Credit Suisse, (2016), “The Global Wealth Report 2016”, Research Institute, Νοέμβριος The seventh edition of the Credit Suisse Research Institute’s Global Wealth Report confirms a course of the weak global wealth growth. In the past 12 months, global wealth has risen by 3.5 trillion dollars to 256 trillion dollars, which represents an increase of 1.4 percent. However, wealth creation has merely kept pace with population growth. As a result, in 2016, …Read More
Christodoulakis, Nicos, (2016), “Aspects of Economic Governance in the Euro Area: Restoring Internal and External Balances”, Rivisteweb, 3 Δεκεμβρίου The Economic Governance for the Euro Area is envisaged to be both an overseeing framework that enables the timely identification of oncoming trouble, as well as a correction mechanism that puts an economy hit by major shocks back in order. The paper discusses the relevance of prevention and correction mechanisms, and finds …Read More
Pasimeni, Paolo, Riso, Stéphanie, (2017),“An assessment of the redistributive function of the EU budget”, VoxEu, 19 Ιανουαρίου EU budget reform is a key issue in policy debates, in particular the redistributive effects between member states. This column assesses redistribution within the EU budget over the period 2000 to 2014. It finds that the net redistributive impact of the EU budget is rather small and, contrary to common belief, that the …Read More
Minenna, Marcello, (2017), “Italy 2017: Back To Austerity”, Social Europe, 19 Ιανουαρίου The political turmoil that followed the Renzi government’s resignation after the results of Italy’s referendum on constitutional reforms, the hurried appointment of the new executive and the endless emergency of Monte dei Paschi overshadowed the letter that the European Commission sent on December 5th to the outgoing administration. In concise terms, the letter confirmed what was already in …Read More
Giugliano, Ferdinando, Odendahl, Christian, (2016), “Europe’s Make-or-Break country: what is wrong with Italy’s economy?”, Centre for European Reform, 19 Δεκεμβρίου After Matteo Renzi lost his referendum on constitutional reform and resigned, Italy returned to the European spotlight. Although it is a founding member of the EU, Italian public support for the European project is among the lowest in Europe; it is the eurozone’s third largest economy, but its economy is …Read More
Merler, Silvia, (2017), “The economic effects of migration”, Bruegel, 16 Ιανουαρίου What’s at stake: migration is currently a very hot topic in both the US and the EU. Immigration issues have come to the forefront due to the problem of rapidly ageing populations, the refugee crisis, and growing anti-immigration political rhetoric. But what do we know about the economic effects of migration? Σχετικές Αναρτήσεις Bertoncini, Yves, De Geus, Aart, Niblett, Robin, Styczynska, Izabela, Gastaldo, Piero, …Read More
Blanke, Jennifer, Krogstrup, Signe, (2016), “Negative interest rates: absolutely everything you need to know”, World Economic Forum, 2 Νοεμβρίου Since the great recession, a large number of advanced economies have been stuck with low growth and low levels of investment and inflation. Attempting to regain growth, central banks have taken increasingly forceful monetary measures. Of these, perhaps the most controversial and least understood is negative interest rates. The central bank of …Read More
Hassan, Fadi, di Mauro, Filippo, I.P. Ottaviano, Gianmarco, (2016), “Banks Credit and Productivity Growth in the EU”, European Investment Bank Working Papers 2016/05, 20 Δεκεμβρίου Financial institutions are key to allocate capital to its most productive uses. In order to examine the relationship between bank credit and firm-level productivity in the context of different financial markets set-ups, we introduce a model of overlapping generations of entrepreneurs under complete and incomplete credit …Read More
Cheng, Gong, Diaz-Cassou, Javier, Erce, Aitor, (2016), “From Debt Collection to Relief Provision: 60 Years of Official Debt Restructurings through the Paris Club”, European Stability Mechanism, 22 Δεκεμβρίου Despite the frequency of official debt restructurings, little systematic evidence has been produced on their characteristics and implications. Using a dataset covering more than 400 Paris Club agreements, this paper aims to fill that gap. It provides a comprehensive description of the …Read More
Lin Chong, Eilyn Yee, Mody, Ashoka, Varela Sandoval, Francisco, (2017), “Finance and growth: The direction of causality”, VoxEu, 17 Ιανουαρίου Recent research suggests a point beyond which the benefits of financial development diminish, and further development can even hurt growth. This column describes how a negative relationship between credit and growth emerged strongly after 1990 and was particularly pronounced in the Eurozone, consistent with the notion that an overgrown financial sector weakens …Read More
