be upward sloping and strategic complementarities in traders’ liquidity consumption decisions: traders demand more liquidity when the market becomes less liquid, which in turn makes the market more illiquid, …Read More

The impact of constrained monetary policy on the fiscal multipliers on output and inflation

Bletzinger, Tilman, Lalik, Magdlena, (2017), “The impact of constrained monetary policy on the fiscal multipliers on output and inflation”, ECB Working Paper Series No 2019, Φεβρουάριος As a consequence of rising debt-to-GDP ratios in several euro area member states, the euro area as a whole is going through a period of significant fiscal consolidation. At the same time it observes a prolonged period of low inflation combined with a binding zero …Read More

Feasibility and Added Value of a European Unemployment Benefits Scheme

Beblavy, Miroslav, (2017), “Feasibility and Added Value of a European Unemployment Benefits Scheme”, CEPS, 10 Φεβρουαρίου This CEPS e-Book presents the final report of a comprehensive project on the Feasibility and Added Value of a European Unemployment Benefits Scheme, initiated by the European Parliament and commissioned by the European Commission, Directorate-General for Employment, Social Affairs and Inclusion. The aim of the study is to assess the legal and operational feasibility …Read More

Interactions between fiscal multipliers and sovereign risk premium during fiscal consolidation: model based assessment for the euro area

Lalik, Magdalena, (2017), “Interactions between fiscal multipliers and sovereign risk premium during fiscal consolidation: model based assessment for the euro area”, ECB Working Paper Series No 2016, Φεβρουάριος The paper presents a model-based assessment of fiscal multipliers operating in the euro area during the period 2011-2014. The assessment is conditional on two distinct reactions of the sovereign risk premium (either responding endogenously to fiscal shocks or being an exogenous process) …Read More

Does growth lead to inequality? It depends.

Causa, Orsetta, Hermansen, Mikkel, Ruiz, Nicolas, (2017), “Does growth lead to inequality? It depends.”, Structural Surveillance Division, OECD Economics Department, 10 Ιανουαρίου Widespread increases in inequality over the past three decades have raised the question of whether growth in itself is a driver of income inequality. Considering that correlation often tells little about causation, this question is less trivial than may appear at first glance. Indeed, the concomitant rise in …Read More

Bank Lending Constraints in the Euro Area

Monteiro, Daniel P., Priftis, Romanos, (2017), “Bank Lending Constraints in the Euro Area”, European Commission Discussion Paper 043, 6 Φεβρουαρίου This paper constructs stylized scenarios to assess the lending constraints faced by the banking sectors of euro area Member States arising from a combination of low profitability, adverse bank equity markets and the phase in of new capital requirements. In this connection, it also presents a comprehensive review of the potential sources …Read More

The Inclusive Growth and Development Report 2017

World Economic Forum, (2017), “The Inclusive Growth and Development Report 2017”, Ιανουάριος Over the past several years, a worldwide consensus has emerged on the need for a more socially-inclusive approach to generating economic growth. However, inclusive growth and development remain primarily an aspiration. No systemic framework has emerged to guide policy and practice. Building on a beta version of a policy framework released in 2015, this Report provides a practical guide for policymakers and stakeholders seeking to …Read More

The Global Wealth Report 2016

Credit Suisse, (2016), “The Global Wealth Report 2016”, Research Institute, Νοέμβριος The seventh edition of the Credit Suisse Research Institute’s Global Wealth Report confirms a course of the weak global wealth growth. In the past 12 months, global wealth has risen by 3.5 trillion dollars to 256 trillion dollars, which represents an increase of 1.4 percent. However, wealth creation has merely kept pace with population growth. As a result, in 2016, …Read More

World Economic Outlook Update – January 2017

International Monetary Fund, (2017), “World Economic Outlook Update – January 2017”, International Monetary Fund, Ιανουάριος After a lackluster outturn in 2016, economic activity is projected to pick up pace in 2017 and 2018, especially in emerging market and developing economies. However, there is a wide dispersion of possible outcomes around the projections, given uncertainty surrounding the policy stance of the incoming U.S. administration and its global ramifications. The assumptions underpinning …Read More

European Business Cycle Indicators 4th Quarter 2016

European Commission, (2017), “European Business Cycle Indicators 4th Quarter 2016”, European Commission Publications, Ιανουάριος 2017 The latest EU-wide Investment Survey was conducted in October-November 2016. The results indicate that euro-area and EU real manufacturing investment has risen in 2016 (by 1.2% and 3.1%, respectively) and is foreseen to increase further in 2017 (at rates of 2.4% and 2.7%, respectively). At country level, manufacturing managers assessed their investment in 2016 to have …Read More