Bossone, Biagio, Cattaneo, Marco, (2016), “‘Helicopter tax credits’ to accelerate economic recovery in Italy (and other Eurozone countries)”, Voxeu, 4 January The latest report of Italy’s leading investment bank, Mediobanca, presents a thorough analysis of the country’s recent economic developments. Relevant Posts Lorenzani, Dimitri, Reitano, Vito Ernesto, (2015), “Italy’s Spending Maze Runner – An analysis of the structure and evolution of public expenditure in Italy”, Discussion Paper No. 23, European Commission publications, December Berger, Bennet, (2015), …Read More
The Great Malaise Continues
Stiglitz, Joseph, (2016), “The Great Malaise Continues”, Project Syndicate, 3 January The year 2015 was a hard one all around. Brazil fell into recession. China’s economy experienced its first serious bumps after almost four decades of breakneck growth. The eurozone managed to avoid a meltdown over Greece, but its near-stagnation has continued, contributing to what surely will be viewed as a lost decade. Relevant Posts Dixon, H. (2014) “A New …Read More
Progress towards meeting the economic criteria for EU accession: the EU Commission’s 2015 assessments
European Commission, (2015), “Progress towards meeting the economic criteria for EU accession: the EU Commission’s 2015 assessments”, Institutional Papers 015, December A compilation of the economic chapters of the European Commission’s 2015 Country Reports on countries looking to join the EU. Relevant Posts Forgó, Balázs, Jevčák, Anton, (2015), “Economic Convergence of Central and Eastern European EU Member States over the Last Decade (2004-2014)”, European Commission publications, Discussion Paper 001, JULY 2015 Gross, Marco, Poblacion, …Read More
Colonialism and Foreign Ownership of Capital
Hazari, Bharat, (2015), “Colonialism and Foreign Ownership of Capital”, Routledge publications, January 2016 Foreign control of capital is a major problem for many developing countries and can lead to the exercise of a form of colonial control whereby capital is provided for political rather than economic reasons. This book discusses the implications of this phenomenon for trade theory and the amount of pressure that foreign countries can exert. Relevant Posts J. …Read More
Report on Public Finances in EMU 2015
European Commission, (2015), “Report on Public Finances in EMU 2015”, Institutional Paper 14, December The European Commission’s annual Report on Public Finances in the EMU provides an overview of key policy developments and analytical findings in this area. The report describes recent development with deficits and debt, underlining the need to achieve a balance between short-term stability and long-term sustainability of public finances. The focus this year is the challenge …Read More
Stabilisation and rebalancing with fiscal or monetary devaluation: a model-based comparison
Vogel, Lukas, (2015), “Stabilisation and rebalancing with fiscal or monetary devaluation: a model-based comparison”, Discussion Paper No. 22, European Commission publications, December This paper takes a theoretical look at the extent to which fiscal devaluation policies, such as shifting the tax burden from labour to consumption, can achieve the same benefits as nominal exchange rate depreciation. Relevant Posts Delbecque, B., (2013), “Proposal for a Stabilisation Fund for the EMU”, Centre for …Read More
Italy’s Spending Maze Runner – An analysis of the structure and evolution of public expenditure in Italy
Lorenzani, Dimitri, Reitano, Vito Ernesto, (2015), “Italy’s Spending Maze Runner – An analysis of the structure and evolution of public expenditure in Italy”, Discussion Paper No. 23, European Commission publications, December This paper explores the composition and developments of public expenditure in Italy and compares them with other big Member States. On the basis of this analysis, it draws several possible policy implications. Based on the latest available data by economic classification and …Read More
Euro area sees employment rebound
European Central Bank, (2015), “Euro area sees employment rebound”, Economic Bulletin, 14 December Euro area headcount employment has increased by over 2.2 million since the post-crisis low in the middle of 2013. This article investigates the sources and characteristics of this rebound, finding that it is heavily concentrated in some of the worst-hit labour markets, to a considerable extent in low productivity sectors. Relevant Posts ECB (2015) Update on Economic …Read More
Deutsche Bank Leads a Retreat From Markets
Gilbert, Mark, (2015), “Deutsche Bank Leads a Retreat From Markets”, Bloomberg View, 23 December For five consecutive years, the end of December has seen Deutsche Bank atop the annual league tables as the bank that handled the most European bond sales. Not this year.With recently installed Co-Chief Executive Officer John Cryan pledging to shrink its investment banking activities, Deutsche Bank is set to slip to third place, behind HSBC and Barclays. …Read More
Financial Crises: Causes, Consequences, and Policy Responses
Claessens, Stijn, Kose, Ayhan, Laeven, Luc, Valencia, Fabian, (2014), “Financial Crises: Causes, Consequences, and Policy Responses”, IMF Bookstore,February 2014 Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned. The book covers a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on …Read More