Aussilloux, Vincent, Benassy-Quere, Agnes, Fuest, Clemens, Wolff, Guntram B., (2017), “Making the best of the European single market”, Bruegel, 2 Φεβρουαρίου Now more than ever, the EU needs to address concerns about the significant decline in productivity growth and the increasing perception of unfairness. Completing the single market would unlock the EU’s growth potential. At the same time, the EU should empower member states to fight inequality by helping them …Read More

Reinhart, Carmen, (2017), “Is the Deflation Cycle Over?”, Project Syndicate, 31 Ιανουαρίου Until the global financial crisis of 2008-2009, deflation had all but disappeared as a concern for policymakers and investors in the advanced economies, apart from Japan, which has been subject to persistent downward pressure on prices for nearly a generation. And now deflationary fears are on the wane again. By the mid-1960s, the advanced economies began an era …Read More

Merler, Silvia, (2017), “The economic effects of migration”, Bruegel, 16 Ιανουαρίου What’s at stake: migration is currently a very hot topic in both the US and the EU. Immigration issues have come to the forefront due to the problem of rapidly ageing populations, the refugee crisis, and growing anti-immigration political rhetoric. But what do we know about the economic effects of migration? Σχετικές Αναρτήσεις Bertoncini, Yves, De Geus, Aart, Niblett, Robin, Styczynska, Izabela, Gastaldo, Piero, …Read More

Blanke, Jennifer, Krogstrup, Signe, (2016), “Negative interest rates: absolutely everything you need to know”, World Economic Forum, 2 Νοεμβρίου Since the great recession, a large number of advanced economies have been stuck with low growth and low levels of investment and inflation. Attempting to regain growth, central banks have taken increasingly forceful monetary measures. Of these, perhaps the most controversial and least understood is negative interest rates. The central bank of …Read More

Subacchi, Paola, (2017), “Economic Crises and the Crisis of Economics”, Project Syndicate, 13 Ιανουαρίου Is the economics profession “in crisis”? Many policymakers, such as Andy Haldane, the Bank of England’s chief economist, believe that it is. Indeed, a decade ago, economists failed to see a massive storm on the horizon, until it culminated in the most destructive global financial crisis in nearly 80 years. More recently, they misjudged the immediate …Read More

Blanchard, Olivier, (2017), “The Need for Different Classes of Macroeconomic Models”, PIIE, 12 Ιανουαρίου Theory models, aimed at clarifying theoretical issues within a general equilibrium setting. Models in this class should build on a core analytical frame and have a tight theoretical structure. They should be used to think, for example, about the effects of higher required capital ratios for banks, or the effects of public debt management, or the effects …Read More

Bindseil, Ulrich, Laeven, Luc, (2017), “Confusion about the lender of last resort”, Voxeu, 13 Ιανουαρίου 2017 The scale and scope of central bank lender of last resort operations during the Global Crisis raised concerns that central banks may be taking excessive risks and supporting moral hazard. This column argues that criticism of such operations is misguided. In the crisis, central banks did not make financial losses when acting as lender of …Read More

Eichengreen, Barry, (2017), “The Age Of Hyper-Uncertainty”, Social Europe, 9 Ιανουαρίου The year 2017 will mark the 40th anniversary of the publication of John Kenneth Galbraith’s The Age of Uncertainty. Forty years is a long time, but it is worth looking back and reminding ourselves of how much Galbraith and his readers had to be uncertain about. In 1977, as Galbraith was writing, the world was still reeling from the effects …Read More

Gros, Daniel, (2017), “Can the EU survive in an age of populism?”, CEPS, 9 Ιανουαρίου Despite the formidable threats currently facing the EU, Daniel Gros offers reassurances that its multi-level democracy and open economy will become more attractive again once the populists fail to deliver and weakened checks and balances lead to excesses. Another year has passed and another threat to the existence of the European Union is looming. The …Read More

Canepa, Francesco, (2017), “Σε στάση αναμονής η ΕΚΤ“, Η Καθημερινή/Reuters, 6 Ιανουαρίου H δραστική αναθέρμανση του πληθωρισμού στην Ευρωζώνη και οι καλύτερες από τις αναμενόμενες προοπτικές των επιχειρηματικών δραστηριοτήτων αναμένεται πως θα επαναφέρουν στο προσκήνιο το αίτημα ορισμένων σκληροπυρηνικών της ΕΚΤ για διακοπή της πάρα πολύ χαλαρής νομισματικής πολιτικής της. Σχετικές Αναρτήσεις Darvas, Zsolt, (2016), “Has ECB QE lifted inflation?”, Bruegel Blog, 13 Ιανουαρίου. Eurostat/Flash estimate – December 2016 Euro area annual …Read More