Vcas-Soriano, Carlos, Fernández-Macías, Enrique, (2017), “EU Income Inequality And The Great Recession”, Social Europe, 21 Μαρτίου EU-wide income inequality declined notably prior to 2008, driven by a strong process of income convergence between European countries. The Great Recession broke this trend. After 2008, income convergence has been sluggish, while inequality within many countries has increased significantly. Despite the implicit assumption stemming from many EU policy documents that European economic integration should …Read More
Guidance to banks on non-performing loans
ECB Banking Supervision, (2017), “Guidance to banks on non-performing loans”, ECB, Μάρτιος A number of banks in Member States across the Euro area are currently experiencing high levels of non-performing loans (NPLs). There is broad consensus on the view that high NPL levels ultimately have a negative impact on bank lending to the economy1 , as a result of the balance sheet, profitability, and capital constraints faced by banks with …Read More
The Troika gave Ireland more autonomy over social security cuts than is commonly recognised
Hick, Rod, (2017), “The Troika gave Ireland more autonomy over social security cuts than is commonly recognised”, LSE EUROPP, 22 Μαρτίου The so called ‘Troika’ of the European Commission, European Central Bank, and the International Monetary Fund was frequently criticised during the Eurozone crisis on the basis that it had imposed austerity on countries requiring a bailout. But how accurate was this picture in reality? Drawing on new research in …Read More
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Chart of the Week: Inequality and the Decline in Labor Share of Income
iMFBlog, (2017), “Chart of the Week: Inequality and the Decline in Labor Share of Income”, 20 Μαρτίου As discussed in the IMF’s G20 Note, and a blog last week by IMF Managing Director Christine Lagarde, a forthcoming chapter of the World Economic Outlook seeks to understand the decline in the labor share of income (that is, the share of national income paid in wages, including benefits, to workers) in many countries …Read More
Carving out legacy assets: a successful tool for bank restructuring?
Lehmann, Alexander, (2017), “Carving out legacy assets: a successful tool for bank restructuring?”, Bruegel, 21 Μαρτίου Separating ‘legacy assets’ from banks’ core business is central to the rehabilitation of Europe’s banking system. How can Europe progress in its ongoing effort to rid the financial system of legacy assets, and equip it with renewed growth? Σχετικές Αναρτήσεις Honohan, Patrick, (2017), “Management and Resolution of Banking Crises: Lessons from Recent European Experience …Read More
The 2017 macroeconomic imbalance procedure and implementation of the 2016 country-specific recommendations
ECB, (2017), “The 2017 macroeconomic imbalance procedure and implementation of the 2016 country-specific recommendations”, ECB, 21 Μαρτίου The MIP was introduced in 2011 and is now in its sixth year of application. It seeks to prevent the emergence of harmful macroeconomic imbalances in EU countries and to correct them where they are excessive. Following a screening exercise in autumn each year on the basis of a set of indicators, the …Read More
Annual growth in labour costs at 1.6% in euro area
Eurostat/Annual growth in labour costs at 1.6% in euro area, 20 Μαρτίου 2017 Hourly labour costs rose by 1.6% in the euro area (EA19) and by 1.7% in the EU28 in the fourth quarter of 2016, compared with the same quarter of the previous year. In the third quarter of 2016, hourly labour costs increased by 1.4% and 1.8% respectively. These figures are published by Eurostat, the statistical office of …Read More
Η Ιρλανδία έδωσε μαθήματα δημοσιονομικής εξυγίανσης
Roche, Bill , O’ Connell, Philip , Prothero, Andy , (2017), “Η Ιρλανδία έδωσε μαθήματα δημοσιονομικής εξυγίανσης”, Καθημερινή, 18 Μαρτίου Το 2015, πολλοί παρέθεταν τα στοιχεία της ιρλανδικής κυβέρνησης για να πείσουν τους ομολόγους τους στην Ελλάδα να μιμηθούν το παράδειγμα της Ιρλανδίας και να αντλήσουν τα ίδια οφέλη. Ωστόσο, ο οικονομολόγος Στίβεν Κινσέλα εξηγεί σε βιβλίο που εξέδωσε πρόσφατα ότι είναι πιο ρεαλιστικό να βλέπει κανείς την Ιρλανδία όχι σαν …Read More
Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης
The inflation basket case
Merler, Silvia, (2017), “The inflation basket case“, Bruegel, 17 Μαρτίου ECB President Draghi highlighted that there are no signs yet of a convincing upward trend in underlying inflation. Indeed, this stands out clearly if we look more in detail at the composition of the basket. Figure 1 shows the headline and core inflation rates for the euro area, together with the share of items in the Harmonised Consumer Price Index …Read More
Governments Have Put the ECB in a Bind
Bloomberg, (2017), “Governments Have Put the ECB in a Bind”, Bloomberg, 20 Μαρτίου If you think it will be hard for the U.S. Federal Reserve to normalize monetary policy, spare a thought for the European Central Bank. The euro zone’s monetary guardians have said they will continue to buy 60 billion euros a month in government and corporate bonds until the end of 2017. Headline inflation is running at 2 …Read More
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