Eurostat/Euro area government deficit at 0.5% and EU28 at 0.6% of GDP/23 April 2019 In 2018, the government deficit and debt of both the euro area (EA19) and the EU28 decreased in relative term compared with 2017. In the euro area the government deficit to GDP ratio fell from 1.0% in 2017 to 0.5% in 2018, and in the EU28 from 1.0% to 0.6%. In the euro area the government …Read More
Thomas Blanchet, Lucan Chancel and Amory Gethin, (2019), “Forty years of inequality in Europe: Evidence from distributional national accounts”, VoxEU, 22 April Despite the growing importance of inequalities in policy debates, it is still difficult to compare inequality levels across European countries and to tell how European growth has been shared across income groups. This column draws on new evidence combining surveys, tax data, and national accounts to document a …Read More
Karl Aiginger, (2019), “Populism: Roots, consequences, and counter strategy”, 20 April Populism represents a challenge to liberal democracy, pluralism, human rights, and the exchange of ideas. This column examines the features and drivers of populism, as well as the potential strategic response by the EU and its member states. This includes a vision for Europe to become the role model for high-income societies providing well-being, lower unemployment, and less inequality, …Read More
Eurostat/Annual inflation down to 1.4% in the euro area/17 April 2019 The euro area annual inflation rate was 1.4% in March 2019, down from 1.5% in February 2019. A year earlier, the rate was 1.4%. European Union annual inflation was 1.6% in March 2019, stable compared to February 2019. A year earlier, the rate was 1.6%. These figures are published by Eurostat, the statistical office of the European Union. Relevant …Read More
PwC, (2019), “10 years of crisis: smaller but unreformed corporate economy”, April In 2018, Greece officially exited the longest and deepest crisis that has been recorded in the Western world. Eight years of constant drop of economic activity, one could imagine that the productive tissue of the country has been destroyed. Relevant Posts Theodore Pelagidis, (2019), «Greek economy: From bailout program exit to recovery?», Brookings, 6 March Sotiris Nikas, (2019), …Read More
Karim Bekhtiar, Pirmin Fessler, Peter Lindner, (2019), “Risky assets in Europe and the US: risk vulnerability, risk aversion and economic environment“, ECB Working Paper Series No 2270 , April We use cross-country microdata to analyse the risk taking of households in Europe and the US. Concerning the extensive as well as the intensive margin of risky assets, European households differ substantially from US households; but also inside Europe we document …Read More
Xavier Timbeau, (2019), “The sustainability imperative—how really to assess the European economy”, Social Europe, 10 April It was during the climax of the so-called euro sovereign debt crisis that the independent Annual Growth Survey (iAGS) was initiated, with the first report published in November 2012. Its aim, in collaboration with the Socialists and Democrats group at the European Parliament, has been to question and challenge the European Commission contribution to …Read More
Ana Palacio, (2019), “Closing Europe’s Confidence Gap”, Project Syndicate, 12 April The dearth of public trust and self-confidence in the European Union is contributing to policy paralysis, fueling public outrage, and undercutting the EU’s ability to determine its own destiny. Both before and after next month’s European Parliament election, these deficits must urgently be addressed. Relevant Posts David M. Herszenhorn and Maïa de La Baume, (2019), «Europe’s big election mess», …Read More
Irina Andone and Beatrice Scheubel, (2019), “Once bitten: new evidence on the link between IMF conditionality and IMF stigma”, ECB Working Paper Series No 2262, April While the consequences and effectiveness of IMF conditionality have long been the focus of research, the possible negative impact of IMF conditionality on countries’ willingness to ask for an IMF programme – often termed ‘IMF stigma’ – has recently received attention particularly from policy …Read More
Eurostat/Hourly labour costs ranged from €5.4 to €43.5 across the EU Member States in 2018/11 April 2019 In 2018, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be €27.4 in the European Union (EU) and €30.6 in the euro area. However, the average masks significant gaps between EU Member States, with the lowest hourly labour costs recorded in Bulgaria (€5.4), Romania (€6.9), …Read More
