Darvas, Zsolt, Varga, Balázs, (2013), “Inflation persistence in Central and Eastern European countries”, Bruegel Working Paper, N. 2013/04. This paper studies inflation persistence with time-varying coefficient autoregressions for twelve central European countries,in comparison with the United States and the euro area. Inflation persistence tends to be higher in times of high inflation. Since the oil price shocks, inflation persistence has declined both in the US and euro-area. In most central …Read More
Report on public finances in EMU
European Commission, (2013), “Report on public finances in EMU”, European Economy, 4/2013, July. The Report presents recent budgetary developments, describes advances in budgetary surveillance and proposes a new indicator of fiscal effort based on a narrative approach. It also shows the developments of health expenditures and the possibility of introducing cost-containing reforms that preserve high quality standards in the provision of health services.
Action Plan on Base Erosion and Profit Shifting
OECD, (2013), Action Plan on Base Erosion and Profit Shifting, 19 July. Taxation is at the core of countries’ sovereignty, but in recent years, multinational companies have avoided taxation in their home countries by pushing activities abroad to low or no tax jurisdictions. The G20 asked OECD to address this growing problem by creating this action plan to address base erosion and profit shifting. This plan identifies a series of domestic and …Read More
German Banks on Top
Zingales, Luigi, (2013), “German Banks on Top”, www.project-syndicate.org, 18 July. Overcoming the European Union’s current economic malaise, as almost everyone acknowledges, requires deeper integration, with the first step taking the form of a banking union supervised by the European Central Bank. But Europe’s banking union also requires uniform rules for winding up insolvent financial institutions – and this has become a sticking point.
OECD Employment Outlook
OECD, (2013), Employment Outlook, Paris. Concerns are growing in many countries about the strains that persistently high levels of unemployment are placing on the social fabric. Over five years have passed since the onset of the global financial and economic crisis but an uneven and weak recovery has not generated enough jobs to make a serious dent in unemployment in many OECD countries. In April 2013, 8% of the OECD …Read More