Valderrama,, Laura, Sigmund, Michael, Schmitz, Stefan W., (2017), “Bank Solvency and Funding Cost : New Data and New Results”, IMF, 15 Μαΐου This paper presents new evidence on the empirical relationship between bank solvency and funding costs. Building on a newly constructed dataset drawing on supervisory data for 54 large banks from six advanced countries over 2004–2013, we use a simultaneous equation approach to estimate the contemporaneous interaction between solvency and …Read More

 Kotz, Hans-Helmut, (2017), “Germany Will Lose if Macron Fails”, Project Syndicate, 15 Μαΐου FRANKFURT – When Emmanuel Macron won the French presidential election, many Germans breathed a loud sigh of relief. A pro-European centrist had soundly defeated a far-right populist, the National Front’s Marine Le Pen. But if the nationalist threat to Europe is truly to be contained, Germany will have to work with Macron to address the economic challenges that …Read More

Ohnsorge, Franziska, Yu, Shu, (2017), “The Global Crisis watershed: Investment-less credit booms”, Vox Eu, 16 Μαΐου Credit booms have often financed rapid investment growth, with investment subsequently stalling (Mendoza and Terrones 2012, Gorton and Ordonez 2016). However, after the Global Crisis, the nature of the relationship between credit and investment has changed. Specifically, credit to the nonfinancial private sector has risen rapidly in several several emerging market and developing economies (EMDEs), …Read More

Gholampour, Vahid, Wincoop, Eric van, (2017), “What we can learn from euro-dollar tweets”, Vox Eu, 15 Μαΐου 2017 Research on the microstructure of foreign exchange (FX) has established the importance of private information for the determination of exchange rates. But private information is, by definition, unobservable. In social media, large numbers of people directly express their opinions about the direction of asset prices. Other studies, such as Antweiler and Frank (2004) and …Read More

Laidi, Zaki, (2017), “France Returns to Europe”, Project Syndicate, 10 Μαΐου For starters, Macron’s victory represents a break from the populist wave that has swept across Europe. Since the United Kingdom’s Brexit referendum and US President Donald Trump’s election last year, populism has posed an existential threat to the European Union. And while Macron’s victory does not mean that the populist threat has been eliminated, it does show that such …Read More

Boenke, Timm, Grabka, Markus M., Schroeder, Carsten, Wolff, Edward, (2017), “The role of social security wealth in international comparisons of household wealth: A head-to-head comparison of augmented wealth in Germany and the US”, Vox Eu, 10 Μαΐου While wealth inequalities have received some attention, most academic, political, and public debates focus on inequalities in income. Concerning private wealth and international comparisons of wealth inequalities, research usually investigates the distributions of …Read More