Alcidi, Cinzia, Barslund, Mikkel, Busse, Matthias, Nicoli, Francesco, (2016), “Will a European unemployment benefits scheme affect labour mobility?”, CEPS, 6 Δεκεμβρίου Labour mobility in the EU is comparatively low, despite major efforts from the European Institutions to support cross-border mobility. This study evaluates the potential implications of a European Unemployment Benefits Scheme (EUBS) for labour mobility in the EU. We find that the introduction of an EUBS, irrespective of whether …Read More

Campos, Nauro, El Aynaoui, Karim, Loungani, Prakash, (2016), “European unemployment and labour market reforms: A two-handed approach”, VoxEu, 5 Δεκεμβρίου Thirty years ago, a distinguished group of economists advocated a ‘two-handed’ approach to unemployment that targeted supply as much as demand. This column examines recent work on the effectiveness of cyclical and structural policies – the two ‘hands’ – targeting unemployment in Europe. It further considers the pressures from greater …Read More

Dirk Schoenmakert, (2016), “The impact of the legal and operational structures of euro-area banks on their resolvability”,  Bruegel, 6 Δεκεμβρίου Following the financial crisis, the question of how to handle a big bank’s collapse has come to the fore. This Policy Contribution evaluates the obstacles to resolvability that the legal and operational structures of the large euro-area banks could pose to the European Union’s new resolution regime. Σχετικές Αναρτήσεις De …Read More

Vives, Xavier, (2016), “Banking regulatory reform: The way forward”, VoxEu, 6 Δεκεμβρίου As with previous systemic crises, the 2007-2009 crisis has created regulatory reform, but is it adequate? This column argues that prudential regulation should consider interactions between conduct – capital, liquidity, disclosure requirements, macroprudential ratios – and structural instruments, and also coordinate with competition policy. Though recent reforms are a welcome response to the recent crisis, we do not …Read More

Cournède, Boris, Denk, Oliver, Garda, Paula, Hoeller, Peter, (2016), “Enhancing Economic Flexibility: What Is in It for Workers?”, OECD Economic Policy Paper No. 19, November Reforms that boost growth by enhancing economic flexibility often meet strong opposition related to concerns that they may imply adverse consequences for categories of workers. This study investigates how making product or labour market regulation more flexible changes workers’ risks of moving out of employment …Read More

Thomadakis, Apostolos, (2016), “Nothing ventured, nothing gained: How the EU can boost growth in small businesses and start-ups”, CEPS, 30 Νοεμβρίου Venture capital can be a lifeline to innovative and growth-oriented start-ups and small businesses in need of external capital. In this ECMI Research Report, the author argues that the recently proposed changes to the Regulation on European Venture Capital Funds (EuVECA) fail to address three important issues that could …Read More

Chavaz, Matthieu, Flandreau, Marc, (2016), “Liquidity in government bonds – from the British Empire to the Eurozone”, VoxEu, 1 Δεκεμβρίου Between 1870 and 1914, 68 countries – both sovereign and British colonies – used the London Stock Exchange to issue bonds. This column argues that bond prices and spreads in this period show that the colonies’ semi-sovereignty lowered credit risk at the price of higher illiquidity risk, and further worsened …Read More

Lehmann, Alexander, (2016), “Can public support help Europe build distressed asset markets?”, Bruegel, 29 Νοεμβρίου Distressed asset investors can relieve banks of their NPL overhang and offer valuable restructuring expertise, although banks will need to realise a further valuation loss. Regulators could do a lot to support the growth of this market. Σχετικές Αναρτήσεις Panagiotarea, Eleni, (2016), “The Political Economy of NPLs resolution: Ownership and conditionality”, Hellenic Observatory LSE, 13 …Read More

Demertzis, Maria, B.Wolff, Guntram, (2016), “What impact does the ECB’s quantitative easing policy have on bank profitability?”, Bruegel, 30 Νοεμβρίου This Policy Contribution shows that the effect of the ECB’s QE programme on bank profitability has not yet had a dramatically negative effect on bank operations. Σχετικές Αναρτήσεις Hüttl, Pia, Merler, Silvia, (2016), “An update: Sovereign bond holdings in the euro area – the impact of QE”, Bruegel, 22 Νοεμβρίου S. …Read More

Buti, Marco, Rodríguez Muñoz, Lucía, (2016), “Why we need a positive fiscal stance for the Eurozone and what it means”, VoxEu, 28 Νοεμβρίου With growth still weaker than is desirable and challenges originating from geopolitical developments further complicating the economic outlook, responsible growth-friendly fiscal policy needs to play a bigger role in supporting demand in the Eurozone today. This column presents a new European Commission Communication on Eurozone fiscal policy, …Read More