Aziz, J. (2014) “Is It Time To End Fractional Reserve Banking?“, Pieria Network, 12 Μαΐου. The moment you realize that the financial system has an inherent fragility at its heart — that people can simply lose confidence in the system, withdraw their deposits en mass, and because banks only keep a fraction of their deposits on hand cause a liquidity crisis where the bank runs out of money — …Read More
Tiffin, Α. (2014) “European Productivity, Innovation and Competitiveness: The Case of Italy“, IMF Working Paper, Strategy,Policy and Review Department, Μάιος. In Italy, price-based competitiveness measures are not always an accurate predictor of trade outcomes. This paper offers a more comprehensive assessment of Italian competitiveness, focusing on the role of innovation and the evolution of Italy’s export market share. Overall, Italy maintains a high-quality export mix, and the adaptability of …Read More
Hatcher, N. & Minford, P. (2014) “Inflation targeting vs price-level targeting: A new survey of theory and empirics“, VoxEU Organisation, 11 Μαΐου. Inflation targeting and price-level targeting have excited economists for decades. This column reviews a survey on the merits of price-level targeting. The latter could potentially help monetary policy deal with the zero bound on nominal interest rates. Such beneficial effects depend on rational expectations and a New …Read More
Whelan, C., Nolan, B. & Maître, B. (2014) “Multidimensional poverty measurement in Europe: An application of the adjusted headcount approach“, Journal of European Social Policy, Vol. 25, No. 2, 183-197, Μάιος. As awareness of the limitations of relying solely on income to measure poverty has become more widespread, attention has been increasingly focused on multi-dimensional approaches, to the point where the European Union (EU) has adopted a multidimensional poverty …Read More
Belke, Α., Oeking, Α. & Setzer, R. (2014) “Exports and Capacity Constraints: A smooth transition regression model for six euro-area countries“, Economic Policy, CEPS Working Documents, 06 Μαΐου. The significant gains in export market shares made in a number of vulnerable euro-area crisis countries have not been accompanied by an appropriate improvement in price competitiveness. This paper argues that, under certain conditions, firms consider export activity as a substitute …Read More
Van Hooren, F., Kaasch, A. & Starke, P. (2014) “The shock routine: economic crisis and the nature of social policy responses“, Journal of European Public Policy, Vol. 21 Issue 4, Taylor and Francis Online, 21 Μαρτίου. The idea that moments of crisis form opportunities for fundamental policy change is widespread in political science and public policy. It is usually associated with historical institutionalism and the notion of ‘critical junctures’. …Read More
OECD (2014) All on Board, Making Inclusive Growth Happen, OECD Inclusive Growth Initiative with support from the Ford Foundation, Μάιος. Inclusive Growth, which is a new approach to economic growth that aims to improve living standards and share the benefits of increased prosperity more evenly across social groups, has become a major challenge for many countries around the world. This objective is particularly relevant in high income countries and …Read More
Reinhardt, D. & Riddiough, S. (2014) “The two faces of cross-border banking flows: An investigation into the links between global risk, arms-length funding, and internal capital markets“, VoxEU Organisation, 07 Μαΐου. Cross-border funding between banks collapsed following the bankruptcy of Lehman Brothers, but the withdrawal of funding was not uniform across countries. This column argues that the composition of cross-border bank-to-bank funding can help to explain why. Interbank funding …Read More
European Commission (2014) “European Economic Forecast, Spring 2014“, Directorate-General for Economic and Financial Affairs, Μάιος: Βρυξέλλες. The EU economic outlook is strengthening. While leading indicators point to GDP growth gaining momentum in the near term, the conditions for a sustained recovery in the medium term are also improving. In view of the crisis legacy, growth is still set to remain moderate, but a gradual easing of the drag related …Read More
Jouen, Μ. (2014) “The Single Market and Cohesion Policy Dyad: Battered by the Crisis and Globalisation”, Notre Europe Policy Papers, 28 Απριλίου. This Policy Paper by Marjorie Jouen aims at understanding the current relationship between the policy to reduce regional and social disparities and the one aimed at ensuring the opening of European markets. Part 1 recalls the nature of the strong bond between these policies for over twenty …Read More
