This site is for archive purposes. Please visit www.eliamep.gr for latest updates
Go to Top

Βιβλιοθήκη

Strengthening Economic Resilience: Insights From The Post-1970 Record Of Severe Recessions And Financial Crises

Caldera-Sánchez, Aida , de Serres,  Alain, Gori, Filippo, Hermansen, Mikkel, Röhn, Oliver, (2017), “Strengthening Economic Resilience: Insights From The Post-1970 Record Of Severe Recessions And Financial Crises”, OECD, December 2016 No. 20, Φεβρουάριος The global financial crisis marked a turning point for the assessment of macroeconomic risks in developed countries. Following a period characterised by positive growth dynamics and overall macroeconomic stability, the 2008-09 economic turmoil served as a powerful reminder …Read More

Low inflation in the euro area: Causes and consequences

Ciccarelli, Matteo, Osbat, Chiara, (2017), “Low inflation in the euro area: Causes and consequences”, ECB Occasional Paper Series No 181, Ιανουάριος This paper investigates the causes and consequences of low inflation in the euro area after 2012 and analyses whether monetary policy has been successful in dampening the risks associated to low inflation. The paper finds that the missing inflation was primarily due to cyclical factors – domestic in the earlier part …Read More

Bank competition and financial stability: The role of financial innovation

Marques-Ibanez,David, van Leuvensteijn, Michiel, (2017), “Bank competition and financial stability: The role of financial innovation”, VoxEu, 3 Φεβρουαρίου An unprecedented process of deregulation took place in the banking sector in the three decades prior to the Global Crisis. This column argues that during periods of intense bank competition, financial innovation can compound the adverse effects of competition on stability. Coupled with strong competition, the significant use of one such innovation – …Read More

Euro area fiscal stance

Bańkowski,Krzysztof, Ferdinandusse, Marien, (2017), “Euro area fiscal stance”, ECB Occasional Paper Series No 182, Ιανουάριος This paper analyses the appropriateness of the euro area fiscal stance. In this context, the paper presents the relevant definitions and how the euro area fiscal stance has evolved over time. Furthermore, it contains an evaluation of the appropriateness of the euro area aggregated fiscal stance set out in the European Commission’s Spring 2016 European Economic Forecast, …Read More

Reducing the uncertainty around exchange rate forecasts: A new model

Marcellino, Massimiliano, Abbate, Angela, (2017), “Reducing the ucnertainty around exchange rate forecasts: A new model”, VoxEu, 4 Φεβρουαρίου Exchange rates are important contributors to business cycle fluctuations in open economies. Forecasting exchange rates is not an easy task, however, perhaps due to the instability of their relationship with economic drivers. This column introduces a model that also allows for changing volatility when forecasting exchange rates. Modelling time variation in the cross-rate …Read More

Why is it so hard to reach the EU’s ‘poverty’ target?

Darvas, Zsolt, (2017), “Why is it so hard to reach the EU’s ‘poverty’ target?”, Bruegel, 19 Ιανουαρίου The ‘poverty’ target set by the European Commission aims to lift “over 20 million people out of poverty” between 2008 and 2020 in the EU27. Progress to date against this target has been disappointing. Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure? …Read More

Aspects of Economic Governance in the Euro Area: Restoring Internal and External Balances

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

Banks Credit and Productivity Growth in the EU

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

From Debt Collection to Relief Provision: 60 Years of Official Debt Restructurings through the Paris Club

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

Non-Performing Loans In The Euro Area: Are Core-Periphery Banking Markets Fragmented?

Anastasiou, Dimitrios , Louri, Helen, Tsionas, Mike, (2017), “Non-Performing Loans In The Euro Area: Are Core-Periphery Banking Markets Fragmented?”, Bank Of Greece, Δεκέμβριος 2016 The objective of this study is to examine the causes of non-performing loans (NPLs) in the banking system of the euro area for the period 2003-2013 and distinguish between core and periphery country determinants. The increase in NPLs post crisis has put into question the robustness …Read More