Ryan, John, (2016), “The European Central Bank: A Central Bank Operating In A Democratic Void”, Social Europe, 24 June The ECB is far more independent than the Federal Reserve, whose legal status is far weaker and which is directly accountable to Congress and the government. The ECB was supposed to be like the German central bank, the Bundesbank. It has, however, failed to emulate the distinctive attributes that made the Bundesbank …Read More

Huidrom, Raju, Kose, Ayhan, Lim, Jamus, Ohnsorge, Franziska, (2016), “Do Fiscal Multipliers Depend on Fiscal Positions?”, Centre for Economic Policy Research, June This paper analyzes the relationship between fiscal multipliers and fiscal positions of governments using an Interactive Panel Vector Auto Regression model and a large dataset of advanced and developing economies. Our methodology permits us to trace the endogenous relationship between fiscal multipliers and fiscal positions while maintaining enough degrees of freedom to …Read More

Batsaikhan, Uuriintuya, (2016), “The day after Brexit: what do we know?”, Bruegel, 22 June Article 50 of the Treaty of the European Union (December 2009) sets out the procedural requirements for a member state to terminate its membership. Legal withdrawal would mean that EU Treaties and their Protocols would no longer apply, and EU financial programmes would be phased out. If the UK votes to leave the EU on Thursday, the result …Read More

Robert Skidelsky, (2016), “Basic Income Revisited”, Project Syndicate, 23 June Britain isn’t the only country holding a referendum this month. On June 5, Swiss voters overwhelmingly rejected, by 77% to 23%, the proposition that every citizen should be guaranteed an unconditional basic income (UBI). But that lopsided outcome doesn’t mean the issue is going away anytime soon. Relevant Posts Guio, Anne-Catherine, Marlier, Eric, Gordon, David, Fahmy, Eldin, Nandy, Shailen, Pomati, …Read More