Kirkegaard, F. J. (2014) “The ECB Throws down the Gauntlet“, The Peterson Institute for International Economics, 05 Σεπτεμβρίου. The European Central Bank (ECB) surprised financial markets on September 4 by announcing an interest rate cut of 10 basis points, a new program to purchase asset-backed securities (ABS) in the nonfinancial sector, and another round of purchases of covered bank bonds. The ECB was responding not only to the recent …Read More
Europe’s Center of Power Shifts East
Bershidsky, L. (2014) “Europe’s Center of Power Shifts East“, Bloomberg Views, 04 Σεπτεμβρίου. As Jean-Claude Juncker assumes its presidency, the European Commission — Europe’s de-facto government — will ostensibly be run by representatives of the bloc’s newest, post-Communist members, but there will no longer be a commissioner for EU expansion. Europe needs time to heal, consolidate and reorient itself politically and economically. The reorientation appears to be along unfashionably …Read More
Βιβλιοθήκη » EE » Πολιτική » Άρθρα Γνώμης
Which factors shape the relationship between manufacturing and government wages?
Marzinotto, Β. & Turrini, Α. (2014) “Which factors shape the relationship between manufacturing and government wages?“, VoxEU Organisation, 05 Σεπτεμβρίου. The link between public- and private-sector compensation has important implications for the labour market and price competitiveness. This column reports that manufacturing and government wages co-move both in the long and short run, but that the long-run co-movement is much stronger where the government is an important employer. This …Read More
The discontented members of the Eurozone should consider very seriously the creation of a second euro
Melitz, J. (2014) “The discontented members of the Eurozone should consider very seriously the creation of a second euro“, LSE EUROPP Blog, 04 Σεπτεμβρίου. Since the height of the Eurozone crisis, a number of reforms have been pursued to stabilise the economic situation in states using the single currency. In an interview with EUROPP’s editor Stuart Brown, Jacques Melitz outlines why the Eurozone is still suffering from two key …Read More
An Investment New Deal for Europe
Derviş, Κ. & Saraceno, F. (2014) “An Investment New Deal for Europe“, Brookings Blog, 03 Σεπτεμβρίου. Six years into the crisis, the eurozone remains the sick man of the world economy. Its GDP today is barely at the pre-crisis level, deflation looms and the difference between the healthier core and a struggling periphery is not resolved. Moreover, even Germany may be slowing down, and Finland is in persistent recession. …Read More
Investing for Europe’s Future
Szczurek, M. (2014) “Investing for Europe’s Future“, VoxEU Organisation, 05 Σεπτεμβρίου. The ‘lost decade’ is not a scenario for the EU, it’s the baseline forecast. In this column, Polish Finance Minister Mateusz Szczurek calls for an EU-wide public investment programme of 5.5% of GDP to overcome the constraints behind Europe’s ‘secular stagnation’. He calculates that €700 billion of capital expenditures could close the output gap in the short term …Read More
The political economy of regional policy and industrial location
Wiberg, Μ. (2014) “The political economy of regional policy and industrial location“, VoxEU Organisation, 03 Σεπτεμβρίου. Regional policy is a primary expenditure item for many countries. A substantial share of the regional policy budget is allocated to firms in poor regions. This column argues that electoral concerns and rent-seeking behaviour bias regional policy in favour of smaller regions. However, this bias lowers total welfare. The EU spends €130 billion …Read More
Forget the dodgy numbers: Leaving the EU makes economic sense
Leach, G. (2014) “Forget the dodgy numbers: Leaving the EU makes economic sense“, City A.M. free daily business newspaper, 28 Μαΐου. UKIP’S recent electoral triumph has reignited debate about the cost of Britain’s place in the EU. But what do we know about the economics of our membership? Let’s start from the beginning: we’ll find that Brexit has long made economic sense. Prior to joining the then Common Market …Read More
Βιβλιοθήκη » EE » Πολιτική » Άρθρα Γνώμης
Europe is entering the ‘age of the referendum’, but there is nothing to fear for European democracy if referendums are properly regulated
Tierney, S. (2014) “Europe is entering the ‘age of the referendum’, but there is nothing to fear for European democracy if referendums are properly regulated“, LSE EUROPP, 02 Σεπτεμβρίου. Referendums have become increasingly common occurrences in European states in recent decades. Stephen Tierneywrites on some of the potential benefits and dangers of using referendums to solve key constitutional questions. He writes that while referendums can undermine democracy if used …Read More
The wrong medicine, The Eurozone’s remedies against sluggish growth rates aren’t working. The problem: a misdiagnosis of the illness
De Grauwe, P. (2014) “The wrong medicine, The Eurozone’s remedies against sluggish growth rates aren’t working. The problem: a misdiagnosis of the illness“, The European Magazine, 26 Αυγούστου. At the start of 2014 there was some hope that the economic recovery in the Eurozone would gather momentum. This hope has dissipated as the year has progressed. The slow growth in the Eurozone has become endemic since the start of …Read More