Meyer, H. (2014) “How Money And Credit Work“, Social Europe Journal, 23 Ιουλίου.   Do you think that in recent years, as a result of the global economic crisis, the whole discussion about public policy has become increasingly focussed on economics? And that much of the policy discussion is based on core concepts that are quite poorly understood, including by many policy-makers? If your answer to these question is yes you are not alone. At …Read More

Tressel, T. & Wang, S. (2014) “Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments“, Working Paper No. 14/130, International Monetary Fund, 22 Ιουλίου.   The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shedding. There is so far limited evidence of resource re-allocation from non-tradable …Read More

Broner, A. F., Erce, A., Martin, A. & Ventura, J. (2014) “Sovereign debt markets in turbulent times: A view of the European crisis“, VoxEU Organisation, 23 Ιουλίου.   By 2010, Eurozone periphery countries had faced severe debt problems and a falling credit to the private sector. This column proposes a theory to interpret these events. Governments can discriminate in favour of domestic creditors and public debts trade in secondary markets. …Read More

Emerson, M. (2014) “Trade policy issues in the Wider Europe – that led to war and not yet to peace“, EU Foreign Policy, CEPS Working Documents, 16 Ιουλίου.   This paper looks at the trade policy landscape of the EU and the wider Europe, with a focus on issues arising from the signature on 27 June 2014 of Deep and Comprehensive Free Trade Agreements (DCFTAs) between the EU and three …Read More