Go to Top


The great fiscal lever: An Italian economic obsession

A. Terzi, (2018), «The great fiscal lever: An Italian economic obsession», 21 Αυγούστου “Give me a fulcrum and a lever long enough, and I shall move the world” – so the great Greek mathematician Archimedes used to say. In the Italian macroeconomic context, many are similarly convinced that if only we pushed more on the fiscal lever, we could set in motion an economy that has stagnated for almost 20 …Read More

Delivering a safe asset for the euro area: A proposal for a Purple bond transition

Bini-Smaghi L., M. Marcussen, (2018), «Delivering a safe asset for the euro area: A proposal for a Purple bond transition», Vox EU, 20 Ιουλίου Eurobonds are today politically unfeasible… Genuine Eurobonds with joint and several liability would bring significant benefits and stability to the euro area. Top of this list is credibility, further cementing that the euro is here to stay. Such an instrument would also price counter-cyclically as investors …Read More

The EMU quest for integration: What does the ECB’s collateral data tell us?

Macchiarelli, C. & Monti, M., (2018), «The EMU quest for integration: What does the ECB’s collateral data tell us?», LSE EUROPP, Ιούλιος Quantitative easing (QE) has been the monetary policy innovation tool of the 21st century. With the global economic recovery now seemingly robust, the challenge facing policymakers is how to reverse this exceptional monetary policy stimulus. The Fed has already started, whereas the ECB recently announced that its quantitative …Read More

Monetary policy and household inequality

ECB (2018), «Monetary policy and household inequality», working paper series no. 2170, Ιούλιος The impact of monetary policy, and specifically quantitative easing, on inequality has recently come to public attention. For example, commentators have pointed out that a prolonged reduction in policy interest rates can generate an income loss for savers holding interest-bearing assets, or that expansionary measures supporting financial asset prices are especially beneficial for the savers holding those …Read More

Πώς Η Εξωστρέφεια Έσωσε Την Πορτογαλία

Μ. Μητσος, (2018), «Πώς Η Εξωστρέφεια Έσωσε Την Πορτογαλία», Διανέοσις, Ιούλιος Η σύγχρονη περιπέτεια της Πορτογαλίας ξεκίνησε τον Μάιο του 2011 με την είσοδό της στο μνημόνιο. Το υπέγραψαν τόσο οι Σοσιαλιστές, που αποχωρούσαν από την εξουσία, όσο και οι Σοσιαλδημοκράτες (αυτό είναι το όνομα του κόμματος, το οποίο είναι όμως κεντροδεξιό), που αναλάμβαναν τα ηνία μαζί με το συντηρητικό CDS. Τα βασικά προβλήματα της πορτογαλικής οικονομίας ήταν η απώλεια …Read More

Four out of five recent graduates find a job

Eurostat/Four out of five recent graduates find a job/15 Ιουλίου 2018 In 2017, over 80% of recent graduates in the EU were employed. This is the fourth consecutive year that the rate of employment for recent graduates has risen, reversing the decrease seen between 2008 and 2013. Recent graduates refer to people aged 20-34, who are not in education and training, and who completed their education at most three years …Read More

The roles of economic integration and monetary policy in currency unions

A. Bertasiute, D. Massaro, M. Weber, (2018), «The roles of economic integration and monetary policy in currency unions», VoxEU, 7 Ιουλίου Macroeconomics has often been criticised for assuming rational expectations. Indeed, the assumption that all firms and consumers in an economy form their expectations in full awareness of all information and all underlying relationships in the economy is extremely unrealistic. Therefore, economists have started building macroeconomic models that are based …Read More

Currency unions mean more trade, but not for everyone

Natalie Chen, Dennis Novy, (2018), «Currency unions mean more trade, but not for everyone», VoxEU, 9 Ιουλίου Currency unions are an important institutional arrangement to facilitate international trade and reduce trade costs. In the period since WWII, a total of 123 countries have been involved in a currency union at some point. By the year 2015, 83 countries continued to be involved in one. In addition, various countries are considering …Read More

Assessing the macroeconomic impact of the EIB Group

European Investment Bank, (2018), «Assessing the macroeconomic impact of the EIB Group», Ιούνιος RHOMOLO is a recursively dynamic spatial computable general equilibrium model. It has been developed and maintained by the regional economic modelling team at the European Commission’s Directorate-General Joint Research Centre (DG JRC) in cooperation with the Directorate-General for Regional and Urban Policy (DG REGIO). It is used for policy impact assessment and provides sector-, region- and time-specific …Read More

Cryptocurrencies and monetary policy

G. Claeys, M. Demertzis & K. Efstathiou, (2018), «Cryptocurrencies and monetary policy», Bruegel, 28 Ιουνίου This Policy Contribution tries to answer two main questions: can cryptocurrencies acquire the role of money? And what are the implications for central banks and monetary policy? Money is a social institution that serves as a unit of account, a medium of exchange and a store of value. With the emergence of decentralised ledger technology …Read More