Macro diversification through trade

14 October, 2015

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Caselli, Francesco, Koren, Miklós, Lisicky, Milan, Tenreyro, Silvana, (2015), “Macro diversification through trade”, Voxeu, 14 October A widely held view in academic and policy circles is that openness to international trade and specialisation leads to higher GDP volatility. This column argues that openness to international trade can also lower a country’s GDP volatility by allowing it to diversify its sources of demand and supply, and hence reduce its exposure to …Read More

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Beyond Mainstream Explanations of the Financial Crisis

14 October, 2015

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Hossein-zadeh, Ismael, (2014), “Beyond Mainstream Explanations of the Financial Crisis”, International Political Economy Series, Routledge publications, 15 April The study argues that while the prevailing views of deregulation and financialization as instrumental culprits in the explosion and implosion of the financial bubble are not false, they fail to point out that financialization is essentially an indication of an advanced stage of capitalist development. These standard explanations tend to ignore the …Read More

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Germany and the Euro-Zone Crisis: The European Reformation of the German Banking Crisis and the Future of the Euro

14 October, 2015

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Thompson, Helen, (2015), “Germany and the Euro-Zone Crisis: The European Reformation of the German Banking Crisis and the Future of the Euro”, New Political Economy, Issue 6, Volume 20, May Analysis of the German response to the euro crisis has been framed around a narrative of the relationship between domestic sacrifice and hegemony and sustains an assumption that the German commitment to the euro is proven. Such analysis downplays the importance …Read More

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Weak States, Poor Countries

13 October, 2015

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Deaton, Angus, (2015), “Weak States, Poor Countries”, Social Europe Journal, 13 October In Scotland, I was brought up to think of policemen as allies and to ask one for help when I needed it. Imagine my surprise when, as a 19-year-old on my first visit to the United States, I was met by a stream of obscenities from a New York City cop who was directing traffic in Times Square …Read More

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The Microeconomic Dimensions of the Eurozone Crisis and Why European Politics Cannot Solve Them

13 October, 2015

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Thimann, Christian, (2015), “The Microeconomic Dimensions of the Eurozone Crisis and Why European Politics Cannot Solve Them”, Journal of Economic Perspectives, Issue 3, Volume 29, summer The academic and policy debate about the crisis in Europe’s single currency area is usually dominated by macroeconomic and public sector considerations. The microeconomic dimensions of the crisis and the private sector issues typically get much less attention. However, it is the private sector …Read More

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Growing Government Debt Will Test Euro-Zone Solidarity

12 October, 2015

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Michel-Paul, Jean, (2015), ” Growing Government Debt Will Test Euro-Zone Solidarity”, Bloomberg View, 12 October The German chancellor and the French president stood side by side last Wednesday to address the European Parliament. But beneath that show of solidarity lies a story of two diverging economies at the heart of the euro zone. Relevant Posts Greece: On the Gredge, A Greek exit from the euro may soon become inevitable, The Economist, 25 April 2015. Varoufakis, …Read More

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Dealing with Losers-The Political Economy of Policy Transitions

12 October, 2015

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Trebilcock, Michael, (2015), “Dealing with Losers-The Political Economy of Policy Transitions”, Politics Series, Oxford University Press, 8 October Whenever governments change policies—tax, expenditure, or regulatory policies, among others—there will typically be losers: people or groups who relied upon and invested in physical, financial, or human capital predicated on, or even deliberately induced by the pre-reform set of policies. The issue of whether and when to mitigate the costs associated with …Read More

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The Mirage Of Structural Reform

12 October, 2015

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Rodrik, Dani, (2015), “The Mirage Of Structural Reform”, Social Europe Journal, 12 October Every economic program imposed on Greece by its creditors since the financial crisis struck in 2009 has been held together by a central conceit: that structural reforms, conceived boldly and implemented without slippage, would bring about rapid economic recovery. The European Commission, the European Central Bank, and the International Monetary Fund anticipated that fiscal austerity would be …Read More

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What options for European deposit insurance?

12 October, 2015

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Schoenmaker, Dirk, Wolff, Guntram, (2015), “What options for European deposit insurance?”, Bruegel publications, 8 October The aim of this blog post is to clarify different options of how to organize European deposit insurance without yet settling on the best option. We aim to explain and to highlight what different options can and cannot achieve. We end by drawing some tentative conclusions on potentially adequate quid-pro-quo measures for different forms of …Read More

Library » EU » Economy » Policy Papers

Capitalisms and Capitalism in the Twenty-First Century

9 October, 2015

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Morgan, Glenn, Whitley, Richard (Ed.), (2012), “Capitalisms and Capitalism in the Twenty-First Century”, International Political Economy Series, Oxford University Press, 26 April The early twenty-first century is witnessing both an increasing internationalization of many markets, firms, and regulatory institutions, and a reinforcement of the key role of nation states in managing economic development, financial crises, and market upheavals in many OECD and developing economies. Drawing on a variety of interdisciplinary perspectives from …Read More

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