Reserves for everyone – towards a new monetary regime?

21 Ιανουαρίου, 2015

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Niepelt, D. (2015) “Reserves for everyone – towards a new monetary regime?“, VoxEU Organisation, 21 Ιανουαρίου. Recent experience with the zero lower bound on nominal interest rates, and the use of high-denomination notes by criminals and tax evaders, have led to revived proposals to phase out cash. This column argues that abolishing cash may be neither necessary nor sufficient to overcome the zero lower bound problem, and would severely …Read More

Will e-commerce make prices more flexible?

21 Ιανουαρίου, 2015

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Gorodnichenko, Υ., Talavera, Ο. & Sheremirov, S. (2015) “Will e-commerce make prices more flexible?, VoxEU Organisation, 21 Ιανουαρίου. An increasing share of purchases are made online where price changes are very cheap. This column presents new evidence on price dispersions and frictions using novel data from an online shopping platform from the US and the UK. Online prices are more flexible than prices in conventional stores but still sticky. …Read More

Denmark should abandon its euro peg

21 Ιανουαρίου, 2015

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Mitchell, B. (2015) “Denmark should abandon its euro peg, Bill Mitchell Blog, 21 Ιανουαρίου. In my soon-to-be-published book on the Eurozone I examined the case of Denmark in some detail in the context of the evolution of the European Monetary System, the European Exchange Rate Mechanism (ERM), and the ratification process of the Treaty of Maastricht. Denmark was a participant in all the attempts to maintain fixed exchange rates …Read More

‘More Europe’ in 2015? For the EU, relevance on the world stage starts with common economic and security policies

21 Ιανουαρίου, 2015

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Crowley, M. (2015) ‘More Europe’ in 2015? For the EU, relevance on the world stage starts with common economic and security policies, US News and World Report, 21 Ιανουαρίου. The new year brought news that in the third quarter of 2014 the United States experienced its strongest annual growth – five percent – since 2003. Meanwhile, the European Union stagnates, managing only a 0.2 percent growth rate for the …Read More

Falling oil prices should help Europe’s ailing economies, but the wider implications of the price drop remain to be seen

21 Ιανουαρίου, 2015

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Scholtens, B. (2015) “Falling oil prices should help Europe’s ailing economies, but the wider implications of the price drop remain to be seen“, LSE EUROPP, 21 Ιανουαρίου. How will the drop in oil prices affect European economies? As Bert Scholtens writes, the general expectation is that a fall in oil prices should help economic growth across Europe, but there are nevertheless a number of key factors which play an …Read More

The European Union, Nationalism and the Crisis of Europe

20 Ιανουαρίου, 2015

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Friedman, G. (2015) “The European Union, Nationalism and the Crisis of Europe“, STRATFOR, 20 Ιανουαρίου. Last week, I wrote about the crisis of Islamic radicalism and the problem of European nationalism. This week’s events give me the opportunity to address the question of European nationalism again, this time from the standpoint of the European Union and the European Central Bank, using a term that only an economist could invent: …Read More

Will R&D tax incentives get Europe growing again?

20 Ιανουαρίου, 2015

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Gaillard, E. & Straathof, B. (2015) “Will R&D tax incentives get Europe growing again?“, VoxEU Organisation, 20 Ιανουαρίου. Tax incentives have become a common policy tool for encouraging firms to spend more on research and development – and the recession has further raised interest in the effectiveness of this policy. This column highlights a new review of the empirical evidence, which suggests that fiscal incentives for R&D only modestly …Read More

World Economic Outlook Update

20 Ιανουαρίου, 2015

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World Economic Outlook Update, International Monetary Fund, Ιανουάριος 2015. Cross Currents Global growth will receive a boost from lower oil prices, which reflect to an important extent higher supply. But this boost is projected to be more than offset by negative factors, including investment weakness as adjustment to diminished expectations about medium-term growth continues in many advanced and emerging market economies. Global growth in 2015–16 is projected at 3.5 …Read More

World Employment and Social Outlook – Trends 2015 (full report)

20 Ιανουαρίου, 2015

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World Employment and Social Outlook – Trends 2015 (full report), International Labour Organization, Ιανουάριος 2015. Summary Renewed turbulence over the employment horizon The world economy continues to expand at rates well below the trends that preceded the advent of the global crisis in 2008 and is unable to close the significant employment and social gaps that have emerged. The challenge of bringing unemployment and underemployment back to pre-crisis levels …Read More

Which economic theories are especially widely misunderstood?

20 Ιανουαρίου, 2015

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Cowen, Τ. (2015) “Which economic theories are especially widely misunderstood?“, Marginal Revolution Blog, 20 Ιανουαρίου. A lot of them are, actually. The efficient markets hypothesis might be one, as I’m not sure I understand it myself! (Would the existence of just one investor “beating the market” disprove it? Probably not, but then how many are needed? How many of them have to beat the market “for the right reasons”? …Read More

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