Gürkaynak, Refet, Weil, Philippe, (2017), “Eurozone economic recovery: Humming along just fine”, VoxEU, 24 Αυγούστου This column presents the first bi-annual report from CEPR’s Euro Area Business Cycle Dating Committee on the state of the Eurozone business cycle. The main findings are that the Eurozone expansion is continuing slowly, but is creating employment at a rapid pace; the recovery is commensurate with the US recovery once the Eurozone’s double-dip sovereign …Read More
Eurostat/GDP up by 0.6% in both the euro area and the EU28/16 Αυγούστου 2017 Seasonally adjusted GDP rose by 0.6% in both the euro area (EA19) and the EU28 during the second quarter of 2017, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2017, GDP grew by 0.5% in both zones. Σχετικές Αναρτήσεις …Read More
Foglia, Antonio, (2017), “The Post-Crisis Elephant in the Room”, Project Syndicate, 24 Αυγούστου The global financial crisis that began in August 2007 resulted from a massive, unavoidable cognitive mistake on the part of regulators and bankers. It is now ten years later, and yet few are willing to admit this fact, let alone explore appropriate remedies. In fact, the opposite has happened: regulators have piled on ever-more complex rules, and …Read More
Christopher Thomson/Reuters Breaking Views, (2017), “Μαξιλάρι ασφαλείας για τις ευρωπαϊκές τράπεζες“, Η Καθημερινή, 27 Αυγούστου Σπάνια εκτιμά κανείς τη σοφή συμβουλή να αποταμιεύει χρήματα για τις δύσκολες εποχές. Ας εξετάσουμε τις τράπεζες, οι οποίες από το 2018 θα αναγκαστούν να σχηματίζουν προβλέψεις για μη εξυπηρετούμενα δάνεια με νέο τρόπο εξαιτίας της αλλαγής των παγκόσμιων λογιστικών προτύπων. Οι Ευρωπαίοι τραπεζίτες υποστηρίζουν πως η αλλαγή θα οδηγήσει βραχυπρόθεσμα σε μείωση μερισμάτων και …Read More
Eurostat/Annual inflation stable at 1.3% in the euro area/17 Αυγούστου 2017 Euro area annual inflation was 1.3% in July 2017, stable compared with June 2017. In July 2016 the rate was 0.2%. European Union annual inflation was 1.5% in July 2017, also stable compared to June 2017. A year earlier the rate was 0.2%. These figures come from Eurostat, the statistical office of the European Union. Σχετικές Αναρτήσεις Eurostat/Annual inflation …Read More
Eurostat/Production in construction down by 0.5% in euro area/18 Αύγουστου 2017 In June 2017 compared with May 2017, seasonally adjusted production in the construction sector decreased by 0.5% in the euro area (EA19) and by 0.2% in the EU28, according to first estimates from Eurostat, the statisticaloffice of the European Union. In May 2017, production in construction fell by 0.2% in the euro area and by 0.5% in the EU28. …Read More
Weber, Anke, (2017), “Bank Consolidation, Efficiency, and Profitability in Italy”, International Monetary Fund (IMF) Working Paper No.17/175, 27 Ιουλίου This paper examines the case for efficiency-driven banking sector consolidation in Italy, evaluates its potential effects on profitability, and discusses policy options to facilitate a consolidation process that is as effective as possible. A bottom-up analysis of 386 Italian banks suggests that while profitability is expected to improve as the economy …Read More
Nickel, Christiane, (2017), “The role of foreign slack in domestic inflation in the Eurozone”, VoxEU, 28 Ιουλίου The past decade has seen a growing role for global slack in Phillips curve approaches, as opposed to the traditional focus on domestic slack. This column explores whether augmenting Phillips curves by measures of foreign slack can help to better explain past developments in underlying inflation. A majority of specifications, both with and …Read More
H Καθημερινή, (2017), “Οι Γερμανοί κέρδισαν 250 δισ. ευρώ από τα χαμηλά επιτόκια της ΕΚΤ”, 26 Ιουλίου Περισσότερο κερδισμένη παρά χαμένη βγαίνει, τελικά, η Γερμανία από τη χαλαρή νομισματική πολιτική που έχει υιοθετήσει η ΕΚΤ μετά το ξέσπασμα της παγκόσμιας χρηματοπιστωτικής κρίσης, καθώς η ισχυρότερη οικονομία της Ευρωζώνης φαίνεται ότι εξοικονόμησε το δυσθεώρητο ποσό των 250 δισ. ευρώ την περασμένη δεκαετία. Αυτό καταδεικνύει έρευνα της κεντρικής τράπεζας της Γερμανίας (Bundesbank), …Read More
Ferrero, Giuseppe, Gross, Marco, Neri, Stefano, (2017), “On secular stagnation and low interest rates: demography matters”, European Central Bank (ECB) Working Paper Series No 2088, Ιούλιος Nominal and real interest rates in advanced economies have been decreasing since the mid-1980s and reached historical low levels in the aftermath of the global financial crisis. Understanding why interest rates have fallen is essential for both monetary policy and financial stability. This paper …Read More
