World Economic Outlook (WEO) Legacies, Clouds, Uncertainties

1 Οκτωβρίου, 2014

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IMF (2014) “World Economic Outlook (WEO) Legacies, Clouds, Uncertainties“, International Monetary Fund Publications, Οκτώβριος. Chapter 3: Is It Time for an Infrastructure Push? Τhe Macroeconomic Effects of Public Investment This chapter finds that increased public infrastructure investment raises output in both the short and long term, particularly during periods of economic slack and when investment efficiency is high. This suggests that in countries with infrastructure needs, the time is …Read More

Private Bad Debt Buildup Casts Shadow on Greek Rebound

1 Οκτωβρίου, 2014

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Chrepa, E. & Chrysoloras, N. (2014) “Private Bad Debt Buildup Casts Shadow on Greek Rebound“, Bloomberg News, 29 Σεπτεμβρίου. To Aristides Belles, it’s clear what’s blocking Greece’s recovery: a quiet build-up of about 164 billion euros ($208 billion) in bad loans. “The inability of Greek companies to repay their loans to banks and their dues to the state is clearly holding back Greece’s return to growth,” said the chief …Read More

Solving Europe’s Credibility Problem

1 Οκτωβρίου, 2014

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Pisani-Ferry, J. (2014) “Solving Europe’s Credibility Problem“, Project Syndicate, 30 Σεπτεμβρίου. As the eurozone debates how to escape the stagnation trap in which it finds itself, one question has become increasingly important: Can governments credibly commit to trim public spending in the future while avoiding immediate cuts? Fortunately, the answer is a qualified yes: there are ways to ensure that fiscal accommodation now is followed by consolidation later. Growth …Read More

Πολιτικές Ελάχιστου Εισοδήματος στην Ευρωπαϊκή Ένωση και στην Ελλάδα: μία Συγκριτική Ανάλυση

1 Οκτωβρίου, 2014

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Τσέλλου, Σ., Καζάκος, Π., Ρηγίνος, Μ. & Λιαργκόβας, Π. (2014) “Πολιτικές Ελάχιστου Εισοδήματος στην Ευρωπαϊκή Ένωση και στην Ελλάδα: μία Συγκριτική Ανάλυση“, Γραφείο Προϋπολογισμού του Κράτους, Ενδιάμεση Έκθεση για τα μέλη των αρμόδιων Κοινοβουλευτικών Επιτροπών της Βουλής των Ελλήνων, Σεπτέμβριος. Η Ελλάδα βιώνει, εδώ και έξι χρόνια, μια βαθύτατη οικονομική κρίση που έχει σε σημαντικό βαθμό αποδιαρθρώσει τον κοινωνικό ιστό της χώρας. Αντίθετα όμως με άλλες Ευρωπαϊκές χώρες οι …Read More

Re-discovering the Phillips curve

1 Οκτωβρίου, 2014

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Andor, L. (2014) “Re-discovering the Phillips curve“, VoxEU Organisation, 01 Οκτωβρίου. Negative real interest rates imply redistribution from savers to debtors. This column, by the EU Commissioner for Employment, Social Affairs and Inclusion, argues that such redistribution would benefit the whole economy. It would strengthen aggregate demand – including investment demand – at time when such a boost is clearly needed. As a contribution to the EU’s institutional transition, …Read More

Greece, a front line for state-sponsored racism in Europe

30 Σεπτεμβρίου, 2014

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Dedieu, J. P. (2014) “Greece, a front line for state-sponsored racism in Europe“, AlJazeera America, 29 Σεπτεμβρίου. Once the cradle of European civilization, Athens is now the center of a continental decivilizing process On Aug. 2, a group of unidentified men savagely attacked a Pakistani immigrant in Athens, leaving him hospitalized with a broken jaw and multiple bruises. Five days later, Ashkan Najafi, a native of Iran, was severely …Read More

Modelling sticky prices and the effect of monetary shocks

30 Σεπτεμβρίου, 2014

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Alvarez, F., Le Bihan, H. & Lippi, F. (2014) “Modelling sticky prices and the effect of monetary shocks“, VoxEU Organisation, 30 Σεπτεμβρίου. The assumption of sticky prices is central in understanding the effect of monetary policies on the economy. Yet, how to best model price stickiness is an unresolved issue. This column assesses a selection of models that are able to reproduce cross-sectional heterogeneity in the setting of prices. …Read More

Value of health – too often ignored and forgotten by EU policy-makers?

30 Σεπτεμβρίου, 2014

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Hedberg, A. (2014) “Value of health – too often ignored and forgotten by EU policy-makers?“, European Policy Centre (EPC) Publications, Commentary, 29 Σεπτεμβρίου. Whether on national or European level, policy-makers tend to under-value health, healthy society, and healthy citizens in policy-making. As the European Commission continue to ponder how questions related to health should be reflected in EU policy-making and what role it should take, there are three issues …Read More

The Eurozone’s Unresolved Situation – Can market forces prevail in the Eurozone?

29 Σεπτεμβρίου, 2014

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Tavares, E. (2014) “The Eurozone’s Unresolved Situation – Can market forces prevail in the Eurozone?“, ΘZeroHedge, 28 Σεπτεμβρίου. With another round of central bank intervention coming four plus years after the start of the Eurozone debt crisis, this is a question worth considering, at a time when the Southern Eurozone members – Italy, Spain, Greece and Portugal, which collectively account for over 30% of the GDP of the early …Read More

Cross-country differences in perceptions of inequality

29 Σεπτεμβρίου, 2014

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Niehues, J. (2014) “Cross-country differences in perceptions of inequality“, VoxEU Organisation, 28 Σεπτεμβρίου. Income inequality is high in the US, but the support of social welfare programmes is low. In Europe, income inequality is low and the welfare states are generous. This column argues that this paradox is largely due to perceived inequality. Many Europeans believe that there is high inequality in their countries, justifying the need for redistributive …Read More

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