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Βιβλιοθήκη

Youth unemployment produces multiple scarring effects

McQuaid, Ronald, (2017), “Youth unemployment produces multiple scarring effects”, EUROPP, 18 Φεβρουαρίου There are lots of problems with analysing the causes and effects of such long-term scarring and the reasons for it appear inter-connected. For instance wellbeing and mental health may affect subsequent income and chances of getting and keeping a job, but are themselves influenced by unemployment. Some broad overlapping reasons for scarring include: (1) employer responses, (2) the person’s human …Read More

Banks, Firms, and Jobs

Presbitero, Andrea, Berton, Fabio, Richiardi, Matteo, Mocetti, Sauro, (2017), “Banks, Firms, and Jobs”, IMF Working Paper No. 17/38, 14 Φεβρουαρίου We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit …Read More

Only Germans Love the Euro These Days

Paul, Jean-Michel, (2017), “Only Germans Love the Euro These Days”, BloombergView, 17 Φεβρουαρίου Political support for the single currency has been waning — especially in Germany’s two largest euro-zone trading partners. In both France and Italy, there is now a plurality of support for candidates who advocate a withdrawal from the euro, with pro-euro candidates gathering less than 30 percent in polls. Σχετικές Αναρτήσεις Merler, Sylvia, (2017), “Is Germany a currency …Read More

20 δισ. ευρώ από Ρώμη για διάσωση τραπεζών

Καθημερινή, (2017), “20 δισ. ευρώ από Ρώμη για διάσωση τραπεζών”, 17 Φεβρουαρίου Στο πλαίσιο των προσπαθειών που καταβάλλει η Ιταλία για να εξυγιάνει τον τραπεζικό της κλάδο, ο οποίος έχει πληγεί από τα «κόκκινα» δάνεια, η ιταλική Βουλή ενέκρινε κεφάλαιο ύψους 20 δισ. ευρώ για τη διάσωση των προβληματικών χρηματοπιστωτικών ιδρυμάτων της. Σχετικές Αναρτήσεις Καραγιάννης, Κώστας, (2016), “Κρατική διάσωση για την Monte Paschi”, Καθημερινή, 23 Δεκεμβρίου Merler, Silvia, (2016), “An …Read More

Portugal needs stronger investment to maintain growth and improve living standards

Arnold, Jens, (2017),“Portugal needs stronger investment to maintain growth and improve living standards”, Portugal Desk, OECD Economics Department, 6 Φεβρουαρίου Since 2012, investment has hardly exceeded the depreciation of the existing capital stock, meaning that growth of the productive capital stock has almost stalled. This is one reason behind the low potential growth of the Portuguese economy, which the OECD currently puts below 0.5%. Without stronger investment, growth performance is bound to …Read More

The Financial Education of the Eurozone

Smart, Christopher ,(2017), “The Financial Education of the Eurozone”, Project- Syndicate, 14 Φεβρουαρίου Europe’s banks have long been central to the continent’s economy. In France and Germany, bank assets amount to 350-400% of GDP, whereas in the United States, they are equal to just over 100% of GDP. After the 2008 financial crisis, the eurozone’s weakest banks quickly buckled under the weight of their bad loans, and then threatened to …Read More

Inflation’s comeback

Huttl, Pia, (2017), “Inflation’s comeback”, Bruegel, 13 Φεβρουαρίου Before the financial crisis, a standard assumption was that the southern peripheral countries were on a path to converge their income per capita to northern levels, and as such, through Balassa-Samuelson effects (describing how increase in traded-goods-sector productivity in the South bids up the price of non-traded goods there, relative to abroad), experiencing faster inflation. The ‘below, but close to’ 2% target of the …Read More

High frequency trading and fragility

Cespa, Giovanni, Vives, Xavier, (2017), “High frequency trading and fragility”, ECB Working Paper Series No 2020, Φεβρουάριος We show that limited dealer participation in the market, coupled with an informational friction resulting from high frequency trading, can induce demand for liquidity to be upward sloping and strategic complementarities in traders’ liquidity consumption decisions: traders demand more liquidity when the market becomes less liquid, which in turn makes the market more illiquid, …Read More

The impact of constrained monetary policy on the fiscal multipliers on output and inflation

Bletzinger, Tilman, Lalik, Magdlena, (2017), “The impact of constrained monetary policy on the fiscal multipliers on output and inflation”, ECB Working Paper Series No 2019, Φεβρουάριος As a consequence of rising debt-to-GDP ratios in several euro area member states, the euro area as a whole is going through a period of significant fiscal consolidation. At the same time it observes a prolonged period of low inflation combined with a binding zero …Read More

Feasibility and Added Value of a European Unemployment Benefits Scheme

Beblavy, Miroslav, (2017), “Feasibility and Added Value of a European Unemployment Benefits Scheme”, CEPS, 10 Φεβρουαρίου This CEPS e-Book presents the final report of a comprehensive project on the Feasibility and Added Value of a European Unemployment Benefits Scheme, initiated by the European Parliament and commissioned by the European Commission, Directorate-General for Employment, Social Affairs and Inclusion. The aim of the study is to assess the legal and operational feasibility …Read More