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Only Germans Love the Euro These Days

17 February, 2017
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Paul, Jean-Michel, (2017), “Only Germans Love the Euro These Days”, BloombergView, 17 February Political support for the single currency has been waning — especially in Germany’s two largest euro-zone trading partners. In both France and Italy, there is now a plurality of support for candidates who advocate a withdrawal from the euro, with pro-euro candidates gathering less than 30 percent in polls. Relevant Posts Merler, Sylvia, (2017), “Is Germany a currency …Read More

Library » EU » Economy » Politics » Opinion Articles

Portugal needs stronger investment to maintain growth and improve living standards

16 February, 2017
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Arnold, Jens, (2017),“Portugal needs stronger investment to maintain growth and improve living standards”, Portugal Desk, OECD Economics Department, 6 February Since 2012, investment has hardly exceeded the depreciation of the existing capital stock, meaning that growth of the productive capital stock has almost stalled. This is one reason behind the low potential growth of the Portuguese economy, which the OECD currently puts below 0.5%. Without stronger investment, growth performance is bound to …Read More

Library » EU » Economy » Policy Papers

The Financial Education of the Eurozone

15 February, 2017
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Smart, Christopher ,(2017), “The Financial Education of the Eurozone”, Project- Syndicate, 14 February Europe’s banks have long been central to the continent’s economy. In France and Germany, bank assets amount to 350-400% of GDP, whereas in the United States, they are equal to just over 100% of GDP. After the 2008 financial crisis, the eurozone’s weakest banks quickly buckled under the weight of their bad loans, and then threatened to …Read More

Library » EU » Economy » Opinion Articles

High frequency trading and fragility

13 February, 2017
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Cespa, Giovanni, Vives, Xavier, (2017), “High frequency trading and fragility”, ECB Working Paper Series No 2020, February We show that limited dealer participation in the market, coupled with an informational friction resulting from high frequency trading, can induce demand for liquidity to be upward sloping and strategic complementarities in traders’ liquidity consumption decisions: traders demand more liquidity when the market becomes less liquid, which in turn makes the market more illiquid, fostering …Read More

Library » EU » Economy » Reports

The impact of constrained monetary policy on the fiscal multipliers on output and inflation

13 February, 2017
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Bletzinger, Tilman, Lalik, Magdlena, (2017), “The impact of constrained monetary policy on the fiscal multipliers on output and inflation”, ECB Working Paper Series No 2019, February As a consequence of rising debt-to-GDP ratios in several euro area member states, the euro area as a whole is going through a period of significant fiscal consolidation. At the same time it observes a prolonged period of low inflation combined with a binding zero lower …Read More

Library » EU » Economy » Reports

Feasibility and Added Value of a European Unemployment Benefits Scheme

13 February, 2017
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Beblavy, Miroslav, (2017), “Feasibility and Added Value of a European Unemployment Benefits Scheme”, CEPS, 10 February This CEPS e-Book presents the final report of a comprehensive project on the Feasibility and Added Value of a European Unemployment Benefits Scheme, initiated by the European Parliament and commissioned by the European Commission, Directorate-General for Employment, Social Affairs and Inclusion. The aim of the study is to assess the legal and operational feasibility of …Read More

Library » EU » Economy » Reports

Interactions between fiscal multipliers and sovereign risk premium during fiscal consolidation: model based assessment for the euro area

10 February, 2017
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Lalik, Magdalena, (2017), “Interactions between fiscal multipliers and sovereign risk premium during fiscal consolidation: model based assessment for the euro area”, ECB Working Paper Series No 2016, February The paper presents a model-based assessment of fiscal multipliers operating in the euro area during the period 2011-2014. The assessment is conditional on two distinct reactions of the sovereign risk premium (either responding endogenously to fiscal shocks or being an exogenous process) and …Read More

Library » EU » Economy » Reports

The Rise Of The “Super Firms” And Inequality

9 February, 2017
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Janssen, Ronald, (2017, “The Rise Of The “Super Firms” And Inequality”, Social Europe, 9 February Mainstream economic thinking often tries to explain the trend of high and rising inequalities by referring to the forces of technology. Technological progress, so the argument goes, works to destroy middle pay routine jobs while at the same time creating many high skilled jobs. There is, however, increasing recognition that this ‘technology’ factor is but part …Read More

Library » EU » Economy » Opinion Articles

The losers from credit crunches

9 February, 2017
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Berton, Fabio , Mocetti, Sauro , Presbitero, Andrea , Richiardi, Matteo , (2017), “The losers from credit crunches”, VoxEu, 9 February In the aftermath of the Global Crisis, a severe credit crunch has had long-lasting consequences for a number of economies. Trade has collapsed (Paravisini et al 2011), investment expenditure has shrunk significantly (Cingano et al. 2016), and unemployment rates have increased markedly (e.g. Clements et al. 2012). These developments …Read More

Library » EU » Economy » Policy Papers

Unequal opportunities, unequal growth

8 February, 2017
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Marrero, Gustavo A., Rodriguez, Juan Gabriel, Van der Weide, Roy, (2017), “Unequal opportunities, unequal growth”, VoxEu, 8 February Inequality can be both good and bad for growth. Unequal societies may be holding back one segment of the population while helping another. This column exploits US data to argue that inequality affects negatively the future income growth of the poor and positively that of the rich. This relationship is largely driven by …Read More

Library » EU » Economy » Opinion Articles