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World Economic Outlook, October 2014: Legacies-Clouds-Uncertainties

IMF (2014) “World Economic Outlook, October 2014: Legacies-Clouds-Uncertainties“, World Economic and Financial Surveys, International Monetary Fund.   Abstract The pace of recovery has disappointed in recent years, and downside risks have increased, including from heightened geopolitical tensions. These increased risks make it a priority to raise actual and potential growth. In a number of economies, an increase in public infrastructure investment can also provide support to demand and help boost …Read More

Annual Report on European SMEs 2013/2014: A Partial and Fragile Recovery

European Commission, “Annual Report on European SMEs 2013/2014: A Partial and Fragile Recovery“, Final Report – July 2014, SME Performance Review 2013/2014.   The SME Performance Review is one of the main tools the European Commission uses to monitor and assess countries’ progress in implementing the Small Business Act (SBA) on a yearly basis. With an emphasis on the measures from the SBA Action Plan, the review brings comprehensive information …Read More

The Lost Consistency of European Policy Makers

Saraceno, F. (2014) “The Lost Consistency of European Policy Makers“, Sparse Thoughts of a Gloomy European Economist Blog, 06 Οκτωβρίου.   Just a quick note on something that went surprisingly unnoticed so far. After Draghi’s speech in Jackson Hole, a new consensus seems to have developed among European policy makers, based on three propositions: Europe suffers from deficient aggregate demand Monetary policy has lost traction Investment is key, both as a countercyclical …Read More

Systemic equilibrium in a Bretton Woods II-type international monetary system: the special roles of reserve issuers and reserve accumulators

Austin, Κ. (2014) “Systemic equilibrium in a Bretton Woods II-type international monetary system: the special roles of reserve issuers and reserve accumulators“, Journal of Post Keynesian Economics, 2014, vol. 36, issue 4, pages 607-634.   This article develops a model, based on balance-of-payment identities, of the new international monetary system (Bretton Woods II or BWII). It shows that if some countries engineer current account surpluses by exchange-rate manipulation and foreign-reserve …Read More

Electricity Tariff Deficit: Temporary or Permanent problem in the EU?

Johannesson Linden, Α., Kalantzis, F., Maincent, E. & Pienkowski, J. (2014) “Electricity Tariff Deficit: Temporary or Permanent problem in the EU?“, European Economy. Economic Papers. 534. Οκτώβριος.   In the recent years electricity tariff deficits emerged in Spain, Portugal, Greece and in some other Member States. Tariff deficits are shortfalls of revenues in the electricity system, which arise when the tariffs for the regulated components of the retail electricity price …Read More

The End of Normal: The Great Crisis and the Future of Growth

Galbraith, J. K., The End of Normal: The Great Crisis and the Future of Growth, Simon and Shuster, New York: Σεπτέμβριος 2014.   The years since the Great Crisis of 2008 have seen slow growth, high unemployment, falling home values, chronic deficits, a deepening disaster in Europe—and a stale argument between two false solutions, “austerity” on one side and “stimulus” on the other. Both sides and practically all analyses of …Read More

The German experiment has failed

Mitchell, B. (2014) “The German experiment has failed“, Mainly Macro Blog, 07 Οκτωβρίου.   In the last week, several new data releases have shown that the Eurozone crisis is now consolidating in the core of Europe – France, Italy and … yes, Germany. The latter has forced nonsensical austerity on its trading partners in the monetary union. And, finally, the inevitable has happened. Germany’s factories are now in decline because …Read More

EU Employment and Social Situation – Quarterly Review

European Commission (2014) EU Employment and Social Situation – Quarterly Review, Social Europe, Publications Office of the European Union: September 2014, 06 Οκτωβρίου.   Monitoring of the labour market and the social situation The EU Employment and Social Situation Quarterly Review gives an overview of recent developments in the European labour market and social situation, including short-term changes in GDP and employment growth, in employment and unemployment rates, and in …Read More

Eurostat Regional Yearbook 2014

Kotzeva, M. (Ed.) (2014) Eurostat Regional Yearbook 2014, Eurostat Publications, Οκτώβριος.   Statistical information is an important tool for understanding and quantifying the impact of political decisions in a specific territory or region. The Eurostat regional yearbook 2014 gives a detailed picture relating to a broad range of statistical topics across the regions of the Member States of the European Union (EU), as well as the regions of EFTA and …Read More

Challenges and New Beginnings: Priorities for the EU’s New Leadership

European Policy Centre (2014) “Challenges and New Beginnings: Priorities for the EU’s New Leadership, Challenge Europe, Issue 22, Σεπτέμβριος.   Foreword There has been a lot of attention on the current transition of power taking place in Brussels. For the first time in European Union history, the new President of the European Commission will take up his post after being nominated as ‘Spitzenkandidat’ of the party group which gained the …Read More