Mushaben, J. M. & Abels, G. (2014) “The lack of gender equality in EU decision-making means EU citizens are still suffering from a ‘double democratic deficit’“, LSE EUROPP Blog, 28 Αυγούστου. The EU has often been accused of having a democratic deficit with respect to deficiencies in the representation of citizens in EU decision-making. Joyce Marie Mushaben and Gabriele Abels discuss the role of gender equality in assessments of …Read More
The meaning of democracy changes for Europeans depending on their education status, income and national context
Magalhães, C. P. & Ceka, B. (2014) “The meaning of democracy changes for Europeans depending on their education status, income and national context“, LSE EUROPP Blog, 27 Αυγούστου. Most Europeans value democracy, but do all citizens have the same conception of what democracy is? Pedro C. Magalhães and Besir Ceka assess variations in how Europeans conceive of democracy and analyse the various factors which underpin different interpretations. Their findings …Read More
Fixing Europe’s Orbán Problem
Brenner, T. & Reinicke, W. (2014) “Fixing Europe’s Orbán Problem“, Social Europe Journal, 26 Αυγούστου. In April, when German Chancellor Angel Merkel congratulated Hungarian Prime Minister Viktor Orbán on his reelection, she let it be known that his large majority implied a “special responsibility” to use good judgment and behave with sensitivity toward opponents. He has done exactly the opposite. Indeed, Orbán has consistently defied the European Union’s core values and …Read More
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Mario Draghi At Jackson Hole
Wren-Lewis, S. (2014) “Mario Draghi At Jackson Hole“, Social Europe Journal, 26 Αυγούστου. To understand the significance of yesterday’s speech (useful extract from FT Alphaville here), it is crucial to know the background. The ECB has appeared to be in the past a centre of what Paul De Grauwe calls balanced-budget fundamentalism. I defined this as a belief that we needed fiscal consolidation (austerity) even when we were in a liquidity trap (i.e. interest rates were …Read More
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Europe’s Fitful Financial Integration
Davies, H. (2014) “Europe’s Fitful Financial Integration“, Project Syndicate, 25 Αυγούστου. The well-publicized troubles of Portugal’s Banco Espírito Santo this summer have reminded us that the eurozone’s financial problems are by no means resolved. There are, no doubt, idiosyncratic factors behind the bank’s problems, stemming from its exposure to other parts of the Espírito Santo family’s empire. But when the bank announced a first-half loss of €3.6 billion ($4.7 …Read More
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How to jumpstart the Eurozone economy
Giavazzi, F. & Tabellini, G. (2014) “How to jumpstart the Eurozone economy“, VoxEU Organisation, 21 Αυγούστου. The stagnating Eurozone economy requires policy action. This column argues that EZ leaders should agree a coordinated 5% tax cut, extension of budget deficit targets by 3 or 4 years, and issuance of long-term public debt to be purchased by the ECB without sterilisation. The mantra is that once again it is up …Read More
How Far Away Is a Single European Labor Market?
Krause, A., Rinne, U. & Zimmermann, F. K. (2014) “How Far Away Is a Single European Labor Market?“, IZA Discussion Paper No. 8383, Αύγουστος. A Single European Labor Market, particularly involving the free movement of workers within Europe, has been a goal of the European community since the 1950s. Whereas it may entail opportunities and drawbacks alike, the benefits –such as greater economic welfare for most citizens– are supposed …Read More
Eurozone has failed – a major shift in direction is needed
Mitchell, B. (2014) “Eurozone has failed – a major shift in direction is needed“, Bill Mitchell Blog, 25 Αυγούστου. The central bankers of the World met at Jackson Hole, Wyoming last week for their annual gathering far from the madding crowd. And as far away from the mess they have helped to create as you could imagine. Out of sight out of mind I guess. The ECB boss felt …Read More
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European Economy, Evaluating Fiscal Policy – A Rule of Thumb
Carnot, N. (2014) “European Economy, Evaluating Fiscal Policy – A Rule of Thumb“, European Commission – Economic Papers 526, Αύγουστος. This paper introduces a simple rule for appraising the economic soundness of fiscal policies. It connects fiscal policy to a long-run debt objective, taken as an anchor, while arbitraging symmetrically between this debt objective and output stabilisation. The rule offers a benchmark to assess the evolution of primary expenditure, …Read More
A European Lost Decade?
Heise, M. (2014) “A European Lost Decade?“, Project Syndicate, 22 Αυγούστου. Europe is in a difficult predicament. Inflation has fallen to 0.4%, and economic growth has been anemic for years. Though the European Central Bank has kept interest rates close to zero, private credit growth is stalling and public debt continues to rise. This sounds a lot like Japan’s situation in the 1990s, which culminated in a “lost decade” …Read More
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