Pestieau, Pierre, Ponthiere, Gregory, (2016), “The public economics of long term care”, Centre for Economic Policy Reseach, Ιούνιος With the rapid increase in LTC needs, the negligible role of the market and the declining role of informal family care, one would hope that the government would take a more proactive role in the support of dependent elderly, particularly those who cannot, whatever the reason, count on assistance from their family. The …Read More

Chemla, Gilles, Hennessy, Christopher, (2016), “Government as Borrower of First Resort”, Centre for Economic Policy Research, Ιούνιος We examine optimal provision of riskless government bonds under asymmetric information and safe asset scarcity. Paradoxically, corporations have incentives to issue junk debt precisely when intrinsic demand for safe debt is high since uninformed investors then migrate to risky overheated debt markets. Uninformed demand stimulates informed speculation which drives junk debt prices closer to fundamentals, encouraging …Read More

Detragiache, Enrica, Natal, Jean-Marc, Pereira, Joana, (2016), “Growing Older: Germany Needs Reforms”, IMFdirect, 29 Ιουνίου Germany, a champion of structural reform prescriptions within the European Union, needs a large dose of the same medicine at home, too. Beyond public investment in transport and telecommunications, and more competition in services, dealing with an aging population needs urgent attention. With the right policies, Germany can bring more people into the workforce—and for longer—to …Read More

Giudici, Paolo, Parisi, Laura, (2016), “Bail-in versus bail-out: The Atlante example from a systemic risk perspective”, VoxEU, 3ο Ιουνίου In April 2016, Italian banks set up an equity fund intended to recapitalise troubled financial institutions in a ‘private bail-out intervention’ scenario, with a view to avoiding a bail-in under the European Bank and Recovery Resolution directive. This column analyses the main differences between a bail-in and a bail-out scenario. In particular, …Read More

Vitorino, António, (2016), “Managing a successful UK-EU divorce, arousing the desire for union”, Notre Europe Jacques Delors Institute, 28 Ιουνίου Οur President, António Vitorino, takes a stand on the main issues of the European Council of the 28-29 June 2016 by answering questions on the British referendum on the EU and its consequences, the Juncker Plan, the refugee crisis and the European security strategy. Σχετικές Αναρτήσεις Olivier, Blanchard, (2016), “How the Eurozone Can …Read More