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Labor Market Institutions and the Cost of Recessions

Scheffel, Martin, Krebs, Tom, (2017), “Labor Market Institutions and the Cost of Recessions”, IMF, 3 Απριλίου This paper studies the effect of two labor market institutions, unemployment insurance (UI) and job search assistance (JSA), on the output cost and welfare cost of recessions. The paper develops a tractable incomplete-market model with search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The theoretical analysis shows that …Read More

Fiscal spillovers in the euro area a model-based analysis

Attinasi, Maria-Grazia , Lalik, Magdalena, Vetlov, Igor, (2017), “Fiscal spillovers in the euro area a model-based analysis”, European Central Bank, No 2040, Μάρτιος 2017 The fiscal consolidation measures adopted in many euro area countries over 2010–13 reduced excessive domestic fiscal imbalances, but came at the cost of short-term output losses. This simultaneous tightening of fiscal policy raised concerns that such output losses might be exacerbated by negative spillovers from other …Read More

TWO SIDES OF THE SAME COIN? Independence and Accountability of the European Central Bank

Transparency International EU, (2017), “TWO SIDES OF THE SAME COIN? Independence and Accountability of the European Central Bank”, March This report is published at a time when the ECB faces a major dilemma. Because political inertia has to date prevented the establishment of a sustainable institutional architecture for the Eurozone, the ECB’s role in safeguarding the euro is as indispensable as ever. The ECB emerged as the decisive actor in the …Read More

Οικονομικό Δελτίο

Eυρωπαϊκή Κεντρική Τράπεζα, “Οικονομικό Δελτίο”, Τεύχος 2/2017 Κατά τη συνεδρίασή του στις 9 Μαρτίου 2017 για τη νομισματική πολιτική, το Διοικητικό Συμβούλιο διαπίστωσε ότι ο ιδιαίτερα διευκολυντικός χαρακτήρας της νομισματικής πολιτικής εξακολουθεί να είναι απαραίτητος ώστε να ενισχυθούν οι πιέσεις στον υποκείμενο πληθωρισμό και να στηριχθεί ο μετρούμενος πληθωρισμός μεσοπρόθεσμα. Τα μέτρα νομισματικής πολιτικής της ΕΚΤ συνέχισαν να διατηρούν τις ιδιαίτερα ευνοϊκές συνθήκες χρηματοδότησης που είναι απαραίτητες προκειμένου να διασφαλιστεί …Read More

New ICMB/CEPR Report: Bail-ins and Bank Resolution in Europe

Philippon, Thomas, Salord, Aude, (2017), “New ICMB/CEPR Report: Bail-ins and Bank Resolution in Europe”, Vox Eu, 22 Μαρτίου Nine years since the Global Crisis of 2008 and two and a half years after the launch the banking union in November 2014, some European countries are still struggling with significant banking problems. The total amount of non-performing loans (NPLs) in the EU is around €1 trillion and its allocation is far …Read More

Annual growth in labour costs at 1.6% in euro area

Eurostat/Annual growth in labour costs at 1.6% in euro area, 20 Μαρτίου 2017 Hourly labour costs rose by 1.6% in the euro area (EA19) and by 1.7% in the EU28 in the fourth quarter of 2016, compared with the same quarter of the previous year. In the third quarter of 2016, hourly labour costs increased by 1.4% and 1.8% respectively. These figures are published by Eurostat, the statistical office of …Read More

Annual inflation up to 2.0% in the euro area

Eurostat/Annual inflation up to 2.0% in the euro area, 16 Μαρτίου 2017 Euro area annual inflation was 2.0% in February 2017, up from 1.8% in January. In February 2016 the rate was -0.2%. European Union annual inflation was 1.9% in February 2017, up from 1.7% in January. A year earlier the rate was -0.1%. These figures come from Eurostat, the statistical office of the European Union. Σχετικές Αναρτήσεις Eurostat/ “Euro area …Read More

Employment up by 0.3% in the euro area and by 0.2% in the EU28

Eurostat/Employment up by 0.3% in the euro area and by 0.2% in the EU28, 15 Μαρτίου The number of persons employed increased by 0.3% in the euro area (EA19) and by 0.2% in the EU28 in the fourth quarter of 2016 compared with the previous quarter, according to national accounts estimates published by Eurostat, the statistical office of the European Union. In the third quarter of 2016, employment increased by …Read More

Industrial production up by 0.9% in euro area Up by 0.5% in EU28

Eurostat/Industrial production up by 0.9% in euro area Up by 0.5% in EU28/ 14 Μαρτίου In January 2017 compared with December 2016, seasonally adjusted industrial production rose by 0.9% in the euro area (EA19) and by 0.5% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In December 2016 industrial production fell by 1.2% in the euro area and by 0.7% in the EU28. …Read More

Workers in 7 EU countries worse off today than 8 years ago

European Trade Union Institute and European Trade Union Confederation, (2017), “Workers in 7 EU countries worse off today than 8 years ago”, 13 Μαρτίου Workers are still not feeling economic recovery: wages are lower now than they were eight years ago in seven EU member states, according to new research published today by the European Trade Union Institute (ETUI) and European Trade Union Confederation (ETUC). The research also shows that in …Read More