Beck, Τ., Degryse, H., De Haas, R. & Van Horen, N. (2014) “When arm’s length is too far“, VoxEU Organisation, 25 Ιουλίου. The small and medium-size enterprises (SMEs) were among the most severely affected in the Global Crisis. This column discusses new evidence on how different lending techniques affect lending in bad and good times. Data from 21 countries in central and eastern Europe show that ‘relationship lending’ alleviates …Read More
World Economic Outlook, An Uneven Global Recovery Continues
International Monetary Fund (2014) “World Economic Outlook, An Uneven Global Recovery Continues“, WEO Update, Ιούλιος. The global growth projection for 2014 has been marked down by 0.3 percent to 3.4 percent, reflecting both the legacy of the weak first quarter, particularly in the United States, and a less optimistic outlook for several emerging markets. With somewhat stronger growth expected in some advanced economies next year, the global growth projection …Read More
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Progress Towards External Adjustment in the Euro Area Periphery and the Baltics
Shik Kang, J. & Shambaugh C., J. (2014) “Progress Towards External Adjustment in the Euro Area Periphery and the Baltics“, Working Paper No.14/131, International Monetary Fund, 22 Ιουλίου. The euro area periphery countries and the Baltic countries, which had large current account deficits in the run-up to the crisis, needed adjustment of relative prices to achieve both internal and external balances. Thus far, tangible progress has been made through …Read More
Lithuania changes the ECB’s voting system – membership threshold triggers change in the ECB’s Governing Council’s voting system
Merler, S. (2014) “Lithuania changes the ECB’s voting system – membership threshold triggers change in the ECB’s Governing Council’s voting system, which starts rotating“, Bruegel Institute, 25 Ιουλίου. Lithuania will become the 19th member of the Euro area on the 1st of January, following Wednesday’s Council endorsement. The most important part of the story – however – is not that someone is still brave enough to join the Euro …Read More
The EU and an independent Scotland
CER (2014) “The EU and an independent Scotland“, Centre for European Reform Blog, 23 Ιουλίου. Scots living in Scotland vote on September 18th on whether to end their 300-year union with England. If they win, the nationalists aim for actual independence, and full EU membership, in March 2016. Opinion polls currently show a lead for the pro-Union side, but 15 or 20 per cent remain undecided. The debate is …Read More
Βιβλιοθήκη » EE » Πολιτική » Άρθρα Γνώμης
Europe Must Escape A Savings Trap, Not A Liquidity Trap
Terzi, A. (2014) “Europe Must Escape A Savings Trap, Not A Liquidity Trap“, Social Europe Journal, 23 Ιουλίου. The anti-austerity vote in the European elections reflected two different kinds of discontent. One is a feeling of frustration, which is invigorating nationalism: the vote for “less Europe.” The other is a lack of confidence in current EU policies: the vote for “another Europe.” In both cases, voters revealed that they …Read More
Βιβλιοθήκη » EE » Πολιτική » Άρθρα Γνώμης
How Money And Credit Work
Meyer, H. (2014) “How Money And Credit Work“, Social Europe Journal, 23 Ιουλίου. Do you think that in recent years, as a result of the global economic crisis, the whole discussion about public policy has become increasingly focussed on economics? And that much of the policy discussion is based on core concepts that are quite poorly understood, including by many policy-makers? If your answer to these question is yes you are not alone. At …Read More
Juncker’s new start for Europe – a brief summary of past Bruegel research as it relates to Juncker’s new agenda for the European Commission
Dale, E. & Porcaro, G. (2014) “Juncker’s new start for Europe – a brief summary of past Bruegel research as it relates to Juncker’s new agenda for the European Commission“, Bruegel Institute, 23 Ιουλίου. Last week, President Elect Jean-Claude Juncker published his agenda for Europe. To inform the policy debate, we would like to highlight and summarize some of the key research Bruegel scholars have done over the last …Read More
Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments
Tressel, T. & Wang, S. (2014) “Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments“, Working Paper No. 14/130, International Monetary Fund, 22 Ιουλίου. The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shedding. There is so far limited evidence of resource re-allocation from non-tradable …Read More
The Gallic Heart of Europe
Solana, J. (2014) “The Gallic Heart of Europe“, Project Syndicate, 22 Ιουλίου. Europe needs a France that is proud, prosperous, and able to overcome its gloomy suspicions. We need the great country that was and will be – the France that inspired the entire world with its revolution, culture, and values. Alain Peyrefitte, the scholar, politician, and confidant of Charles de Gaulle, said that “without Europe, France will be …Read More
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