IMF (2014) “World Economic Outlook (WEO) Legacies, Clouds, Uncertainties“, International Monetary Fund Publications, Οκτώβριος.   Chapter 3: Is It Time for an Infrastructure Push? Τhe Macroeconomic Effects of Public Investment This chapter finds that increased public infrastructure investment raises output in both the short and long term, particularly during periods of economic slack and when investment efficiency is high. This suggests that in countries with infrastructure needs, the time is …Read More

European Commission (2014) “The 2014 Stability and Convergence Programmes: An Overview“, European Economy, Occasional Papers. 199. Ιούλιος 2014: Brussels.   This paper provides an overview of Member States’ 2014 Stability and Convergence Programmes (SCPs), with a focus on fiscal consolidation plans over 2013-2017. It serves as background for the examination of the SCPs against the requirements of the Stability and Growth Pact – both the corrective and the preventive arm – …Read More

OECD (2014) “Interim Global Economic Assessment“, Economics Department, OECD Economic Surveys, 15 Σεπτεμβρίου: Παρίσι.   A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the euro area, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, according to the OECD’s latest Interim Economic Assessment.       While the global recovery continues at a moderate …Read More

Binder, M. & Coad, A. (2014) “Heterogeneity in the Relationship between Unemployment and Subjective Well-Being, A Quantile Approach“, Explorations in Theory and Empirical Analysis, Working Paper No. 808, Levy Economics Institute, Ιούνιος.   Unemployment has been robustly shown to strongly decrease subjective well-being (or “happiness”). In the present paper, we use panel quantile regression techniques in order to analyze to what extent the negative impact of unemployment varies along the …Read More

European Central Bank (2014) Monthly Bulletin: September, ECB–Eurosystem, Σεπτέμβριος.   Based on its regular economic and monetary analyses, the Governing Council decided at its meeting on 4 September 2014 to lower the interest rate on the main refinancing operations of the Eurosystem by 10 basis points to 0.05% and the rate on the marginal lending facility by 10 basis points to 0.30%. The rate on the deposit facility was lowered …Read More

European Commission (2014) European Competitiveness Report 2014, Commission Staff Working Document SWD(2014)6319 final, Σεπτέμβριος.   The European Competitiveness Report, published annually since 1997, gives a quantitative assessment of the competitive performance of EU industries. It contributes to evidence-based policy-making by looking at knowledge gaps in industrial policy. Therefore it supports microeconomic decision-making at EU and national levels. The Report uses empirical research to examine EU competitiveness, working across the whole …Read More

OECD (2014) OECD Employment Outlook 2014 – Editorial, OECD Publishing.   Both more and better jobs are needed for an inclusive recovery from the crisis More and better jobs are needed to lower unemployment and improve well-being Despite recent improvements, further progress in labour market conditions remains largely dependent upon a broader and sustained economic recovery. Although unemployment has declined in response to renewed job creation, large job gaps remain …Read More

OECD (2014) OECD Employment Outlook 2014, OECD Publishing.   The 2014 edition of the OECD Employment Outlook reviews recent labour market trends and short-term prospects in OECD and key emerging economies. It zooms in on how the crisis has affected earnings, provides country comparisons of job quality, examines the causes and consequences of non-regular employment, and estimates the impact of qualifications and skills on labour market outcomes.   How does GREECE …Read More

Berti, Κ. & Carone, G. (2014) “Assessing Public Debt Sustainability in EU Member States: A Guide“, European Economy, Occasional Papers, 200. Αύγουστος 2014: Βρυξέλλες.   Analysing recent and prospective public debt developments and risks to debt sustainability is crucial for EA countries and the EU as a whole to be able to formulate appropriate policy responses. To this aim, the Commission services (Directorate General for Economic and Financial Affairs) conduct, …Read More