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Is The Nation-State And Its Welfare State Dead? A Critique Of Varoufakis

Navarro, Vicente, (2016), “Is The Nation-State And Its Welfare State Dead? A Critique Of Varoufakis”, Social Europe, 4 Αυγούστου I always read the writings of Mr. Varoufakis with great interest, and I frequently find myself in agreement, particularly in his criticism of the Troika (the International Monetary Fund, European Commission, and European Central Bank) and of the Eurogroup (the Ministers of Economy and Finances of the European Union). I also …Read More

Unity in diversity: The way forward for Europe

Feld, Lars, Schmidt, Christoph, Schnabel, Isabel, Wieland, Volker, (2016), “Unity in diversity: The way forward for Europe”, Voxeu, 22 Αυγούστου It has been suggested that the vote for Brexit marks the first step of disintegration in Europe. This column argues that if the European integration process is pursued wisely, it still carries the promise of enduring peace and growing prosperity. But EU policymakers must devise a process of integration that strengthens …Read More

The Euro Area Workforce is Aging, Costing Growth

Aiyar, Shekhar, Ebeke, Christian, Shao, Xiaobo, (2016), “The Euro Area Workforce is Aging, Costing Growth”, iMF-direct, 17 Αυγούστου In parallel to the aging of the general population, the workforce in the euro area is also growing older. This could cause productivity growth to decline in the years ahead, raising another policy challenge for governments already dealing with legacies from the crisis such as high unemployment and debt. Σχετικές Αναρτήσεις Barslund, Mikkel, Busse, Matthias, …Read More

Is Europe spending too much?

Djankov, Simeon, (2016), “Is Europe spending too much?”, LSE Europpblog, 28 Ιουλίου Yes, it is, according to Simeon Djankov. He notes that public expenditures had risen to dangerously high levels in some Southern and Western European countries even prior to the eurozone crisis and argues that the European Central Bank’s loose monetary policy since 2012 has provided public sectors with little incentive to modernise. This, in turn, may be helping to fuel Eurosceptic …Read More

From brain drain to brain circulation: How labour mobility can help less developed European regions

Crescenzi, Riccardo, Holman, Nancy, Orrù, Enrico, (2016), “From brain drain to brain circulation: How labour mobility can help less developed European regions”, LSE Europpblog, 29 Ιουλίου One of the potential problems created by the free movement of people is that skilled workers are drawn toward more developed areas, undermining the development of their own regions. As Riccardo Crescenzi, Nancy Holman and Enrico Orrù write, this process, commonly referred to as ‘brain drain’, can present a …Read More

What’s New About Today’s Low Interest Rates?

Reinhart, Carmen, (2016), “What’s New About Today’s Low Interest Rates?”, Project Syndicate, 28 Ιουλίου A day seldom passes without articles appearing in the financial press pondering why interest rates have remained so low for so long. This is one of those articles. So let’s start by clarifying whose and which interest rates are low and what is and isn’t novel or unprecedented. Interest rates in emerging and developing countries are importantly affected …Read More

On the Distribution of the Welfare Losses of Large Recessions

Krueger, Dirk, Mitman, Kurt, Perri, Fabrizio, (2016), “On the Distribution of the Welfare Losses of Large Recessions”, Centre for Economic Policy Research, Ιούλιος How big are the welfare losses from severe economic downturns, such as the U.S. Great Recession? How are those losses distributed across the population? In this paper we answer these questions using a canonical business cycle model featuring household income and wealth heterogeneity that matches micro data from …Read More

Understanding the Sources of Macroeconomic Uncertainty

Rossi, Barbara, Sekhposyan, Tatevik, Soupre, Mattheiu, (2016), “Understanding the Sources of Macroeconomic Uncertainty”, Center for Economic Policy Research, Ιούλιος We propose a decomposition to distinguish between Knightian uncertainty (ambiguity) and risk, where the first measures the uncertainty about the probability distribution generating the data, while the second measures uncertainty about the odds of the outcomes when the probability distribution is known. We use the Survey of Professional Forecasters (SPF) density forecasts …Read More

Growth in a Time of Disruption

Spence, Michael, (2016), “Growth in a Time of Disruption”, Project Syndicate, 27 Ιουλίου Developing countries are facing major obstacles – many of which they have little to no control over – to achieving sustained high growth. Beyond the headwinds generated by slow advanced-economy growth and abnormal post-crisis monetary and financial conditions, there are the disruptive impacts of digital technology, which are set to erode developing economies’ comparative advantage in labor-intensive manufacturing …Read More

How income inequality affects euro area current account imbalances

Marzinotto, Benedicta, (2016), “How income inequality affects euro area current account imbalances”, LSE Europpblog, 27 Ιουλίου Since the late 2000s financial crisis, a great deal of attention has been focused on the issue of how inequality affects the lives of citizens. But can inequality also explain some of the macroeconomic trends present in European countries? Benedicta Marzinotto writes on the link between inequality and current account imbalances in the Eurozone. Using …Read More