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European election’s winners and losers

Ryan Heath, (2019), «European election’s winners and losers», Politico, 27 Μαϊου This European election was not a contest with an overarching continental narrative, but a series of national and regional battles. For the two main party groupings in the European Parliament (each losing seats and with less than a quarter of the vote), there will be relief that the results were not worse than they turned out. Here’s POLITICO’s guide …Read More

How Inflation Could Return

Mohamed A. El-Erian, (2019), «How Inflation Could Return», Project Syndicate, 22 Μαϊου After years of low inflation, investors and policymakers have settled into a cyclical mindset that assumes advanced economies are simply suffering from insufficient aggregate demand. But they are ignoring structural factors at their peril. Σχετικές Αναρτήσεις Barry Eichengreen, (2019), «The Return of Fiscal Policy», Project Syndicate, 13 Μαϊου Daniel Gros, (2019), «Who’s Afraid of Low Inflation?», Project Syndicate, 9 …Read More

Public debt and the risk premium: A dangerous doom loop

Cinzia Alcidi and Daniel Gros, (2019), «Public debt and the risk premium: A dangerous doom loop», VoxEU, 23 Μαϊου The relationship between high public debt and low interest rates is once again at the forefront of debate.This column shows that countries with high debt levels pay a risk premium. This creates the potential for self-reinforcing loops of high debt and high risk premia, which can become explosive. Σχετικές Αναρτήσεις Giancarlo …Read More

Χάσμα μεταξύ Βορρά, Νότου αποτυπώνουν οι αποταμιεύσεις

Η Καθημερινή, (2019), «Χάσμα μεταξύ Βορρά, Νότου αποτυπώνουν οι αποταμιεύσεις», 23 Μαϊου Λίγες είναι οι χώρες που μπορούν να συγκριθούν με τη Σουηδία. Σχεδόν όλοι οι πολίτες της σκανδιναβικής χώρας επενδύουν τμήμα των αποταμιεύσεών τους σε αμοιβαία κεφάλαια, επιβεβαιώνοντας πως η πρόνοια δεν είναι μόνον προτέρημα του κρατικού μηχανισμού αλλά είναι και χαρακτηριστικό των πολιτών. Η κρίση χρέους στην Ευρωζώνη έδειξε πως τα νοικοκυριά των ευρωπαϊκών χωρών διαφέρουν αρκετά στον …Read More

How to improve European Union cohesion policy for the next decade

Zsolt Darvas, Jan Mazza and Catarina Midoes, (2019), «How to improve European Union cohesion policy for the next decade», Bruegel Policy Contribution No 8, Μάιος The academic literature on the effectiveness of the European Union’s cohesion policy is inconclusive: some studies find positive long-term impacts, others find positive but only short-term impacts, while others find no or even negative impacts. This range of results arises from major complicating factors, related …Read More

Prudential regulation, national differences and banking stability

Angela Maddaloni and Alessandro Scopelliti, (2019), «Prudential regulation, national differences and banking stability», ECB Research Bulletin No. 58, 23 Μαϊου What role does prudential regulation play in the prevention of banking crises? Before the financial crisis there were important national differences in the implementation of the EU framework for capital regulation. This article suggests that these differences had important implications for the resilience of banks during the crisis and that, …Read More

The EU’s Four Challenges

Ana Palacio, (2019), «The EU’s Four Challenges», Project Syndicate, 22 Μαϊου Whatever the next European Parliament’s composition, the imperative will be the same: EU institutions must trade ambition for humility, focusing their attention not on their own power or status, but rather on upgrading and fortifying the project for which they claim to stand. If they fail, the road ahead will only become more perilous. Σχετικές Αναρτήσεις Gros, Daniel (2019), …Read More

Portugal’s lonely populists

Paul Ames, (2019), «Portugal’s lonely populists», Politico, 21 Μαϊου The populist wind blowing across Europe seems to have run out of puff in western Portugal. A new radical-right party pledging to shake up Portuguese politics went campaigning in the streets of this blue-collar city late last week. By the time the party leader arrived, just 14 people had turned up. Σχετικές Αναρτήσεις Karl Aiginger, (2019), «Populism: Roots, consequences, and counter …Read More

A heterogenous response to unconventional monetary policy

Anne-Laure Delatte, Pranav Garg and Jean Imbs, (2019), «A heterogenous response to unconventional monetary policy», VoxEU, 21 Μαϊου The ECB’s unconventional monetary policy package implemented in February 2012 changed collateral requirements. This column examines the effects in the French credit market, using data on corporate loans. Credit indeed increased after the liquidity injection, exclusively driven by supply. There was also strategic risk-taking by a group of banks, an unintentional implication …Read More

H διαμάχη ΗΠΑ, Κίνας πλήττει τις ευρωπαϊκές επιχειρήσεις

Η Καθημερινή, (2019), «H διαμάχη ΗΠΑ, Κίνας πλήττει τις ευρωπαϊκές επιχειρήσεις», 21 Μαϊου Ο ΟΟΣΑ προειδοποιεί πως ο σινοαμερικανικός εμπορικός πόλεμος αποτελεί «εχθρό της ανάπτυξης» και, όπως φαίνεται, η διένεξη ανάμεσα στις δύο μεγαλύτερες οικονομίες του κόσμου πλήττει όχι μόνον τις ίδιες αλλά και τις ευρωπαϊκές επιχειρήσεις που δραστηριοποιούνται στην Κίνα. Σχετικές Αναρτήσεις naftemporiki.gr, (2019), «Η Ευρώπη στα «χαρακώματα» λόγω εμπορικού πολέμου», 11 Μαϊου Ζωρζετ Ζολώτα, (2019), «Η Ευρωζώνη σε …Read More