Beck, T. and Trebesch, C., (2013), “A bank restructuring agency for the Eurozone – cleaning up the legacy losses”, VoxEU, 18 Νοεμβρίου. Many Eurozone banks are still in a fragile state following the Global Crisis. This vulnerability will be highlighted as the ECB takes charge of bank supervision, and the EZ moves towards a banking union. This column proposes a Eurozone bank restructuring agency as a way to speed up …Read More

Wren-Lewis, S., (2013), “Central Banks and Financial Stability”, Social Europe Journal, 18 Νοεμβρίου. Inflation is significantly below 2% almost everywhere. In the US, Japan and the UK (even though in the UK inflation is still just above 2%) central banks are doing a great deal to get inflation back to 2%. Maybe not enough, but their goal is clear. The ECB is belatedly following the same path (although it remains …Read More

Schoder, C., Proano, C. and Semmler, W., (2013), “The Role of Financial Stress in the Sovereign Debt-Output Nexus, and in Economic Activity”, EconoMonitor, 18 Νοεμβρίου. Since the outbreak of the euro area crisis, the link between a country’s macroeconomic performance and the level of its sovereign debt has become a central topic in the economic debate. Now, the recent showdown in the U.S. Congress over raising the country’s debt ceiling …Read More

Lizoain, D., (2013), “The Jobs Recovery Is Always Two Years Away”, Social Europe Journal, 18 Νοεμβρίου. Is the jobs recovery around the corner? A few week ago, the European Commission published its latest economic forecast. Unemployment in the Euro area is projected to drop from 12.2% in 2014 to 11.8% in 2015. This is seemingly good news. The bad news is that the Commission also predicted that unemployment would begin …Read More

Eberhardt, M. and Presbitero, A., (2013), “Public debt and economic growth: There is no ‘tipping point’”, VoxEU, 17 Νοεμβρίου. The idea that there is a common tipping point in the relationship between public debt and economic growth is still widespread. However, this is likely due to a misinterpretation of the existing evidence. Once we allow for the relationship between debt and growth to be country-specific, there is limited evidence supporting …Read More