Vox editor’s,  “The IMF’s analysis of the Irish bailout”, Voxeu, 17 Νοέμβρη The IMF, together with CEPR and the Central Bank of Ireland, put on a conference that drew lessons from Ireland’s bailout package titled “Ireland: Lessons from its Recovery from the Bank-Sovereign Loop”. This column summarises the contributions by Eichengreen, Fatás and Schoenmaker, as well as panel comments by Christine Lagarde, Benoît Coeuré, Michael Noonan, and Valdis Dombrovskis. Σχετικές …Read More

Schoenmaker, Dirk, (2015), “Firmer Foundations for a Stronger European Banking Union”, Bruegel Institute, Νοέμβριος The Banking Union is a milestone in European banking integration. While supervision of European banks by national supervisors was loosely coordinated through the European Banking Authority (EBA), the Banking Union has positioned the European Central Bank (ECB) as centralised supervisor of the European banks, initially in the euro area. The Banking Union creates a paradigm shift for the various stakeholders. …Read More

World Bank, (2015), “Doing Business 2016-Measuring Regulatory Quality and Efficiency”, World Bank Group Publications, 27 Οκτωβρίου Societies need regulation—and businesses, as part of society, are no exception. Without the rules that underpin their establishment, operation and dissolution, modern businesses cannot exist. And where markets left to themselves would produce poor outcomes, well-designed regulation can ensure outcomes that are socially optimal and likely to leave everyone better off. Σχετικές Αναρτήσεις Doing Business 2015: Going Beyond Efficiency, Comparing Business Regulations for …Read More

De Santis A., Roberto, Legrenzi, Gabriella and Milas, Costas, (2015), “Fiscal policy adjustments in the euro area stressed countries: new evidence from non-linear models with state-varying thresholds”, ECB Working Paper Series, No 1858, Οκτώβριος We introduce a non-linear model to study the adjustment of fiscal policy variables in Greece, Ireland, Portugal and Spain over the last 50 years, based on endogenously estimated budget deficit-to-GDP thresholds, which vary with fiscal disequilibria, the economic cycle and financial market …Read More

European Commission, (2015), “Quarterly Report on the Euro Area (QREA)”, Vol. 14, No. 3, Instituional Paper 010,  Οκτώβριος Seven years since the beginning of the global financial crisis, the euro area’s recovery remains subdued and fragile. This is despite improved framework conditions for growth since 2014, notably in terms of fiscal and monetary policy stances. To better understand the key features of the current recovery, this chapter presents a comparison of recent economic developments in the euro …Read More

European Commission, (2015), “European Business Cycle Indicators – 3rd Quarter 2015”, Technical Paper 003, Οκτώβριος After the broadly flat development over the second quarter of 2015, the EU and the euroarea Economic Sentiment Indicators (ESI) embarked on an upward trend in the third quarter of 2015, thanks mostly to increases in July and September. At the end of the third quarter of 2015, the ESI scored rathercomfortably above the long-term average of 100 in both the EU (at …Read More