Acharya, V. & Steffen, S. (2014) “Benchmarking the European Central Bank’s asset quality review and stress test: A tale of two leverage ratios“, VoxEU Organisation, 21 Νοεμβρίου. The ECB estimated that Eurozone banks would face a capital shortfall of €25 billion in a severe crisis. Earlier work by the authors estimated the shortfall to be 30 times higher. This column argues that this striking divergence can be explained by …Read More
Wille, Α. (2014) “The Commission after the 2014 EP Elections“, Ideas on Europe – UACES Blog, 19 Νοεμβρίου. ‘This Time It’s Different’! This was the campaigning slogan for the official run-up ahead of the 2014 European Parliament (EP) elections. Voters were led to believe that these elections would be different. Not only would they be choosing the EP, but indirectly they also would select the next president of the …Read More
Costa-i-Font, J. & Zigante, V. (2014) “Why the views of middle class citizens help explain increased choice in European healthcare systems“, LSE EUROPP, 21 Νοεμβρίου. Several countries across Europe have attempted to reform their health systems by allowing patients more choice over their healthcare provider. The typical rationale for this strategy is that by creating competition between providers, there will be an increased incentive to improve the efficiency and …Read More
Durden, T. (2014) “The Eurozone’s QE Problem“, ΘZeroHedge, 19 Νοεμβρίου. Over the last couple of weeks, as the Federal Reserve ended their latest round of quantitative easing, there have been many calls that the pickup of the “QE Baton” by the BOJ and ECB. The problem is that the impact of liquidity interventions in Japan and the Eurozone do not carry the same “punch” as was witnessed in the …Read More
Corneo, G. (2014) “Public Capital in the 21st Century“, Friedrich Ebert Stiftung, Freie Uni Berlin & Social Europe Journal, Research Essay No.2, Νοέμβριος. The increase of income and wealth concentration threatens the European project of a good society. Capital taxation alone cannot stop this process, but a combination of moderately higher capital taxes and a novel role of public capital will do. The governance of public capital requires carefully …Read More
Daniel Gros: “Quantitative Easing and Deflation in a Creditor Economy, στο Growth, Convergence and Income Distribution: The Road from the Brisbane G-20 Summit, σσ. 87-91, Think Tank 20: Νοέμβριος 2014. On November 15-16th, world leaders gathered in Brisbane, Australia for the ninth G-20 summit, aimed at increasing world GDP and charting a pathway to sustainable, inclusive growth and resilience through both short and medium-term actions. Experts from think tanks …Read More
Glendinning, S. (2014) “Europe’s goal should not be a United States of Europe, but a better united Europe of states“, LSE EUROPP, 20 Νοεμβρίου. Is a European ‘superstate’ desirable and, if so, could it ever be created? Simon Glendinning writes on philosophical approaches to this question, drawing on the work of philosophers such as Hegel, Kant, Marx and Derrida. Taking inspiration from Kant, he argues that rather than aiming …Read More
Pelkmans, J. & Renda, A. (2014) “Does EU regulation hinder or stimulate innovation?“, Regulatory Policy, CEPS Special Reports, 19 Νοεμβρίου. One frequently hears the question posed in the title to this report, but there is little systematic analytical literature on the issue. Fragmented evidence or anecdotes dominate debates among EU regulatory decision-makers and in European business, insofar as there is a genuine debate at all. This CEPS Special Report …Read More
Bastian, J. (2014) “Is there (sustainable) growth in Greece?“, MacroPolis: Greece in Perspective, 19 Νοεμβρίου. Greece finally exited its six-year long recession in the third quarter of 2014. The Hellenic Statistical Authority ELSTAT said that the economy grew by 0.7 percent in the third quarter (compared to the same quarter in 2013). The positive third quarter reading is the first after 24 consecutive quarters of negative GDP performance dating …Read More
Dollar, D., Kleineberg, T. & Kraay, A. (2014) “Growth, inequality, and social welfare: Cross-country evidence“, VoxEU Organisation, 19 Νοεμβρίου. Concerns about inequality are at the forefront of many policy debates. While inequality has increased in many countries over the past few decades, in others it has decreased. This column uses data from 117 countries over the past four decades to investigate the importance of such changes in inequality, as …Read More
