Cacciatore, Matteo, Duval, Romain, Fiori, Giuseppe, Ghironi,Fabio, (2016), “Market Reforms in the Time of Imbalance”, CEPR DP11247, April 2016 We study the consequences of product and labor market reforms in a two-country model with endogenous producer entry and labor market frictions. We focus on the role of business cycle conditions and external constraints at the time of reform implementation (or of a credible commitment to it) in shaping the dynamic effects of …Read More

Ari,Anil, (2016), ” Sovereign risk and bank risk-taking”, ECB Working Paper Series No 1894, April 2016 In European countries recently hit by a sovereign debt crisis, the share of domestic sovereign debt held by the national banking system has sharply increased, raising issues in their economic and Önancial resilience, as well as in policy design. This paper examines these issues by analyzing the banking equilibrium in a model with optimizing banks and depositors. …Read More

Micossi, Stefano, Bruzzone, Ginevra, Cassella,Miriam, (2016), “Fine-tuning the use of bail-in to promote a stronger EU financial system”, CEPS Special Report No. 136 / Απρίλιος 2016 This paper discusses the application of the new European rules for burden-sharing and bailin in the banking sector, in view of their ability to accommodate broader policy goals of aggregate financial stability. It finds that the Treaty principles and the new discipline of state aid and …Read More

Heinemann, Friedrich, Grigoriadis Theocharis, (2015), “Origins of Reform Resistance and the Southern European Regime”, ZEW Working Paper no 20, July2013 This analysis deals with reform obstacles in general and with the particular challenges of institutional change under the conditions of Southern Europe in particular. It presents a survey on the possible drivers of reform resistance. This includes very different qualities of approaches ranging from classical economics and politicaleconomic explanations to more innovative …Read More

Van der Zwet,  Arno, Bachtler, John, Miller, Stephen, Vernon, Phillip, Dozhdeva, Viktoriya, (2016), “Review of the Role of the EIB Group in European Cohesion Policy”, IP/B/REGI/IC/2015-019, March 2016 The aim of this study is to provide a comprehensive analysis and assessment of how the European Investment Bank contributes to the achievement of Cohesion Policy objectives. The study finds that the role of the European Investment Bank in Cohesion Policy increased significantly in the 2007-13 …Read More

Bova, Elva,  Tovar Jalles, João, Kolerus, Christina,(2016), “Shifting the Beveridge Curve : What Affects Labor Market Matching?“, IMF WP/16/9, April This paper explores conditions and policies that could affect the matching between labor demand and supply. We identify shifts in the Beveridge curves for 12 OECD countries between 2000Q1 and 2013Q4 using three complementary methodologies and analyze the short-run determinants of these shifts by means of limited-dependent variable models. We find that labor …Read More

Eichhorst, Werner, Marx, Paul, Wehner, Caroline,(2016), “Labor Market Reforms in Europe: Towards More Flexicure Labor Markets?”, IZA DP No. 9863, April Labor market segmentation refers to a salient divide between secure and insecure jobs and is related to problems in important areas, including macro‐economic efficiency, workers’ wellbeing and repercussions for social cohesion. European countries have started a new wave of labor market reforms in the aftermath of the 2008/09 crisis to tackle …Read More