Barry Eichengreen, (2019), “The Return of Fiscal Policy”, Project Syndicate, 13 Μαϊου Public debt is not a free lunch in an economy close to full employment. But when investment demand tends to fall short of saving, as it does when monetary policymakers are unable to push inflation higher to reduce real interest rates, there is a risk of chronic underemployment – and a stronger argument for deficit spending. Σχετικές Αναρτήσεις …Read More
Eurostat/GDP up by 0.4% and employment up by 0.3% in the euro area/15 Μαϊου 2019 Seasonally adjusted GDP rose by 0.4% in the euro area (EA19) and by 0.5% in the EU28 during the first quarter of 2019, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the fourth quarter of 2018, GDP had grown by 0.2% in …Read More
Pascal Michaillat and Emmanuel Saez, (2019), “How to design a stimulus package”, VoxEU, 13 Μαϊου Academics and policymakers alike have debated how to structure an optimal stimulus package since the Great Recession. This column revisits the arguments related to the size of the multiplier and the usefulness of public spending, and offers a blueprint for future stimulus packages. It finds that the relationship between the multiplier and stimulus spending is …Read More
naftemporiki.gr, (2019), “Η Ευρώπη στα «χαρακώματα» λόγω εμπορικού πολέμου”, 11 Μαϊου HΠΑ και Κίνα διασταυρώνουν τα ξίφη τους, κλονίζοντας την εμπιστοσύνη των επενδυτών και φουντώνοντας τις ανησυχίες για την πορεία της παγκόσμιας οικονομίας. Οι εξελίξεις αποτελούν κακά μαντάτα για την Ευρώπη, σε μια εποχή που η οικονομία πασχίζει να ανακτήσει την αναπτυξιακή της δυναμική, έπειτα από μια δύσκολη χρονιά. Σχετικές Αναρτήσεις Ζωρζετ Ζολώτα, (2019), «Η Ευρωζώνη σε επιβράδυνση, η Ιταλία …Read More
Silvia Sciorilli Borrelli, (2019), “Italy’s incurable economy”, Politico, 13 Μαϊου Ιtaly’s economy is sick and the governing coalition can’t agree on the cure — among themselves or with Brussels. The European Commission said last week that the government’s flagship measures — an early retirement scheme and a citizens’ income (a monthly allowance for certain jobseekers) — failed to trigger the growth the League-5Stars coalition had envisaged. To make matters worse, …Read More
Gianni Amisano and Oreste Tristani, (2019), “Uncertainty shocks, monetary policy and long-term interest rates”, ECB Working Paper Series No 2279, Μάιος We study the relationship between monetary policy and long-term rates in a structural, general equilibrium model estimated on both macro and yields data from the United States. Regime shifts in the conditional variance of productivity shocks, or ”uncertainty shocks”, are an important model ingredient. First, they account for countercyclical …Read More
Hites Ahir, Nicholas Bloom and Davide Furceri, (2019), “The global economy hit by higher uncertainty”, VoxEU, 11 Μαϊου According to the latest IMF projections, the global economy is now projected to grow at 3.3% in 2019, down from 3.6% in 2018. This is partly due to rising uncertainty in many parts of the world. This column shows how these statements are in line with the latest reading of the World …Read More
Gros, Daniel (2019), “Don’t Fear the Euroskeptics“, Project-Syndicate. org, Μάιος Although the European Union is arguably as popular as ever, the next European Parliament may well contain a large minority of forces skeptical or hostile to further integration. Instead of viewing this as a threat, pro-Europeans should seize the opportunity to start a necessary debate about the continent’s future. Σχετικές Αναρτήσεις Karl Aiginger, (2019), «Populism: Roots, consequences, and counter strategy», 20 …Read More
Η Ναυτεμπορική (2019), Bertelsmann: Όλοι κέρδισαν από την ενιαία αγορά, όχι όμως το ίδιο- Ποιοι οι μεγάλοι ωφελημένοι, Μάιος Τα μεγάλα βιομηχανικά κέντρα, οι αστικές περιοχές και η Γερμανία είναι οι μεγάλοι ωφελημένοι από την ενιαία εσωτερική αγορά της Ευρωπαϊκής Ένωσης. Αυτό προκύπτει από έκθεση του Bertelsmann, η οποία αναδεικνύει τις επίμονες οικονομικές και κοινωνικές ανισότητες, που δοκιμάζουν την κοινότητα. Σχετικές Αναρτήσεις European Commission (2019), “European Economic Forecast – Spring 2019“, Institutional Paper 102, …Read More
European Commission (2019), “European Economic Forecast – Spring 2019“, Institutional Paper 102, Μάιος Economic activity in the EU slowed further in the second half of 2018 as growth in the global economy and trade weakened amid tightened global financing conditions, unresolved trade tensions, high uncertainty, and as a result of exceptional weakness in the manufacturing sector that extended into the start of 2019. The slowdown was even more pronounced in the …Read More
