Shilling, Α. G. (2014) “Why Countries Wage Currency Wars, BloombergView, 23 Νοεμβρίου. The U.S. dollar has been on a tear this year, rising against the currencies of virtually all major developed economies. What we’re seeing around the world is intense — and in some cases, deliberate — devaluations. What’s going on and what are the investment implications? One reason for the devaluations is that, when economic growth is weak …Read More
Why We Need Our Fiscal Policy Instrument Back
Wren-Lewis, S. (2014) “Why We Need Our Fiscal Policy Instrument Back, Social Europe Journal, 24 Νοεμβρίου. The latest Bank of England forecast has inflation returning to the 2% target by the end of 2017, which is in three years time. That is an unusually long time to be away from target. So what is the MPC proposing to do about this long lapse from target? Absolutely nothing. Tony Yates goes through all the detail, but …Read More
Vicious circle(s) 2.0 – while trying to sever the sovereign-banking link, we may be disregarding vulnerabilities from banks’ mutual interconnectedness
Merler, S. (2014) “Vicious circle(s) 2.0 – while trying to sever the sovereign-banking link, we may be disregarding vulnerabilities from banks’ mutual interconnectedness“, Bruegel Institute, 20 Νοεμβρίου. Since the beginning of the crisis – and more so since 2010 – Europeans have been looking at the sovereign-banking “vicious circle”, tying the dismal fates of States and banks together. This has emerged as a characteristic disease during the euro crisis, …Read More
Benchmarking the European Central Bank’s asset quality review and stress test: A tale of two leverage ratios
Acharya, V. & Steffen, S. (2014) “Benchmarking the European Central Bank’s asset quality review and stress test: A tale of two leverage ratios“, VoxEU Organisation, 21 Νοεμβρίου. The ECB estimated that Eurozone banks would face a capital shortfall of €25 billion in a severe crisis. Earlier work by the authors estimated the shortfall to be 30 times higher. This column argues that this striking divergence can be explained by …Read More
The Commission after the 2014 EP Elections
Wille, Α. (2014) “The Commission after the 2014 EP Elections“, Ideas on Europe – UACES Blog, 19 Νοεμβρίου. ‘This Time It’s Different’! This was the campaigning slogan for the official run-up ahead of the 2014 European Parliament (EP) elections. Voters were led to believe that these elections would be different. Not only would they be choosing the EP, but indirectly they also would select the next president of the …Read More
Why the views of middle class citizens help explain increased choice in European healthcare systems
Costa-i-Font, J. & Zigante, V. (2014) “Why the views of middle class citizens help explain increased choice in European healthcare systems“, LSE EUROPP, 21 Νοεμβρίου. Several countries across Europe have attempted to reform their health systems by allowing patients more choice over their healthcare provider. The typical rationale for this strategy is that by creating competition between providers, there will be an increased incentive to improve the efficiency and …Read More
The Eurozone’s QE Problem
Durden, T. (2014) “The Eurozone’s QE Problem“, ΘZeroHedge, 19 Νοεμβρίου. Over the last couple of weeks, as the Federal Reserve ended their latest round of quantitative easing, there have been many calls that the pickup of the “QE Baton” by the BOJ and ECB. The problem is that the impact of liquidity interventions in Japan and the Eurozone do not carry the same “punch” as was witnessed in the …Read More
Πώς επενδύουν οι ελληνικές επιχειρήσεις στο εξωτερικό; (1/2) Άμεσες Ξένες Επενδύσεις
Γιακούλας, Δ. (2014) “Πώς επενδύουν οι ελληνικές επιχειρήσεις στο εξωτερικό; (1/2) Άμεσες Ξένες Επενδύσεις“, Μονάδα Καινοτομίας και Επιχειρηματικότητας Εθνικού Μετσόβειου Πολυτεχνείου, 6ο Ενημερωτικό Δελτίο, 06 Νοεμβρίου 2014. Οι Άμεσες Ξένες Επενδύσεις αποτελούν την πιο προωθημένη επιλογή διεθνοποίησης της επιχείρησης και θεωρούνται ως ουσιαστικός μοχλός οικονομικής ανάπτυξης είτε άμεσα είτε μέσω αποτελεσμάτων διάχυσης. Οι ελληνικές άμεσες επενδύσεις στο εξωτερικό και ο ρόλος τους στην εγχώρια ανάπτυξη βρέθηκαν στο επίκεντρο του …Read More
Public Capital in the 21st Century
Corneo, G. (2014) “Public Capital in the 21st Century“, Friedrich Ebert Stiftung, Freie Uni Berlin & Social Europe Journal, Research Essay No.2, Νοέμβριος. The increase of income and wealth concentration threatens the European project of a good society. Capital taxation alone cannot stop this process, but a combination of moderately higher capital taxes and a novel role of public capital will do. The governance of public capital requires carefully …Read More
Quantitative Easing and Deflation in a Creditor Economy
Daniel Gros: “Quantitative Easing and Deflation in a Creditor Economy, στο Growth, Convergence and Income Distribution: The Road from the Brisbane G-20 Summit, σσ. 87-91, Think Tank 20: Νοέμβριος 2014. On November 15-16th, world leaders gathered in Brisbane, Australia for the ninth G-20 summit, aimed at increasing world GDP and charting a pathway to sustainable, inclusive growth and resilience through both short and medium-term actions. Experts from think tanks …Read More