Giavazzi, F. & Tabellini, G. (2014) “What macroeconomic policies for the Eurozone?“, VoxEU Organisation, 25 Σεπτεμβρίου. In a recent column, the authors suggested coordinating monetary and fiscal expansions in the Eurozone through a money-financed temporary tax cut. The effectiveness of their proposal, however, has been questioned. In this column, the authors address some of the criticisms. They argue that the counter-cyclical fiscal policies adopted by the US and the …Read More
Is Economics a Science? Dogmatic Economics Vs. Reflective Economics
Pilkington, P. (2014) “Is Economics a Science? Dogmatic Economics Vs. Reflective Economics“, Fixing the Economists Blog, 22 Σεπτεμβρίου. The question asked in the title of this post is actually somewhat of a trick. It is a trick because it all depends upon how you define ‘science’. Often when people say that economics is a science what they are doing is defining ‘science’ in such a way that economics fits the …Read More
Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης
Europe’s Single Supervisory Mechanism: Most small banks are German (and Austrian and Italian) – a closer look at the ECB’s list shows that the smaller banks are concentrated in a limited number of countries, much more so than larger ones
Véron, Ν. (2014) “Europe’s Single Supervisory Mechanism: Most small banks are German (and Austrian and Italian) – a closer look at the ECB’s list shows that the smaller banks are concentrated in a limited number of countries, much more so than larger ones“, Bruegel Think Tank, 22 Σεπτεμβρίου. A well-known limitation of Europe’s banking union is the fact that most banks in the euro area will escape direct supervision …Read More
Is unemployment structural or cyclical? Main features of job matching in the EU after the crisis
Arpaia, Α., Kiss, A. & Turrini, A. (2014) “Is unemployment structural or cyclical? Main features of job matching in the EU after the crisis“, European Economy, European Commission Economic Papers 527, Σεπτέμβριος. The paper sheds light on developments in labour market matching in the EU after the crisis. First, it analyses the main features of the Beveridge curve and frictional unemployment in EU countries, with a view to isolate …Read More
The Euro Trap. On Bursting Bubbles, Budgets, and Beliefs
Sinn, H.-W. (2014) The Euro Trap. On Bursting Bubbles, Budgets, and Beliefs, Oxford University Press 2014. This book offers a critical assessment of the history of the euro, its crisis, and the rescue measures taken by the European Central Bank and the community of states. The euro induced huge capital flows from the northern to the southern countries of the Eurozone that triggered an inflationary credit bubble in the …Read More
Βιβλιοθήκη » EE » Οικονομία » Βιβλία
Deep roots or current policies – what drives sustained prosperity differences across locations?
Delgado, M., Ketels, C., Porter, M. & Stern, S. (2014) “Deep roots or current policies – what drives sustained prosperity differences across locations?“, VoxEU Organisation, 18 Σεπτεμβρίου. There is a consensus among economists that ‘deep roots’ – geography, natural endowments, and institutions – are important determinants of prosperity differences across countries. This column argues that deep roots matter, but they are neither the whole story nor an excuse for …Read More
Entry and Exit in OTC Derivatives Markets
Atkeson, Α., Eisfeldt, Α. & Weill, P. O. (2014) “Entry and Exit in OTC Derivatives Markets“, VoxEU Organisation, 17 Σεπτεμβρίου. Entry and trading in over-the-counter (OTC) derivatives markets have received considerable attention. However, many critical questions remain unaddressed. This column describes a formal study of banks’ incentives to enter and trade in OTC derivatives markets. In equilibrium, only large banks enter to become dealers, and middle-sized banks only enter …Read More
Shadow banking and the economy
Moreira, A. & Savov, A. (2014) “Shadow banking and the economy“, VoxEU Organisation, 16 Σεπτεμβρίου. The prevailing view of shadow banking is that it is all about regulatory arbitrage – evading capital requirements and exploiting ‘too big to fail’. This column focuses instead on the tradeoff between economic growth and financial stability. Shadow banking transforms risky, illiquid assets into securities that are – in good times, at least – …Read More
Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης
Επιστροφή στα βασικά οικονομικά
Krugman, P. (2014) “Επιστροφή στα βασικά οικονομικά“, Εφημερίδα «Καθημερινή», 16 Σεπτεμβρίου. Προ ημερών συμμετείχα σε συνέδριο που διοργάνωσε φοιτητική ένωση με στόχο μια αναθεώρηση της Οικονομικής θεωρίας. Νομίζω πως είναι σημαντικό να συνειδητοποιήσουμε ότι τα τελευταία χρόνια είδαμε να καταρρέουν θεωρίες σε πολλά επίπεδα. Η επιστήμη των Οικονομικών είχε σαφώς εκτροχιασθεί επί χρόνια, στην πραγματικότητα επί δεκαετίες, με αποτέλεσμα την κρίση. Αλλά η αποτυχία των Οικονομικών οξύνθηκε σε μεγάλο …Read More
Βιβλιοθήκη » EE » Οικονομία » Άρθρα Γνώμης
Interim Global Economic Assessment
OECD (2014) “Interim Global Economic Assessment“, Economics Department, OECD Economic Surveys, 15 Σεπτεμβρίου: Παρίσι. A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the euro area, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, according to the OECD’s latest Interim Economic Assessment. While the global recovery continues at a moderate …Read More