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The Re-Division of Europe

Papantoniou, Y., (2013), “The Re-Division of Europe”, Project Syndicate, 06 December. As the eurozone debt crisis has steadily widened the divide between Europe’s stronger northern economies and the weaker, more debt-laden economies in the south (with France a kind of no man’s land economy in between), one question is on everyone’s mind: Can Europe’s monetary union – indeed, the European Union itself – survive? While the eurozone’s northern members enjoy …Read More

Unemployment Likely to Continue to Decline

Barnichon, R., (2013), “Unemployment Likely to Continue to Decline; Don’t Read Much into October Employment Report”, Brookings, Brookings on Job Numbers Blog, 05 December. This post discusses my monthly update of the Barnichon-Nekarda model.  For an introduction to the basic concepts used in this post, read my introductory post (Full details are available here.) In September, the unemployment rate increased to 7.3%, 0.2 percentage points higher than the model had …Read More

Greece’s Reforms Have Only Cracked the Surface

Hatzis, A., (2013), “Greece’s Reforms Have Only Cracked the Surface”, The Wall Street Journal, 05 December. Last week Ángel Gurría, the secretary-general of the Organization for Economic Co-operation and Development, visited Athens to present the OECD’s latest economic survey of Greece. Since 2010, the report said, Greece “has made impressive headway in cutting its fiscal and external imbalances and implementing structural reforms to raise labor market flexibility and improve labor …Read More

Οικονομικά της Εργασίας: Ανάλυση Ατελών Αγορών

Boeri, T. και Van Ours, J., (2013), Οικονομικά της Εργασίας: Ανάλυση Ατελών Αγορών, Αθήνα: Εκδόσεις Κριτική. Το βιβλίο εξετάζει τους διάφορους παράγοντες –κατώτατος μισθός, νομοθεσία, ενεργές πολιτικές της αγοράς εργασίας, συλλογική διαπραγμάτευση, προγράμματα πρόωρης συνταξιοδότησης, εκπαιδευτικές και μεταναστευτικές πολιτικές– που επηρεάζουν εργαζόμενους και εργοδότες στις ατελείς αγορές εργασίας. Οι συγγραφείς ορίζουν και αξιολογούν προσεκτικά τους θεσμούς που σχετίζονται με τα Οικονομικά της εργασίας και αναλύουν την επίδραση των πολιτικών και …Read More

An Agenda to Save the Euro

Stiglitz, J., (2013), “An Agenda to Save the Euro”, Project Syndicate, 04 December. It has been three years since the outbreak of the euro crisis, and only an inveterate optimist would say that the worst is definitely over. Some, noting that the eurozone’s double-dip recession has ended, conclude that the austerity medicine has worked. But try telling that to those in countries that are still in depression, with per capita …Read More

Corruption Perceptions Index 2013

Transparency International, (2013), “Corruption Perceptions Index 2013”, Transparency International, Δεκέμβριος. The Corruption Perceptions Index 2013 serves as a reminder that the abuse of power, secret dealings and bribery continue to ravage societies around the world.  The Index scores 177 countries and territories on a scale from 0 (highly corrupt) to 100 (very clean). No country has a perfect score, and two-thirds of countries score below 50. This indicates a serious, …Read More

The Continued Relevance of Tax-backed Bonds in a Post-OMT Eurozone

Pilkington, P., (2013), “The Continued Relevance of Tax-backed Bonds in a Post-OMT Eurozone”, Levy Economics Institute, Policy Note 2013/10, December. In a policy note published last year by the Levy Institute, the present author and Warren Mosler argued that the eurozone sovereign debt crisis could be solved by national governments without the assistance of the European Central Bank (ECB) and without leaving the currency union. We argued that this could …Read More

The Faux European Recovery and Youth Unemployment

Weeks, J., (2013), “The Faux European Recovery and Youth Unemployment”, Social Europe Journal, 03 December. Suddenly the media is a buzz with the prospect of a recovery in the euro zone.  After four grim years of contracting GDP, unemployment and falling real wages, we read that country after country has turned the corner. Austerity worked and now we can reap the benefits. Before we become too overjoyed, it is worth …Read More

The 2013 Euro Plus Monitor: From Pain to Gain

Schmieding, H. and Schulz, C., (2013), “The 2013 Euro Plus Monitor: From Pain to Gain”, The Lisbon Council, Policy Brief, Volume III, No.1,  December. If the eurozone and its 17 members stay the course, the systemic crisis that has rocked Europe since 2010 could be largely over by mid-2014. That is the principal conclusion of The 2013 Euro Plus Monitor: From Pain to Gain, the premiere competitiveness ranking published each …Read More

Financial crisis, austerity, and health in Europe

Karanikolos, Μ., Mladovsky, P., Cylus, J., Thomson, S., Basu, S., Stuckler, D., Mackenbach, J. and McKee M., (2013), “Financial crisis, austerity, and health in Europe”, The Lancet, 381(9874): 1323-1331. The financial crisis in Europe has posed major threats and opportunities to health. We trace the origins of the economic crisis in Europe and the responses of governments, examine the effect on health systems, and review the effects of previous economic …Read More