Hänska, Max, (2016), “The EU, a Fair-Weather Ship Between Scylla and Charybdis”, LSE blogs/EuroCrisis, 5 Απριλίου The EU faces debilitation by multiple crises: economic malaise and high unemployment, an influx of refugee and mounting security concerns. They all lay bare that resilience was not build into the EU’s architecture, it lacks the institutional capacities to respond to external shocks. Either its members create the capacities needed to respond resolutely to such …Read More
Gender Diversity in Senior Positions and Firm Performance : Evidence from Europe
Christiansen, Lone Engbo, Lin, Huidan, Pereira, Joana, Topalova, Petia, Turk, Rima, (2016), “Gender Diversity in Senior Positions and Firm Performance : Evidence from Europe “, IMF Working Papers:2016/50Series, Μάρτιος This paper examines the link between gender diversity in senior corporate positions and financial performance of 2 million companies in Europe. We document a positive association between corporate return on assets and the share of women in senior positions and establish …Read More
Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe
Kotia, Ananya ,Duarte Lledo, Victor, (2016), “Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe”, IMF WP/16/84, Απρίλιος This paper studies how fiscal rules interact with the intergovernmental fiscal framework to foster fiscal discipline among European subnational governments. We use political variables describing the fiscal attitudes of the central government as instruments to obtain consistent estimates of the impact of subnational fiscal rules on fiscal balances. The results suggest …Read More
Mere criticism of the ECB is no solution
Fratzscher, Marcel, Gropp, Reint , Kotz, Hans-Helmut, Krahnen, Jan , Odendahl, Christian, Weder Di Mauro, Beatrice, Wolff, Guntram B., (2016), “Mere criticism of the ECB is no solution”, Bruegel, 10 Απριλίου The eurozone remains in a deep, largely macro-economic crisis. A robust global economy and falling oil prices have supported Europe’s economy for some time, but by now it is clear that the eurozone will only be able to pull itself …Read More
Investment in Europe: making the best of the Juncker Plan
Rubio, Eulalia, Rinaldi, David , Pellerin-Carlin, Thomas,(2016), “Investment in Europe: making the best of the Juncker Plan”, Jacques Delors Institute Studies&Reports, Μάρτιος This report, written by Eulalia Rubio, David Rinaldi and Thomas Pellerin-Carlin, respectively senior research fellow ans research fellows at the Jacques Delors Institute and foreworded by Enrico Letta, vice-president of the Jacques Delors Institute, analyses the strengths and weaknesses of the Juncker Plan. Based on the Plan’s preliminary results, experts’ …Read More
Eurozone crisis and social models: what we can learn from italy and spain
Perez, Sofia, (2014), “Eurozone crisis and social models: what we can learn from Italy and Spain”, Minda de Ginzburg Center for European Studies, Harvard University, Open Forum Working Papers #20, This paper considers the role of social model features in the economic performance of Italy and Spain during the run-up to the Eurozone crisis, as well as the consequences of that crisis, in turn, for the two countries social models. It …Read More
Firms and Labor Market Inequality: Evidence and Some Theory
Card, David , Cardoso, Ana Rute, Heining, Joerg, Kline, Patrick, (2016), “Firms and Labor Market Inequality: Evidence and Some Theory”, IZA Discussion Paper No. 9850, Μάρτιος 2016 We review the literature on firm-level drivers of labor market inequality. There is strong evidence from a variety of fields that standard measures of productivity – like output per worker or total factor productivity – vary substantially across firms, even within narrowlydefined industries. Several recent …Read More
Two views of the EZ Crisis: Government failure vs market failure
Bofinger, Peter, (2016), “Two views of the EZ Crisis: Government failure vs market failure”, Voxeu, 08 Απριλίου Diagnosing the EZ Crisis is a critical first step towards developing a consensus on how the monetary union should be fixed. This column contrasts views that place the blame mostly on markets with those that place the onus on governments. The fixes necessary for the survival of the euro are – correspondingly – more ‘market …Read More
The structural budget balance limbo
Darvas, Zsolt, (2016), “The structural budget balance limbo”, Bruegel, 7 Απριλίου Revision of an estimate when new data becomes available is quite natural. Also, in some years the methodologies used to estimate potential output and the structural balance were revised. It is better to revise an initial estimate when it turns out later that it was incorrect than to continue using an incorrect estimate. But the problem is that the EU …Read More
Economic Bulletin
European Central Bank, (2016), “Economic Bulletin”, Issue 2/2016, 24 Μαρτίου At its monetary policy meeting on 10 March 2016, based on the regular economic and monetary analyses, the Governing Council conducted a thorough review of the monetary policy stance, in which it also took into account the new macroeconomic projections by ECB staff extending into the year 2018. As a result, the Governing Council decided on a set of measures …Read More