Blanchard, O. (2014) “Where danger lurks“, International Monetary Fund, Finance and Development, Σεπτέμβριος. The recent financial crisis has taught us to pay attention to dark corners, where the economy can malfunction badly Until the 2008 global financial crisis, mainstream U.S. macroeconomics had taken an increasingly benign view of economic fluctuations in output and employment. The crisis has made it clear that this view was wrong and that there is …Read More
Who is afraid of the Asset Quality Review? Potential Losses and Capital Shortfalls in the European Banking System
Bonczek, T., Fuest, C. & Schröder, M. (2014) “Who is afraid of the Asset Quality Review? Potential Losses and Capital Shortfalls in the European Banking System“, Centre for European Economic Research, Discussion Paper No. 14-074 , Οκτώβριος. The creation of a banking union is widely seen as a key element of institutional reforms towards more financial and economic stability in Europe. Its objective is to improve the effectiveness of …Read More
Extending Taxation of Interest and Royalty Income at Source – an Option to Limit Base Erosion and Profit Shifting?
Finke, C., Fuest, C., Nusser, H. & Spengel, C. (2014) “Extending Taxation of Interest and Royalty Income at Source – an Option to Limit Base Erosion and Profit Shifting?“, Centre for European Economic Research, Discussion Paper No. 14-073, Οκτώβριος. Abstract: This paper discusses tax policy measures to reduce corporate tax avoidance by extending taxation in the source country without imposing double taxation. We focus on four options: Bilaterally restricting …Read More
Prime Minister Matteo Renzi on Growth and Jobs in Italy – A Conversation With Matteo Renzi
Renzi, M. (2014) “Prime Minister Matteo Renzi on Growth and Jobs in Italy – A Conversation With Matteo Renzi“, Council on Foreign Relations (CFR), 24 Σεπτεμβρίου. PORAT: Good afternoon. My name is Ruth Porat, and I’m a member of the board of the Council and am delighted to welcome you here today to our meeting with Prime Minister Matteo Renzi. I’d also like to welcome the CFR members around …Read More
Γαλλικός προϋπολογισμός και ευρωπαϊκό αδιέξοδο
Τσούκαλης, Λ. (2014) “Γαλλικός προϋπολογισμός και ευρωπαϊκό αδιέξοδο“, Εφημερίδα «Καθημερινή» – Άρθρο Γνώμης, 02 Οκτωβρίου. Ο υπουργός Οικονομικών της Γαλλίας, κ. Σαπέν, ανακοίνωσε ότι το δημοσιονομικό έλλειμμα της χώρας του θα συνεχίσει να υπερβαίνει τουλάχιστον μέχρι το 2017 τα όρια που προσπαθούν να επιβάλουν οι Βρυξέλλες, με οδηγό πάντα τη Γερμανία και βάση το δημοσιονομικό σύμφωνο που υιοθέτησαν όλες σχεδόν οι χώρες-μέλη της Ε.Ε., περιλαμβανομένης και της Γαλλίας. Η …Read More
Βιβλιοθήκη » EE » Πολιτική » Άρθρα Γνώμης
ECB Sovereign Bond Purchases Remain Unlikely
Kirkegaard, F. J. (2014) “ECB Sovereign Bond Purchases Remain Unlikely“, Peterson Institute for International Economics, 01 Οκτωβρίου. The European Central Bank (ECB) is reportedly on the cusp of another round of euro area sovereign bond purchases. Proponents of such a move say it is necessary if the ECB is to grow its balance sheet by the €750 billion to €1 trillion signaled by its president, Mario Draghi, on September …Read More
Debt Rattle Oct 1 2014: Europe Is Crumbling Into Collapse
Ilargi Meijer, Ρ. (2014) “Debt Rattle Oct 1 2014: Europe Is Crumbling Into Collapse“, The Automatic Earth, 01 Οκτωβρίου. For me, the quote of the day is this one: “If there’s a periphery of the eurozone’s periphery, that’s Naples.”. The city of Napoli hosts ECB boss Mario Draghi and the heads of Europe’s central banks this week in some very posh former Bourbon family royal palace, and the contradictions …Read More
Βιβλιοθήκη » EE » Οικονομία » Πολιτική » Άρθρα Γνώμης
Direct central bank purchases of government debt
Mitchell, B. (2014) “Direct central bank purchases of government debt“, Bill Mitchell Blog, 02 Οκτωβρίου. There was a recently published Federal Reserve Bank of New York Staff Report – Direct Purchases of U.S. Treasury Securities by Federal Reserve Banks – by Kenneth D. Garbade, which recounts the way the central bank in the US could purchase unlimited amounts of treasury debt by creating funds out of thin air and …Read More
The ‘dos and don’ts’ of a growth-friendly policy mix for the Euro area
Altomonte, C. & Aguilante, T. (2014) “The ‘dos and don’ts’ of a growth-friendly policy mix for the Euro area – combining monetary, fiscal and structural measures at the union level and at the national level“, Bruegel Think Tank, 01 Οκτωβρίου. When looking at possible ways out of the euro area crisis, there is a growing consensus that it will require “a policy mix that combines monetary, fiscal and structural measures at the …Read More
Solving Europe’s Credibility Problem
Pisani-Ferry, J. (2014) “Solving Europe’s Credibility Problem“, Project Syndicate, 30 Σεπτεμβρίου. As the eurozone debates how to escape the stagnation trap in which it finds itself, one question has become increasingly important: Can governments credibly commit to trim public spending in the future while avoiding immediate cuts? Fortunately, the answer is a qualified yes: there are ways to ensure that fiscal accommodation now is followed by consolidation later. Growth …Read More
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