Turner, Adair, (2015), “Why We Need More Radical Policies To Kickstart Global Growth”, Social Europe Journal, 7 Οκτωβρίου For two years, financial markets have repeated the same error – predicting that US interest rates will rise within about six months, only to see the horizon recede. This serial misjudgment is the result not of unforeseeable events, but of a failure to grasp the strength and global nature of the deflationary …Read More

Bloomberg View, (2015), “Europe’s Robin Hood Tax Is a Risky Proposal”, 5 Οκτωβρίου It has been called a Robin Hood tax (a term favored by acolytes of British Labour leader Jeremy Corbyn) and a Tobin Tax, after the Yale economist James Tobin who popularized it. Whatever the name, a tax on financial transactions first proposed in 1936 by John Maynard Keynes may soon become a reality in 11 European countries. Σχετικές …Read More

Acharya, Viral, Cecchetti, Stephen, De Gregorio, José, Kalemli-Ozcan, Sebnem, R. Lane, Philip, Panizza, Ugo, (2015), “Emerging economy corporate debt: The threat to financial stability”, Voxeu, 5 Οκτωβρίου Emerging market firms have borrowed in foreign currency to take advantage of low interest rates. This column argues that when the Fed inevitably raises rates, such borrowing will be a threat to emerging economy financial systems. Yet so long as authorities use their existing prudential tools wisely, the risks appear manageable. Σχετικές Αναρτήσεις Boughton, …Read More

Ruparel, Raoul, (2015), “Commission eyes pragmatic steps towards Capital Markets Union”, Open Europe, 30 Σεπτεμβρίου The European Commission has today released its detailed “Action Plan” for the creation of a Capital Markets Union (CMU). Open Europe’s Raoul Ruparel assess what is and what is not included in the plans. Σχετικές Αναρτήσεις Wolff, Guntram and Veron Nicolas, (2015) “Capital Markets Union: a vision for the long term”, 24 Απριλίου. Louri-Dendrinou, Ε. …Read More

Hausmann, Ricardo, (2015), “Don’t Fear the IMF”, Project Syndicate, 28 Σεπτεμβρίου The International Monetary Fund is, in many places, the organization that everybody loves to hate. According to some, the IMF is bad for the poor, women, economic stability, and the environment. Joseph Stiglitz, whose influence is amplified by his Nobel Prize, blames the IMF for causing and then worsening the economic crises it was called on to resolve. The …Read More

Burda, Michael, (2015), “Dispelling three myths on economics in Germany”, Voxeu publications, 23 Σεπτεμβρίου Many analysts believe that German economists hold a very different view of macroeconomics. This column presents a personal view why this belief is wrong. The fact that Europe still consists of sovereign nations and that most Europeans still want to keep it that way informs much of what happens inside German economists’ heads. Σχετικές Αναρτήσεις Heise, Michael, …Read More

Kaletsky, Anatole, (2015), “Why the Fed Buried Monetarism”, Project Syndicate, 22 Σεπτεμβρίου The US Federal Reserve’s decision to delay an increase in interest rates should have come as no surprise to anyone who has been paying attention to Fed Chair Janet Yellen’s comments. The Fed’s decision merely confirmed that it is not indifferent to international financial stress, and that its risk-management approach remains strongly biased in favor of “lower for …Read More

Dietsch, Peter, (2015), “Common rules (not rates) should be the answer to tax competition in the EU”, LSE blog, 23 Σεπτεμβρίου The creativity of rich individuals and their tax advisors to hide private wealth in tax havens such as Switzerland or the Isle of Man knows hardly any bounds. Just as unethical, though often legal, are the multiple techniques multinational corporations use to shift profits to low-tax jurisdictions such as Luxembourg. …Read More