Saraceno, Francesco, (2015), “The End Of German Hegemony – Really?”, Social Europe, 3 Νοεμβρίου. I was puzzled by Daniel Gros’ recent column in which he claims that Germany’s dominance of the EMU may be coming to an end. Gros’ argument is based on two facts. The first is the slowing growth rate of Germany, that seems to be heading towards the pre-crisis “normal” of slow growth (Germany grew less than the EMU …Read More
Ilzetzki, Ethan, (2015), “A Positive Theory of Tax Reform”, Centre for Economic Policy Research, Νοέμβριος. The political impediments to reform and the forces allowing its success are studied in a model where the tax base and statutory rate are separate instruments of tax policy. The model predicts that big bang reforms—large changes in the tax code—may be easier to enact than marginal reforms. Preferences over the tax base face a tipping point …Read More
Schoenmaker, Dirk, (2015), “Firmer Foundations for a Stronger European Banking Union”, Bruegel Institute, Νοέμβριος The Banking Union is a milestone in European banking integration. While supervision of European banks by national supervisors was loosely coordinated through the European Banking Authority (EBA), the Banking Union has positioned the European Central Bank (ECB) as centralised supervisor of the European banks, initially in the euro area. The Banking Union creates a paradigm shift for the various stakeholders. …Read More
Freire, André, Lisi, Marco, Andreadis, Ioannis, Leite Viegas, José Manuel, (2015), “Political Representation in Times of Bailout-Evidence from Greece and Portugal”, Routledge Publications, Σεπτέμβριος Since 2008 many European states have experienced significant challenges in adapting to austerity, and political actors within these states have made significant changes in their discourses and practices. This book explores the short-term impact of the sovereign debt crisis on aspects of political representation in Greece and …Read More
Sandbu, Martin, (2015), “Europe’s Orphan: The Future of the Euro and the Politics of Debt”, Princeton University Press, Οκτώβριος Originally conceived as part of a unifying vision for Europe, the euro is now viewed as a millstone around the neck of a continent crippled by vast debts, sluggish economies, and growing populist dissent. In Europe’s Orphan, leading economic commentator Martin Sandbu presents a compelling defense of the euro. He argues …Read More
Bricongne, Jean-Charles, Maria Mordonu, Aurora, (2015), “Interlinkages between Household and Corporate Debt in Advanced Economies”, Discussion Paper 017, European Commission publications, Οκτώβριος This article contributes to the debate on deleveraging in the non-financial private sector. It proposes a framework to assess the interconnectedness of deleveraging in the household sector and in the nonfinancial corporations sector. In doing so, several factors are controlled for: inflation, interest rates, labour intensity and also the influence of the general government …Read More
B. Bakker, Bas, (2015), ” Employment and the Great Recession : The Role of Real Wages”, IMF publications, 28 Οκτωβρίου This paper argues that the sharp increase in unemployment in a number of advanced countries during the Great Recession was not just cyclical (the result of a lack of aggregate demand); the degree of adjustment of real wages and the impact this had on labor productivity also played a role. In many …Read More
Schoenmaker, Dirk, Wolff, Guntram, (2015), “Options for European deposit insurance”, Voxeu, 30 Οκτωβρίου The five presidents’ report on Completing Europe’s Economic and Monetary Union in June this year called for European Deposit Insurance to complete the Banking Union. European Council President Tusk also called for completing banking union by creating a European deposit insurance and he argued that this could be done without treaty change. Σχετικές Αναρτήσεις Schoenmaker, Dirk, Wolff, Guntram, (2015), …Read More
World Bank, (2015), “Doing Business 2016-Measuring Regulatory Quality and Efficiency”, World Bank Group Publications, 27 Οκτωβρίου Societies need regulation—and businesses, as part of society, are no exception. Without the rules that underpin their establishment, operation and dissolution, modern businesses cannot exist. And where markets left to themselves would produce poor outcomes, well-designed regulation can ensure outcomes that are socially optimal and likely to leave everyone better off. Σχετικές Αναρτήσεις Doing Business 2015: Going Beyond Efficiency, Comparing Business Regulations for …Read More
Turner, Adair, (2015), “Between Debt and the Devil: Money, Credit, and Fixing Global Finance”, Princeton University Press, Οκτώβριος. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and …Read More
