Hugh, E., (2013), “Spain – The Recession May Be Ending But The Crisis Continues”, www.EconoMonitor.com, 9 Σεπτεμβρίου. My feeling is that it’s totally unrealistic to expect a ‘return to the old reality’. We are now in a change of paradigm process. We all need to change our expectations and find ways to live with the new situation, since whether we like it or not we will have to. There is no …Read More
The Economist, (2013), “Generations: On the meaning of inflation”, Free Exchange Economics Blog, 11 Σεπτεμβρίου. Inflation, like demand itself, is always and everywhere a monetary phenomenon. Milton Friedman was right about that. But while that’s a useful thing to know it’s not always the answer to the question we’re really asking about macroeconomic troubles. If you ask what America’s main macroeconomic problem is at the moment, one correct answer is …Read More
Eichengreen, B., (2013), “Is Europe out of the woods?”, Project Syndicate, 11 Σεπτεμβρίου. And what happened in Greece would not stay in Greece. Once the process of euro exit had started, there was no telling where it would stop. The general feeling was that the common currency was doomed. CommentsView/Create comment on this paragraphIn fairness, this dark prognosis was not universally embraced. My own favorite recollection of this period is …Read More
Norman, L., (2013), “End to Crisis ‘Within Sight’ Says Barroso”, The Wall Street Journal, The Euro Crisis Blog, 11 Σεπτεμβρίου. Europe must move ahead on its banking union project to help the region exit an economic and debt crisis whose end is now “within sight,” the European Union’s top official said Wednesday. In his annual address to the European Parliament, European Commission President José Manuel Barroso said the region has “started …Read More
Binder, D., (2013), “Countries with higher rates of taxation tend to have happier citizens”, European Politics and Policy Blog, 10 Σεπτεμβρίου. What impact does a country’s level of taxation have on the happiness of its citizens? Using OECD data, David Binder assesses the relationship between high taxation levels and measures of citizen wellbeing/happiness. He finds that there is a correlation between high taxation and increased happiness, but that there are …Read More
Billington, I., (2013), “Euro-Zone Unemployment Unlikely to Fall Quickly”, The Wall Street Journal, The Euro Crisis Blog, 10 Σεπτεμβρίου. The euro zone may have emerged from recession this year, but unemployment is unlikely to fall quickly with companies less likely to hire staff in the final three months of the year than they were earlier in 2013, a survey of employers showed Tuesday. The quarterly Manpower Employment Outlook shows that, while there …Read More
Kirkegaard, J.F., (2013), “Economic Reforms in the Euro Area: Fiscal and Macro-structural Challenges”, European Parliament’s Committee on Economic and Monetary Affairs, Σεπτέμβριος. This paper highlights how recent successful stabilization efforts in the euro area have shifted the main policy challenge from “acute crisis management” to fighting chronic stagnation. Critical policy challenges concerning euro area financial sector reforms and the upcoming banking sector balancesheet assessment and stress test, as well as …Read More
Theophanous, A., (2013), “The way out of the Cyprus economic crisis”, Notre Europe – Jacques Delors Institute, Policy Paper 96, Σεπτέμβριος. This policy paper presents the current situation in Cyprus, and proposes two scenarii of a way out of the Cyprus economic crisis: a reframing of the current Troika’s philosophy, or an eventual temporary exit from the euro area. After having analysed the current economic, political and social situation of …Read More
Truman, E.W., (2013), “Enhancing the global financial safety net through central-bank cooperation”, www.voxeu.org, 10 Σεπτεμβρίου. Should we expect more global financial crises? This column argues that we should. Global financial crises are far from being a thing of the past because they are often caused by buildups of excessive domestic and foreign debt. To successfully address them and to limit negative spillovers, we need coordinated actions that prevent a contraction …Read More
Cramme, O., Diamond, P. and McTernan, M. eds., (2013), Progressive Politics After the Crash: Governing from the Left, London: I.B. Tauris & Co Ltd. Those who hoped the collapse of financial markets would usher in the end of neoliberalism and rehabilitate support for traditional social democratic policies programmes have been disappointed. It is not only the irrationality of markets which is the focus of public discontent, but the inefficiency of …Read More
