Gros, D. (2014) “Investment as the key to recovery in the euro area?“, Economic Policy, CEPS Policy Briefs Νο. 34, 18 Νοεμβρίου. Investment has declined in the euro area since the start of the economic and financial crisis, but this does not mean that there is necessarily an ‘investment gap’, explains Daniel Gros in this CEPS Policy Brief. Investment was probably above a sustainable level due to the credit …Read More
Vogel, L. (2014) “Structural reforms at the zero bound“, European Economy – Economic Papers. Νο. 537, European Commission Publications, Νοέμβριος 2014: Βρυξέλλες. This paper uses the European Commission’s QUEST macroeconomic model to analyse the impact of structural reforms on economic activity in an environment in which the zero bound on monetary policy rates is temporarily binding. The simulations suggest that although such reforms can have a negative impact on …Read More
Rodríguez-Pose, Α. & Hardy, C. D. (2014) “Cultural diversity and entrepreneurship: Evidence from England and Wales“, VoxEU Organisation, 04 Δεκεμβρίου. Cultural diversity is increasing globally. This column examines diversity from the point of view of entrepreneurship. It demonstrates that cultural diversity breeds entrepreneurship – but the nature of the diversity is critical. Recent migrants, rather than the descendants of past migrants, create the conditions for a more dynamic entrepreneurial …Read More
Katz, F. L., Kroft, K., Lange, F. & Notowidigdo, M. (2014) “Addressing long-term unemployment in the aftermath of the Great Recession“, VoxEU Organisation, 03 Δεκεμβρίου. In the aftermath of the Great Recession, there remains a large number of long-term unemployed across countries. This column argues that policies targeting the long-term unemployed, if effective, may have substantial benefits for the aggregate labour markets. However, evidence of the effectiveness of active …Read More
Fatas, A. (2014) “The logic behind the German Euro gamble“, Antonio Fatas on the Global Economy Blog, 02 Δεκεμβρίου. In the current economic policy debate in Europe there seems to be an increasing polarization between the German view and the view of the other countries. How did we end up with such polarized views of the world? What is the basis for the apparent German stubbornness to change their …Read More
Mitchell, B. (2014) “The inexact science of calibrating fiscal policy“, Bill Mitchell Blog: Modern Monetary Theory … macroeconomic reality, 02 Δεκεμβρίου. In the showdown between France and the European Commission last week, France clearly is the winner on points, which is not surprising given the impossibility of the task the Commission had set it in meeting the Excessive Deficit Procedure (EDP) rules and the danger to the latter if …Read More
Kenneth, T. (2014) “The German euro is overvalued“, US/ Global Economics, Angry Bear Blog, 02 Δεκεμβρίου. I keep telling people that the German euro is undervalued, but some folks seem not to believe me. (See the comments section from this post last year for an example.) But this is a really big deal. The dominant narrative about the eurozone crisis is that fiscally irresponsible countries like Greece were bringing …Read More
Bauer, W. M. & Becker, S. (2014) “The European Commission’s stronger role in economic governance has made it an unexpected ‘winner’ from the Eurozone crisis“, LSE EUROPP, 02 Δεκεμβρίου. Several commentators have argued that the Eurozone crisis has resulted in more intergovernmental EU decision-making, with the European Commission in particular being weakened by the role taken on by the European Council in the area of economic governance. Michael W. …Read More
Απόστολος Λακασάς, Η καινοτόμος Ελλάδα μεταναστεύει, Εφημερίδα «Καθημερινή», 30 Νοεμβρίου. Τα στοιχεία σοκ, που παρουσιάζει σήμερα η «Κ», αποτυπώνουν το μεγάλο πρόβλημα της «διαρροής εγκεφάλων» από την Ελλάδα, προοιωνιζόμενα ίσως τα χειρότερα. Συνολικά και σε όλους τους τομείς, πάνω από 100.000 Ελληνες επιστήμονες, στην πλειονότητα νέοι, βρίσκονται στο εξωτερικό, είτε έχοντας εδραιωθεί επαγγελματικά είτε αναζητώντας μία καλή θέση εργασίας. Επίσης, ακόμη 30.000 Ελληνες σπουδάζουν σε πανεπιστήμια του εξωτερικού, πολλοί …Read More
Foremny, D. Freier, R., Moessinger, Μ. D. & Yeter, Μ. (2014) “Overlapping Political Budget Cycles in the Legislative and the Executive“, Discussion Paper No. 14-099, Centre for European Economic Research, Δεκέμβριος. Abstract We advance the literature on political budget cycles by testing separately for cycles in expenditures for elections in the legislative and the executive. Using municipal data, we can separately identify these cycles and account for general year …Read More
