Acemoglu, Daron, Üçer, Murat, (2015), “Why Turkish growth ended: An institutional perspective”, Voxeu, 18 Νοεμβρίου Following an anaemic performance with severe imbalances in the 1990s and a debilitating financial crisis in 2001, Turkey enjoyed a period of rapid economic growth. Since about 2007 onwards, however, economic growth has slowed significantly and productivity growth has stagnated. This column argues that, rather than providing another example of the ‘stop-and-go’ cycles typical of emerging economies, the …Read More
The IMF’s analysis of the Irish bailout
Vox editor’s, “The IMF’s analysis of the Irish bailout”, Voxeu, 17 Νοέμβρη The IMF, together with CEPR and the Central Bank of Ireland, put on a conference that drew lessons from Ireland’s bailout package titled “Ireland: Lessons from its Recovery from the Bank-Sovereign Loop”. This column summarises the contributions by Eichengreen, Fatás and Schoenmaker, as well as panel comments by Christine Lagarde, Benoît Coeuré, Michael Noonan, and Valdis Dombrovskis. Σχετικές …Read More
Youth Unemployment and Active Labor Market Policies in Europe
Caliendo, Marco, Schmidl, Ricarda, (2015), “Youth Unemployment and Active Labor Market Policies in Europe”, IZA, Νοέμβριος. Since the economic crisis in 2008, European youth unemployment rates have been persistently high at around 20% on average. The majority of European countries spends significant resources each year on active labor market programs (ALMP) with the aim of improving the integration prospects of struggling youths. Among the most common programs used are training courses, job search …Read More
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Economic Uncertainty and Structural Reforms
Bonfiglioli, Alessandra, Gancia, Gino A, (2015), “Economic Uncertainty and Structural Reforms”,Centre for Economic Policy Research, Νοέμβριος. Does economic uncertainty promote the implementation of structural reforms? We answer this question using one of the most exhaustive cross-country panel data set on reforms in six major areas and measuring economic uncertainty with stock market volatility. To address endogeneity concerns, we propose various identification strategies, instrumenting uncertainty with world shocks to volatility and with natural disasters, …Read More
Alternative measures of government indebtedness
Dias, Daniel A., Wright, Mark L. J., (2015), “Alternative measures of government indebtedness”,Voxeu, 13 Νοεμβρίου. Measured as a percentage of its GDP, Greece’s debt is higher than that of Portugal and Ireland. This column discusses a range of new techniques for measuring the debts of Greece, Ireland, and Portugal. It argues that plausible alternative measures of indebtedness suggest that Greece is anywhere from as much as 50% more indebted than Portugal and …Read More
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The limitations of policy coordination in the euro area under the European Semester
Darvas, Zsolt, Leandro, Álvaro, (2015), “The limitations of policy coordination in the euro area under the European Semester”, Bruegel Publications, Issue 19, 12 Νοεμβρίου. This paper assesses economic policy coordination in the euro area under the European Semester. In sections 2 and 3, we make a positive (and not normative) assessment by taking Council recommendations made in the context of the European Semester as given and evaluating their implementation and consistency, without assessing …Read More
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Is globalisation reducing the ability of central banks to control inflation?
Claeys, Grégory, Wolff, Guntram B., (2015), “Is globalisation reducing the ability of central banks to control inflation?”, Bruegel Publlications, Issue 18, 12 Νοεμβρίου. After soaring in the 1970s and early 1980s, inflation has declined significantly in all advanced countries and is now at very low levels.This movement coincided with the acceleration of globalisation, triggering a recent debate on whether globalisation could be one of the main drivers of the disinflation process, and …Read More
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Charting public opinion on the future of the welfare state
Hüttl, Pia,Wolff, Guntram, (2015), “Charting public opinion on the future of the welfare state”, Bruegel Publications, 10 Νοεμβρίου. As part of the of the Vision Europe Summit, a survey was held between July and August 2015 to gauge public opinion on the welfare state after the crisis. The survey revealed citizens’ general confidence in the welfare state, as well as preferences regarding the welfare state’s future goals and financing. We discuss the …Read More
Βιβλιοθήκη » EE » Κοινωνία » Οικονομία » Άρθρα Γνώμης
The Growing Intergenerational Divide in Europe
Hüttl, Pia, Wilson, Karen, Wolff, Guntram, (2015), “The Growing Intergenerational Divide in Europe”, Bruegel Publications, Issue 17, Νοέμβριος. During seven years of economic crisis, the intergenerational income and wealth divide has increased in many European Union countries. In the bloc as a whole, young people on average have become significantly poorer, while poverty among pensioners has been reduced (Figure 1). Unemployment among the under-25s has risen notably while older workers (aged 5-64) have been less …Read More
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The macroeconomic effects of the Eurozone’s fiscal consolidation
Rannenberg, Ansgar, Schoder, Christian, Strasky, Jan, (2015), “The macroeconomic effects of the Eurozone’s fiscal consolidation”, Voxeu, 11 Νοεμβρίου. From 2011 to 2013, fiscal policy in the Eurozone turned progressively more restrictive. This column argues that output cost of fiscal consolidation strongly depends on presence and strength of credit constraints. With credit constraints both in the household and the firm sector, fiscal consolidation would be largely responsible for the weak growth performance during 2011-2013. …Read More
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