Briciu, Lucian, Lisi, Giulio, (2015), “An event-study analysis of ECB balance sheet policies since October 2008”, European Commission publications, Economic Brief 001, July 2015 Using an event-study approach, this paper provides an impact analysis of seven sets of balance sheet policies (BSPs) launched by the ECB between October 2008 and January 2015. According to the event-study results, the set of ECB BSPs announced in 2014 had the broadest immediate impact on euro area financial conditions, though possibly …Read More
Why Social Investments Bring Multiple Benefits
Woess, Josef, Buxbaum, Adi, (2015), “Why Social Investments Bring Multiple Benefits”, Social Europe Journal, 28 Ιουλίου Austerity measures put social cohesion at immense risk and restrain the growth dynamic in Europe. Furthermore, these measures have massively damaged the confidence of citizens in European and national institutions. Failing to solve problems such as high unemployment or a lack of social infrastructure is a very expensive option, associated with massive costs for individuals and society. …Read More
Βιβλιοθήκη » EE » Κοινωνία » Οικονομία » Κείμενα Πολιτικής
Spare tire? Stock markets, banking crises, and economic recoveries
Levine, Ross, Lin, Chen, Xie, Wensi, (2015), “Spare tire? Stock markets, banking crises, and economic recoveries”, Voxeu, 29 Ιουλίου Some have argued that the stock market serves as a ‘spare tire’ during banking crises by providing an alternative corporate financing channel. This column examines the claim using data for 36 countries spanning 20 years. The findings support the three core predictions of the spare tire view, suggesting that countries can insulate parts of their economy …Read More
The Eurozone’s German Problem
Legrain, Philippe, (2015), “The Eurozone’s German Problem”, Social Europe Journal, 27 Ιουλίου The eurozone has a German problem. Germany’s beggar-thy-neighbor policies and the broader crisis response that the country has led have proved disastrous. Seven years after the start of the crisis, the eurozone economy is faring worse than Europe did during the Great Depression of the 1930s. The German government’s efforts to crush Greece and force it to abandon …Read More
Βιβλιοθήκη » EE » Οικονομία » Πολιτική » Άρθρα Γνώμης
Innovation, income inequality, and social mobility
Aghion, Philippe, Akcigit, Ufuk, Bergeaud, Antonin, Blundell, Richard, Hemous, David, (2015), “Innovation, income inequality, and social mobility”, Voxeu, 28 Ιουλίου In recent decades, there has been an accelerated increase in top income inequality, particularly in developed countries. This column argues that innovation partly accounts for the surge in top income inequality and fosters social mobility. In particular, the positive effect of innovation on social mobility is due to new innovators. Σχετικές Αναρτήσεις Dabla-Norris, Era, Kochhar, Kalpana, Suphaphiphat, Nujin, Ricka, Frantisek, Tsounta, Evridiki, (2015),“Causes and Consequences of Income Inequality …Read More
Βιβλιοθήκη » EE » Κοινωνία » Οικονομία » Κείμενα Πολιτικής
Policy consequences of public income volatility
Robinson, James, Torvik, Ragnar, Verdier, Thierry, (2015), “Policy consequences of public income volatility”, Voxeu, 27 Ιουλίου As the Eurozone continues to struggle to recover from the economic fallouts of the 2008 crisis, and with Greece on the edge of exiting the currency union, it hardly needs to be said that politics has played a significant role both in the creation of the original crisis and in impeding an optimal solution to it. Since the 1970s economists have …Read More
Europe’s Gravest Threat: Doctrines Diverged
Hanska, Max, (2015), “Europe’s Gravest Threat: Doctrines Diverged”, LSE blog, 23 Ιουλίου Europe’s fiscal and economic crisis has revealed rifts in, what is often assumed to be a common understanding of the ‘European Project.’ Nowhere did the fact that different nations understand the ‘European Project’ quite differently come to a fore as explicitly as during 17 hour negotiations over a 3rd ESM programme for Greece—and particularly, in what different European nations view as …Read More
Βιβλιοθήκη » EE » Οικονομία » Πολιτική » Άρθρα Γνώμης
The elusive quest for labour market reforms
Boeri, Tito, Jimeno, Juan Francisco, (2015), “The elusive quest for labour market reforms”, Voxeu, 27 Ιουλίου tructural reforms of labour markets are almost universally advocated by international institutions. They are included as key conditions for delivering financial assistance under formal rescue programmes, and the nth Greek agenda of reforms is no exception in this respect. They are also strongly recommended to countries under the supervision of the EU macroeconomic imbalance procedure; a commitment …Read More
Βιβλιοθήκη » EE » Κοινωνία » Άρθρα Γνώμης
Debt miracle: Why the country that borrowed the most industrialised first
Ventura, Jaume, Voth, Hans-Joachim, (2015), “Debt miracle: Why the country that borrowed the most industrialised first”, Voxeu, 27 Ιουλίου Towering debts, rapidly rising taxes, constant and expensive wars, a debt burden surpassing 200% of GDP. What are the chances that a country with such characteristics would grow rapidly? Almost anyone would probably say ‘none’.And yet, these are exactly the conditions under which the Industrial Revolution took place in Britain. Britain’s …Read More
Monetary Policies in Advanced Economies: Good for Them, Good for Others
IMF, (2015), “Monetary Policies in Advanced Economies: Good for Them, Good for Others”, IMF Policy Paper, 23 Iούνιος 2015. Accommodative monetary policies in systemic advanced economies can have a positive impact on economic activity in other countries if they are perceived as good news about growth prospects in advanced economies, said a new IMF report that assesses the “spillover” impact of policies on other economies. Seven years after the onset of …Read More