Thirion, Gilles, (2017), “European Fiscal Union: Economic rationale and design challenges”, CEPS, No. 2017-01, Ιανουάριος Proposals for different types of elements of a fiscal union have flourished in recent years, both from academic and policy circles. Since a fiscal union could take a constellation of various different forms, this paper first provides an analytical framework pinpointing the five key elements of a fiscal union. It takes stock of the existing …Read More
Is the Deflation Cycle Over?
Reinhart, Carmen, (2017), “Is the Deflation Cycle Over?”, Project Syndicate, 31 Ιανουαρίου Until the global financial crisis of 2008-2009, deflation had all but disappeared as a concern for policymakers and investors in the advanced economies, apart from Japan, which has been subject to persistent downward pressure on prices for nearly a generation. And now deflationary fears are on the wane again. By the mid-1960s, the advanced economies began an era …Read More
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The Inclusive Growth and Development Report 2017
World Economic Forum, (2017), “The Inclusive Growth and Development Report 2017”, Ιανουάριος Over the past several years, a worldwide consensus has emerged on the need for a more socially-inclusive approach to generating economic growth. However, inclusive growth and development remain primarily an aspiration. No systemic framework has emerged to guide policy and practice. Building on a beta version of a policy framework released in 2015, this Report provides a practical guide for policymakers and stakeholders seeking to …Read More
Why is it so hard to reach the EU’s ‘poverty’ target?
Darvas, Zsolt, (2017), “Why is it so hard to reach the EU’s ‘poverty’ target?”, Bruegel, 19 Ιανουαρίου The ‘poverty’ target set by the European Commission aims to lift “over 20 million people out of poverty” between 2008 and 2020 in the EU27. Progress to date against this target has been disappointing. Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure? …Read More
Europe’s Growth Challenge
Åslund, Andres, Djankov, Simeon, (2017), “Europe’s Growth Challenge”, Oxford University Press, Φεβρουάριος In the wake of the Great Recession, Europe’s economy has stagnated to a considerable degree-greater even than that of the United States. Forecasts suggest an abysmal annual growth rate of about one percent over the next five years, and it now appears that Europe’s enviable structural features, that is, their superior social safety net, leading educational facilities, and …Read More
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The Global Wealth Report 2016
Credit Suisse, (2016), “The Global Wealth Report 2016”, Research Institute, Νοέμβριος The seventh edition of the Credit Suisse Research Institute’s Global Wealth Report confirms a course of the weak global wealth growth. In the past 12 months, global wealth has risen by 3.5 trillion dollars to 256 trillion dollars, which represents an increase of 1.4 percent. However, wealth creation has merely kept pace with population growth. As a result, in 2016, …Read More
Aspects of Economic Governance in the Euro Area: Restoring Internal and External Balances
Christodoulakis, Nicos, (2016), “Aspects of Economic Governance in the Euro Area: Restoring Internal and External Balances”, Rivisteweb, 3 Δεκεμβρίου The Economic Governance for the Euro Area is envisaged to be both an overseeing framework that enables the timely identification of oncoming trouble, as well as a correction mechanism that puts an economy hit by major shocks back in order. The paper discusses the relevance of prevention and correction mechanisms, and finds …Read More
An assessment of the redistributive function of the EU budget
Pasimeni, Paolo, Riso, Stéphanie, (2017),“An assessment of the redistributive function of the EU budget”, VoxEu, 19 Ιανουαρίου EU budget reform is a key issue in policy debates, in particular the redistributive effects between member states. This column assesses redistribution within the EU budget over the period 2000 to 2014. It finds that the net redistributive impact of the EU budget is rather small and, contrary to common belief, that the …Read More
Italy 2017: Back To Austerity
Minenna, Marcello, (2017), “Italy 2017: Back To Austerity”, Social Europe, 19 Ιανουαρίου The political turmoil that followed the Renzi government’s resignation after the results of Italy’s referendum on constitutional reforms, the hurried appointment of the new executive and the endless emergency of Monte dei Paschi overshadowed the letter that the European Commission sent on December 5th to the outgoing administration. In concise terms, the letter confirmed what was already in …Read More
Europe’s Make-or-Break country: what is wrong with Italy’s economy?
Giugliano, Ferdinando, Odendahl, Christian, (2016), “Europe’s Make-or-Break country: what is wrong with Italy’s economy?”, Centre for European Reform, 19 Δεκεμβρίου After Matteo Renzi lost his referendum on constitutional reform and resigned, Italy returned to the European spotlight. Although it is a founding member of the EU, Italian public support for the European project is among the lowest in Europe; it is the eurozone’s third largest economy, but its economy is …Read More