Vivien Schmidt, (2016), “Missing Topic In #EUref: Neo-Liberalism Gone Too Far”, Social Europe, 22 Ιουνίου As the referendum campaign nears its end, one central issue is remarkable for its absence, despite the fact that it has been a major contributor to the anger that lends support to the Brexit camp: neo-liberalism. The revolt against the political parties, the rejection of the experts, the distrust of the elites more generally: all …Read More
McKay, Alisdair, Reis, Ricardo, (2016), “Optimal Automatic Stabilizers”, Centre for Economic Policy Research, Ιούνιος Should the generosity of unemployment benefits and the progressivity of income taxes depend on the presence of business cycles? This paper proposes a tractable model where there is a role for social insurance against uninsurable shocks to income and unemployment, as well as inefficient business cycles driven by aggregate shocks through matching frictions and nominal rigidities. We derive …Read More
Thomas Fricke, (2016), “A New Economic Paradigm To Fight Populism”, Social Europe, 21 Ιουνίου If the polls tell the truth, 86 percent of the Austrian blue-collar workers voted for the right-wing populist Norbert Hofer in the Austrian presidential elections in May. In the presidential elections in France Marine Le Pen would have reached the final round already back in 2012, had it been up to the blue-collar workers. In the …Read More
Ilzkovitz, Fabienne, Dierx, Adriaan, (2016), “Competition policy and inclusive growth”, Voxeu, 19 Ιουνίου Firms with greater market power can behave monopolistically, and recent research suggests that declining market competitiveness is driving income inequality. While competition authorities already measure the overall impact of their interventions by using customer savings, these measurements do not account for indirect effects of intervention. This column introduces a DSGE model to model competition policy interventions as a negative …Read More
Merritt, Giles, (2016), “Europe’s Wake-Up Call”, Project Syndicate, 20 Ιουνίου There’s a silver lining to the dark clouds of populist Euroskepticism crowding in on the European Union. In Brussels and a number of Europe’s capitals, leaders know that the EU must respond to mounting discontent, and that – at long last – there is political capital to be gained in doing so. Σχετικές Aναρτήσεις Balfour, Rosa, Emmanouilidis, Janis A., Fieschi, Catherine, et al., (2016), “EUROPE’S TROUBLEMAKERS …Read More
OECD, (2016), “OECD Regions at a Glance 2016”, OECD Publishing, 16 Ιουνίου OECD Regions at a Glance shows how regions and cities contribute to national economic growth and well-being. This edition updates more than 40 region-by-region indicators to assess disparities within countries and their evolution over the past 15 years. The report covers all the OECD member countries and, where data are available, Brazil, People’s Republic of China, Colombia, India, …Read More
Ellul, Andrew, Pagano, Marco, Schivardi, Fabiano, (2016), ” Employment and wage insurance within firms: Worldwide evidence “, Voxeu, 17 Ιουνίου Most countries feature some form of government-provided unemployment insurance, but there is an alternative provider of insurance for employees – the firm they work for. This column asks whether the provision of implicit insurance by family firms in particular to employees is a substitute for the provision of explicit insurance by governments. Family …Read More
Eisenbach, Thomas, Lucca, David, Townsend, Robert, (2016), ” The economics of bank supervision: Theory and evidence “, Voxeu, 17 Ιουνίου 2016, The two main elements of bank industry oversight are regulation and supervision. This column provides a framework for thinking about supervision in relation to regulation. Using US data on supervisory hours spent, it finds evidence of economies of scale for bank size. Additionally, less risky banks receive substantially lower amounts of supervisory hours. The findings …Read More
European Stability Mechanism, (2016), “Annual Report 2015”, Ιούνιος The year 2015 was a difficult but also successful one for the European Stability Mechanism (ESM). Greece was the chief challenge. While Cyprus emerged strengthened from its ESM loan programme in March 2016, and the other former ESM or European Financial Stability Facility (EFSF) programme countries shone as economic bright spots, Greece remained an exception. At the start of 2015, Greece’s second …Read More
A. Zoppè, (2016), “Implementation of the Macroeconomic Imbalance Procedure”, EuroParl EGOV PE 497.739, 16 Ιουνίου This note presents the Member States’ situation with respect to the Macroeconomic Imbalance Procedure (MIP) taking into account recent assessments and decisions by the European Commission, as well as documents published by other relevant European institutions. This document is regularly updated. A separate EGOV note describes the MIP procedure. On the basis of the economic reading of …Read More
