Gandrud, Christopher, Hallerberg, Mark, Véron, Nicolas, (2016), “The European Union remains a laggard on banking supervisory transparency”, Bruegel, 10 Μαΐου Supervisory transparency, or the publication by prudential supervisors of data about the institutions they supervise, is an essential tool to ensure market discipline in the banking sector and thus supports the public-policy objective of financial stability, in complement to disclosures made by the banks themselves. In the European Union, we find that the already …Read More

Ippolito, Filippo,  Peydró, José-Luis, Polo, Andrea, Sette, Enrico, (2016),  “Double bank runs, liquidity risk management, and Basel III”, Voxeu, 10 Μαΐου By providing liquidity to credit line borrowers and depositors, banks are potentially exposed to simultaneous runs on their assets and liabilities. This risk became a reality when the European interbank market froze in the summer of 2007. This column discusses the risk of double-bank runs, liquidity risk management by banks and the implications …Read More

Buffie, Nick, (2016), “Unemployment Is Down, but Unworked Hours Are Still High”, Center for Economic and Policy Research, 5 Μαΐου This Friday morning, the Bureau of Labor Statistics will release the latest jobs figures for the month of April. The unemployment rate and the number of jobs created will likely be the major focuses of most reporting. But there is an important and less noticed problem in today’s economy. Specifically, the weakness of …Read More

Ford, Nicholas, Horioka, Charles Yuji, (2016), “The ‘real’ explanation of the Feldstein-Horioka puzzle – and what it means”, Voxeu, 5 Μαΐου The Feldstein-Horioka puzzle concerns why levels of investment and saving are correlated across countries. This is puzzling because financial markets can rapidly move capital between countries, and there is no reason why the best investment opportunities should be in a saver’s home country. This column posits a disarmingly simple solution to this …Read More

Bruno, Randolph, Campos, Nauro F., Estrin, Saul, Tian, Meng, (2016),  “The FDI premium from EU membership”, Voxeu, 5 Μαΐου The current Brexit debate has highlighted questions about the benefits and costs of EU membership. This column considers the effect of membership on foreign direct investment (FDI). Using several measures, EU membership is found to increase FDI inflows by 14–38% between 1985 and 2013. These results support arguments for economic integration, and indicate that, like …Read More