Schraad-Tischler, Daniel, (2015), “Key Findings: Social Justice in the EU – Index Report 2015-Social Inclusion Monitor Europe”, Bertelsmann Stiftung, October The Bertelsmann Stiftung conducts an annual study of developments in opportunities for social participation in all 28 EU member states. Despite economic recovery, the gap between young and old is growing and the social divide between northern and southern Europe remains immense. Relevant Posts Schraad-Tischler, D. & Krol, C. (2014) “Social Justice …Read More
The Great Financial Plumbing: From Northern Rock to Banking Union
Lannoo, Karel, (2015), “The Great Financial Plumbing: From Northern Rock to Banking Union”, CEPS Paperbacks, 19 October The financial and economic crises have led to an enormous plumbing exercise, involving a fundamental re-design of the global and European regulatory and supervisory system. This book systematically assesses the big items on the G-20 and EU agendas and the effectiveness with which they have been implemented in the EU. Its publication coincides with …Read More
Monetary Policy: Dispelling The Technocratic Illusion
Islam, Yanatul, Saraceno, Francesco, (2015), “Monetary Policy: Dispelling The Technocratic Illusion”, Social Europe, 26 October The past few weeks have seen the Fed struggle to define a clear exit route from its forward guidance strategy. Ambiguous macroeconomic data have triggered different interpretations by prestigious board members, leaving markets with little clue as to future Fed moves. Relevant Posts Rieth, Malte, Fratzscher, Marcel, (2015), “Bank bailouts, monetary policy, and credit default risks in the Eurozone”, …Read More
Library » EU » Economy » Opinion Articles
Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence
J. Blanchard, Olivier, David Ostry, Jonathan, R. Ghosh, Atish, Chamon, Marcos, (2015), ” Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence”, IMF Publications, Working Paper No. 15/226, 23 October The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising output, and the evidence appears to go their way. To reconcile …Read More
Library » EU » Economy » Scientific Articles
PostCapitalism: The Economy Of The Future?
Mason, Paul, (2015), “PostCapitalism: The Economy Of The Future?”, Social Europe Journal, 26 October Over the past two centuries or so, capitalism has undergone continual change – economic cycles that lurch from boom to bust – and has always emerged transformed and strengthened. Surveying this turbulent history, journalist and Channel 4 economics news editor Paul Mason wonders whether this time capitalism itself has reached its limits and is changing into …Read More
Renzi’s risky budget strategy
Bordignon, Massimo, (2015), “Renzi’s risky budget strategy “, Bruegel publications, 21 October The Italian government intends to postpone the fiscal adjustment decided last year in accordance with European authorities, and to increase instead the budget deficit in 2016 by about 0,8 GDP points, from an estimated 1,4% to 2,2% (or even to 2,4%, depending on whether the Commission will grant some extra budget flexibility to cope with the refugee crisis). …Read More
Library » EU » Economy » Politics » Policy Papers
Going to Extremes: Politics after Financial Crises, 1870-2014
Funke, Manuel, Schularick, Moritz, Trebesch, Christoph, (2015), “Going to Extremes: Politics after Financial Crises, 1870-2014”, Centre for Economic Policy Research, October Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in Europe provide ample evidence that the political aftershocks of financial crises can be severe. In this paper we study the political fall-out from systemic financial crises over the past 140 years. …Read More
Library » EU » Economy » Scientific Articles
Fixed exchange rates with escape clauses: The political determinants of the European Monetary System realignments
Bodea, Cristina, (2015), “Fixed exchange rates with escape clauses: The political determinants of the European Monetary System realignments”, European Journal of Political Economy, Volume 39, September This paper studies the political economy of realignments to fixed exchange rates and suggests that the use of realignments is less likely when there are political benefits from stable exchange rates and when linkages across other issue areas increase the costs of realignment. More …Read More
Library » EU » Economy » Politics » Scientific Articles
Avoiding Another Crisis in the Euro Area: Public and Private Imbalances and National Policy Responses
Kincaida, Russell, Watson, Max, (2015), “Avoiding Another Crisis in the Euro Area: Public and Private Imbalances and National Policy Responses”, Journal of European Integration, 1 September Early critics of the euro’s design pointed to the disruptive potential — both political and economic — of country-specific shocks in a monetary union that is a far cry from an optimal currency area. The euro crisis has confirmed the risks associated with a …Read More
Library » EU » Economy » Politics » Scientific Articles
Filling the gap: open economy considerations for more reliable potential output estimates
DARVAS, ZSOLT, SIMON, ANDRÁS, (2015), “Filling the gap: open economy considerations for more reliable potential output estimates”, Bruegel publications, 22 October This paper proposes a novel structural model to estimate the equilibrium level of output and reports results for 45 countries. The model is conceptually more appropriate than existing methods by incorporating open economy considerations, which are completely missing from the models of the European Commission, IMF and OECD. Relevant …Read More
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