Mainly Macro, (2018), “Why does economics get so much stick?”, 9 Ιανουαρίου Because the advice of economists is so hopeless, you may say. Well think about the following thought experiment. After the financial crisis. suppose people had done the opposite of what the majority of economists said they should do. We do not need to imagine over Brexit, because most of the 52% who voted for Brexit chose to ignore, …Read More

OECD, (2018), “OECD annual inflation picks up to 2.4% in November 2017”, 9 Ιανουαρίου Annual inflation in the OECD area picked up for the fifth consecutive month in November 2017, to 2.4%, compared with 2.2% in October 2017. This increase in the annual rate of inflation was driven by both energy and food prices. Energy price inflation rose to 7.7% in November, compared with 5.8% in October, while food price inflation rose to …Read More

Maurice Obstfeld, Romain Duval, (2018), “Tight monetary policy is not the answer to weak productivity growth”, Vox, 10 Iανουαρίου The widespread and persistent productivity slowdown witnessed since the Global Crisis had already begun in advanced and low-income countries prior to the crisis. This column argues that the crisis amplified the slowdown by creating ‘productivity hysteresis’, and that monetary policy played an ambiguous role. Policymakers must now address the legacies of the …Read More

Alexander Friedman, (2017), “Will Monetary Policy Trigger Another Financial Crisis?”, Project Syndicate, 21 Δεκεμβρίου Sustained unconventional monetary policies in the years after the 2008 global financial crisis created the conditions for the second-longest bull market in history. But they also may have sown the seeds of the next financial crisis, which might take root as central banks continue to normalize their policies and shrink their balance sheets. Σχετικές Αναρτήσεις Michael …Read More

Michael J. Boskin (2017), “The World Economy in 2018”, Project Syndicate, 21 Δεκεμβρίου In the tenth year since the start of the global financial crisis, the US economy reached a new high-water mark, and the global economy exceeded expectations. But whether these positive trends continue in 2018 will depend on a variety of factors, from fiscal and monetary policymaking to domestic politics and regional stability. Σχετικές Αναρτήσεις Έφης Τριήρης, Αγγελική Κοτσοβού, …Read More

Sony Kapoor, (2017), “Euro-Zone Reform Proposals Don’t Go Far Enough”, BloombergView, 22 Δεκεμβρίου Large bank failures in recent years have led to reforms that strengthen crisis prevention and give regulators and banks the tools for dealing with crises that do occur. Similar policy measures can be helpful in dealing with sovereign crises — when governments run out of money and credit. Unfortunately, the European Commission misses the mark in its …Read More

Naomi O’ Leary, (2017), “How Italy turned Euroskeptic”, Politico, 20 Δεκεμβρίου “It’s a really good question,” Ruggeri pauses. “Yes. I feel like a European citizen because we are in the EU, and we are one of the founding members. But at this moment I don’t see good things from Europe, because of the problems with immigration. They are helping us very little. There’s an emergency, and it seems like the …Read More

European Central Bank, (2017), “Eurosystem staff macroeconomic projections for the euro area”, Δεκέμβριος 2017 The economic expansion in the euro area is projected to remain robust, with growth stronger than previously expected and significantly above potential. Real GDP growth is projected to slow gradually, from 2.4% in 2017 to 1.7% in 2020, as the effects of a number of factors supporting growth slowly fade away. HICP inflation is expected to be broadly stable in …Read More