Lehmann, Alexander, (2016), “Can public support help Europe build distressed asset markets?”, Bruegel, 29 Νοεμβρίου Distressed asset investors can relieve banks of their NPL overhang and offer valuable restructuring expertise, although banks will need to realise a further valuation loss. Regulators could do a lot to support the growth of this market. Σχετικές Αναρτήσεις Panagiotarea, Eleni, (2016), “The Political Economy of NPLs resolution: Ownership and conditionality”, Hellenic Observatory LSE, 13 …Read More
Globalisation fears weigh heavily on European voters
De Vries, Catherine, Hoffmann, Isabell, (2016), “Globalisation fears weigh heavily on European voters”, Bertelsmann Stiftung, 30 Νοεμβρίου Protest voters and populist politicians are shaking up the long-established political majorities in Europe and the USA. But what prompts voters to back parties who claim that they alone represent the interests of the people and are challenging the so-called establishment? A representative EU opinion poll attempts to uncover the reasons. Σχετικές Αναρτήσεις …Read More
Self-fulfilling dynamics: the interactions of sovereign spreads, sovereign ratings and bank ratings during the euro financial crisis
D. Gibson, Heather, G. Hall, Stephen, S. Tavlas, George, (2016), “Self-fulfilling dynamics: the interactions of sovereign spreads, sovereign ratings and bank ratings during the euro financial crisis”, Bank of Greece, 30 Νοεμβρίου During the euro-area financial crisis, interactions among sovereign spreads, sovereign credit ratings, and bank credit ratings appeared to have been characterized by selfgenerating feedback loops. To investigate the existence of feedback loops, we consider a panel of five …Read More
What impact does the ECB’s quantitative easing policy have on bank profitability?
Demertzis, Maria, B.Wolff, Guntram, (2016), “What impact does the ECB’s quantitative easing policy have on bank profitability?”, Bruegel, 30 Νοεμβρίου This Policy Contribution shows that the effect of the ECB’s QE programme on bank profitability has not yet had a dramatically negative effect on bank operations. Σχετικές Αναρτήσεις Hüttl, Pia, Merler, Silvia, (2016), “An update: Sovereign bond holdings in the euro area – the impact of QE”, Bruegel, 22 Νοεμβρίου S. …Read More
Europe’s Secret Bailout
Sinn, Hans-Werner, (2016), “Europe’s Secret Bailout”, Project Syndicate, 28 Νοεμβρίου While the world worries about Donald Trump, Brexit, and the flow of refugees from Syria and other war-torn countries, the European Central Bank continues to work persistently and below the public radar on its debt-restructuring plan – also known as quantitative easing (QE) – to ease the burden on over-indebted eurozone countries. Σχετικές Αναρτήσεις Hüttl, Pia, Merler, Silvia, (2016), “An update: …Read More
Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης
Why we need a positive fiscal stance for the Eurozone and what it means
Buti, Marco, Rodríguez Muñoz, Lucía, (2016), “Why we need a positive fiscal stance for the Eurozone and what it means”, VoxEu, 28 Νοεμβρίου With growth still weaker than is desirable and challenges originating from geopolitical developments further complicating the economic outlook, responsible growth-friendly fiscal policy needs to play a bigger role in supporting demand in the Eurozone today. This column presents a new European Commission Communication on Eurozone fiscal policy, …Read More
Fiscal space and low interest rates: A Eurozone perspective
Buti, Marco, Carnot, Nicolas, (2016), “Fiscal space and low interest rates: A Eurozone perspective”, VoxEu, 28 Νοεμβρίου The European Commission has just called for a fiscal stance that is more supportive of the recovery and of monetary policy in the Eurozone. This column argues that the case is strong for spending now on investment and other targeted programmes supporting growth and employment. However, fiscal space is heterogeneously distributed across the …Read More
The positive effect of public investment on potential growth
Fournier, Jean-Marc, (2016), “The positive effect of public investment on potential growth”, OECD Economics Department Working Paper No. 1347, 22 Νοεμβρίου An estimated baseline convergence model capturing the long-term effect of human capital and physical investment on potential output for a panel of OECD countries is augmented with public investment and its components. The estimations suggest that public investment has a positive effect on long-term growth and on labour productivity. …Read More
Academic labour markets in Europe vary widely in openness and job security
Afonso, Alexandre, (2016), “Academic labour markets in Europe vary widely in openness and job security”, LSE EUROPP blog, 24 Νοεμβρίου Having examined the organisation of Europe’s academic labour markets, Alexandre Afonso outlines the main differences between countries across the continent. There is greatest variance in two particular areas: the extent to which academic labour markets are open to outsiders, and the job security they provide for recent PhD graduates. This has …Read More
Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης
Can an increase in public investment sustainably lift economic growth?
Mourougane, Annabelle, Botev, Jarmila, Fournier, Jean-Marc, Pain Nigel, Rusticelli, Elena, (2016), “Can an increase in public investment sustainably lift economic growth?”, OECD Economics Department Working Paper No 1351, 24 Νοεμβρίου This paper seeks to identify the conditions under which raising public investment can sustainably lift growth without deteriorating public finances. To do so, it relies on a range of simulations using three different macro-structural models. According to the simulations, OECD …Read More