Jassaud, Ν. (2014) “The role of corporate governance in strengthening banks“, VoxEU Organisation, 30 Οκτωβρίου. Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. This column discusses the corporate governance of Italian banks, its regulatory framework, and the specific challenges arising from the role played by foundations and large cooperatives. Although Italian banks have recently made progress in improving their corporate governance, …Read More
Why France Needs Political Reform
Funk Kirkegaard, J. (2014) “Why France Needs Political Reform“, Peterson Institute for International Economics, 29 Οκτωβρίου. Despite recent unflattering jokes, France is not an economic basket case. Blessed with numerous competitive high value-added industries, France is also visited by more foreign tourists than any other country in the world. It has also performed far better than the euro area periphery and the islands off the coast of the Continent …Read More
Making sense of the comprehensive assessment
Acharya, V. & Steffen, S. (2014) “Making sense of the comprehensive assessment“, VoxEU Organisation, 29 Οκτωβρίου. The ECB conducted a comprehensive assessment of banks and identified capital shortfalls for 25 banks, totalling €25 billion. In this column, the authors provide a number of benchmark stress tests to estimate capital shortfalls. The analyses suggest possible capital shortfalls between €80 billion and more than €700 billion depending on the model. They …Read More
Βιβλιοθήκη » EE » Οικονομία » Πολιτική » Επιστημονικά Άρθρα
Income and Wealth Distribution in Germany: A Macroeconomic Perspective
Van Treeck, Τ. (2014) “Income and Wealth Distribution in Germany: A Macroeconomic Perspective“, The Institute Blog, 29 Οκτωβρίου. Household economic surveys, such as the German Socio-Economic Panel, notoriously underestimate the degree of income and wealth inequality at the upper end of the distribution. To combat this, a new approach developed by Thomas Piketty and co-authors analyzes tax return data in an attempt at better measuring top incomes and wealth. …Read More
Why Keynes is Important Today
Temin, P. & Vines, D. (2014) “Why Keynes is Important Today“, Institute for New Economic Thinking, 28 Οκτωβρίου. Macroeconomists have been notably unhelpful in explaining and recommending policies since the global financial crisis of 2008. How could this have happened? Since John Maynard Keynes created macroeconomics in the 1930s, the field has grown to be half of all introductory courses in economics and has become well represented and respected …Read More
Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης
A 100-year perspective on sovereign debt composition in 13 advanced economies
Ali Abbas, S. M., Blattner, L., De Broeck, M., El-Ganainy, A. & Hu, M. (2014) “A 100-year perspective on sovereign debt composition in 13 advanced economies“, VoxEU Organisation, 27 Οκτωβρίου. There has been renewed interest in sovereign debt since the Global Crisis, but relatively little attention has been paid to its composition. Sovereign debt can differ in terms of the currency it is denominated in, its maturity, its marketability, …Read More
Inclusive Growth: What Future for the European Social Model?
Schmid, G. (2014) “Inclusive Growth: What Future for the European Social Model?“, IZA Policy Paper No. 82, Μάιος 2014. This essay starts, after a short introduction on the importance and dimensions of “inclusive growth”, with a brief empirical sketch on to what extent Europe has already succeeded with respect to this ambitious goal. The result is quite sobering and gives rise to the question: why is it so? The …Read More
Why the Eurozone suffers from a Germany problem
Wren-Lewis, S. (2014) “Why the Eurozone suffers from a Germany problem“, Mainly Macro Blog, 26 Οκτωβρίου. When, almost a year ago, Paul Krugman wrote six posts within three days laying into the stance of Germany on the Eurozone’s macroeconomic problems, even I thought that maybe this was a bit too strong, although there was nothing in what he wrote that I disagreed with. Yet as Germany’s stance proved unyielding …Read More
Βιβλιοθήκη » EE » Πολιτική » Άρθρα Γνώμης
The Scariest Number Revealed Today: $1.114 Trillion In Eurozone Bad Debt
Durden, D. (2014) “The Scariest Number Revealed Today: $1.114 Trillion In Eurozone Bad Debt“, ΘZeroHedge, 26 Οκτωβρίου. As we previously reported, the ECB’s latest stress test was once again patently flawed from the start. Why? Because as we noted earlier, in its most draconian, “adverse” scenario, the ECB simply refused to contemplate the possibility of deflation. And here’s why. Buried deep in the report, on page 75 of 178, …Read More
Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης
How Germany Conquered Europe in 25 Years
Mishra, P. (2014) “How Germany Conquered Europe in 25 Years“, Bloomberg View, 26 Οκτωβρίου. On Nov. 9, Berlin will celebrate the 25th anniversary of the fall of the wall that divided the city during much of the Cold War. At the time, images of exuberant wall-breakers signaled the end of communism. A quarter-century later, the event seems to have also been a prelude to the rebirth of Berlin and …Read More
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