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European champion-ships: industrial champions and competition policy

Heim, Mathew, Midoes, Catarina, (2019), “European champion-ships: industrial champions and competition policy“, Bruegel.org, July This blog post investigates the debate on whether European competition rules should foster European industrial champions, or allow national champions to grow to a European scale. It explores the criteria that one would intuitively ascribe to industrial champions, illustrating the difficulties in defining either ‘European’ or ‘Champion’. It then conducts a brief look into whether EU …Read More

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The waking giant goes back to sleep: European integration in the Greek elections

Verney, Susannah, (2019)”The waking giant goes back to sleep: European integration in the Greek elections“, Blogs Lse, July The prospect of Greece leaving the eurozone once dominated the country’s political agenda. Yet as Susannah Verney writes, in the 2019 Greek elections, relations with the EU were simply not an issue. She argues this quick change in the political climate demonstrates that unlike in the UK, Greek citizens were not motivated by a …Read More

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Productivity and competitiveness in the euro area: A view from France

Blanchard, Olivier et. al., (2019)”Productivity and competitiveness in the euro area: A view from France“, Vox CEPR Policy Portal, July In September 2016, the European Council invited all euro area members to set up a National Productivity Board to focus on productivity and competitiveness. This column summarises the main findings of the first report of the Conseil National de Productivité, which analyses the causes of the French productivity slowdown that are …Read More

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Monetary policy and bank equity values in a time of low and negative interest rates

Ampudia, Miguel, Van den Heuvel Skander, (2019), “Monetary policy and bank equity values in a time of low and negative interest rates“, Vox CEPR Policy Portal, July The effects of interest rate surprises on banks are different when nominal interest rates are very low. This column reveals how, in ‘normal’ times, policy rate announcements that are below market expectations tend to boost banks’ stock prices on average. When interest rates are very …Read More

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Greek elections: The view from across Europe

Brown, Stuart, (2019), “Greek elections: The view from across Europe“, July Greece held legislative elections on 7 July. The preliminary results indicated New Democracy had won a majority of seats, with Syriza in second place. El País describes the result as the “end of a cycle” for Greece, with the four years of Syriza in government coming to an end and the mainstream centre-right winning a majority “worthy of another era”. The Financial …Read More

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Greek elections: The view from across Europe

Brown, Stuart, (2019), “Greek elections: The view from across Europe“, Blogs.Lse , July Greece held legislative elections on 7 July. The preliminary results indicated New Democracy had won a majority of seats, with Syriza in second place. El País describes the result as the “end of a cycle” for Greece, with the four years of Syriza in government coming to an end and the mainstream centre-right winning a majority “worthy of another …Read More

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Preparing for uncertainty

Papadia, Fransesco, (2019), “Preparing for uncertainty“, Bruegel.org, July Monetary policy must reinvent itself in the wake of the crisis. Reinvention is particularly important because the system is riddled with uncertainties and the scope for applying both conventional and unconventional instruments is limited. The architecture of Economic and Monetary Union makes the challenge even greater because alignment of preferences and policies can only go so far. Σχετικές Αναρτήσεις Kontogeorgos et all, …Read More

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Financial crises and the dynamics of financial de-liberalisation

Blogs.lse,  (2019), “Financial crises and the dynamics of financial de-liberalisation”, June Financial crises play a key role in changing existing policies concerning financial markets and institutions. Orkun Saka, Nauro Campos, Paul De Grauwe, Yuemei Ji and Angelo Martelli provide new evidence for the negative impact of financial crises on the process of financial liberalisation. They also show that such interventions are only temporary and that the liberalisation process restarts quickly after a financial crisis. These results support …Read More

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Uncertainty over output gap and structural-balance estimates remains elevated

Darvas, Zsolt, (2019), “Uncertainty over output gap and structural-balance estimates remains elevated“, Bruegel.org, June The EU fiscal framework strongly relies on the structural budget balance indicator, which aims to measure the ‘underlying’ position of the budget. But this indicator is not observed, only estimations can be made. This post shows that estimates of the European Commission, the IMF, the OECD and national governments widely differ from each other and all …Read More

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GNI-per-head rankings: The sad stories of Greece and Italy

Papadia, Francesco, (2019),”GNI-per-head rankings: The sad stories of Greece and Italy“, Bruegel.org , June No other country lost as many positions as Greece and Italy in the rankings of European countries by Gross National Income per head, between 1990 and 2017. The tentative conclusion here is that more complex, country-specific stories – beyond the euro, or the specific euro-area fiscal rules – are needed to explain these individual performances. Σχετικές …Read More

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