Boskin, M., (2014), “A Dutch Cure for the Dutch Disease”, Project Syndicate, 16 Ιανουαρίου. Far too few governments rein in their countries’ bloated welfare states before disaster strikes. As a result, some citizens eventually suffer the economic equivalent of a heart attack: wrenching declines in living standards as they are victimized by unsustainable programs’ endgame. Greece and the city of Detroit are only the most recent grim examples. Σχετικές Αναρτήσεις …Read More
Why has Europe’s economy done worse than the US?
Weisbrot, M., (2014),“Why has Europe’s economy done worse than the US?”, The Guardian, 16 Ιανουαρίου. The eurozone experience shows what can happen when people lose control over their government’s economic policies. Σχετικές Αναρτήσεις De Grauwe, P. and Ji, Y., (2013), “The Legacy of Austerity in the Eurozone”, Centre for European Policy Studies, 04 Οκτωβρίου. Oxfam, (2013), “A Cautionary Tale: The true cost of austerity and inequality in Europe”, Oxfam Briefing …Read More
The roots of shadow banking
Perotti, Enr., (2014), “The roots of shadow banking” , Voxeu, 16 Ιανουαρίου. The ‘shadow banking’ sector is a loose title given to the financial sector that exists outside the regulatory perimeter but mimics some structures and functions of banks. Σχετικές Αναρτήσεις Pozsar, Z., (2013), “Shadow banking and the global financial ecosystem” , VoxEU, 07 Νοεμβρίου. Gros, D., (2013), “The European Banking Disunion”, Project Syndicate, 06 Νοεμβρίου. Den Haan, W. ed., (2013), Forward Guidance: Perspectives …Read More
2014 Financial Odyssey: How should the first steps of the banking union be implemented
Merler, S., Wolff, G., (2014), “2014 Financial Odyssey: How should the first steps of the banking union be implemented”, Voxeu, Ιανουάριος. The European Banking Union matures in 2014, with the ECB assuming its role as single supervisor. This column outlines the transition to the new steady state. This will involve a comprehensive balance sheet assessment, new rules regarding recapitalisation, restructuring, and resolution, and the determination of how recapitalisation costs are …Read More
Education to employment: Getting Europe’s youth into work
Mourshed, Μ., Patel, J., Suder, K., (2014), “Education to employment: Getting Europe’s youth into work”, McKinsey & Company, Ιανουάριος. The problem of youth unemployment in the European Union is not new. Youth unemployment has been double or even triple the rate of general unemployment in Europe for the last 20 years. The events of the past few years have dramatically exacerbated it, however: 5.6 million young people are unemployed across Europe, …Read More
Labor Market Reforms and the Great Recession
Zimmermann, Kl., (2013), “Labor Market Reforms and the Great Recession”, IZA Policy Paper, N. 75. Germany can be regarded as a showcase for labor market reforms. Moreover, its labor market responded only mildly to the Great Recession. This paper assesses the role of the labor market reforms for the latter development. Against this background, general lessons are drawn from the German experience that include, for example, placing a greater emphasis …Read More
Powering European Sector Innovation: Towards a New Architecture
European Commission, (2013), “Powering European Sector Innovation: Towards a New Architecture”, Report of the Expert Group on Public Sector Innovation. In the midst of a fragile economic recovery across the European continent and stressed public finances, many governments are faced with long-term issues such as ageing societies, mounting social security and healthcare costs, high youth unemployment and an outdated public service infrastructure that lags behind the needs of modern citizens …Read More
Bridging the Gap Between Europe’s Economic Cultures
Monti, Mario, (2013), “Bridging the Gap Between Europe’s Economic Cultures” The Globalist, 19 Δεκεμβρίου. For a few years now, I have felt as if I live intellectually in the Alps. That is because, in European debates and in the European Council, I have often acted as a sort of translator of the virtues of discipline into Mediterranean languages. At the same time, for the northern countries I have served as …Read More
Ο Ελέφαντας και η διαφθορά
Παγουλάτος, Γ., (2013), «Ο Ελέφαντας και η διαφθορά» , Η Καθημερινή, 12 Ιανουαρίου. Από τις δύσοσμες εξοπλιστικές προμήθειες μέχρι τις μίζες κομματικών διοικήσεων και τα θαλασσοδάνεια σε ημέτερους, οι αποκαλύψεις των τελευταίων εβδομάδων είναι καταιγιστικές όσο και εξυγιαντικές. Δείχνουν ότι ορισμένοι θύλακες του κράτους (στη Δικαιοσύνη, στην αστυνομία, στις ελεγκτικές αρχές) αντιστέκονται στη σήψη κι επιμένουν να λειτουργούν. Ενα ενθαρρυντικό μήνυμα φτάνει στην κοινωνία, σε μια περίοδο που οι αδύνατοι …Read More
Advanced Malaise
Stiglitz, Joseph, (2013), “Advanced Malaise”, Project Syndicate, 13 Ιανουαρίου. Economics is often called the dismal science, and for the last half-decade it has come by its reputation honestly in the advanced economies. Unfortunately, the year ahead will bring little relief. Σχετικές αναρτήσεις Pissarides, C., (2013), “The Euro Should Be Growth Friendly or Be Dismantled”, Social Europe Journal, 16 December. Sinn, H.W., (2013), “Rescuing Europe from the Ground Up” , Project Syndicate, 21 …Read More