Ruparel, Raoul, (2015), ” ECB roils markets with disappointing stimulus package”, Open Europe blog, 4 December Markets across Europe were down sharply yesterday after the ECB significantly disappointed expectations in terms of further easing. As the dust settle many will rightly be wondering why exactly market expectations became so dislocated from actual ECB thinking and what this means for the longer term. Open Europe’s Raoul Ruparel, who warned the ECB could …Read More

Buti, Marco, Gaspar, Vitor, (2015), “Designing fiscal policy for steady, enduring growth”, Voxeu, 10 December Designing fiscal policy for today’s complex and uncertain economic climate is a problem that perplexes governments worldwide. This column proposes a solution – a new fiscal architecture with strengthened but budget-neutral automatic stabilisers. It won’t be easy, but overcoming predominantly political challenges will help foster steady and enduring growth. Relevant Posts Rannenberg, Ansgar, Schoder, Christian, Strasky, Jan, (2015), “The macroeconomic effects …Read More

Frankel, Jeffrey, (2015), “International macroeconomic policy coordination”, Voxeu, 9 December. Calls for coordination of macroeconomic policy have made a comeback since the Global Crisis. This column reviews this return of international policy coordination, both in terms of fiscal and monetary policy. It discusses recent developments and considerations in fiscal and monetary policy games, and cautions that most but not all calls for coordination are useful. Relevant Posts Goodhart, Α.Ε. C. & Erfurth, …Read More