Renzi’s risky budget strategy

26 October, 2015

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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

26 October, 2015

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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

23 October, 2015

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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

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Avoiding Another Crisis in the Euro Area: Public and Private Imbalances and National Policy Responses

23 October, 2015

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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

22 October, 2015

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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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Redefining the Market-State Relationship-Responses to the Financial Crisis and the Future of Regulation

22 October, 2015

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Glinavos, Ioannis, (2013), “Redefining the Market-State Relationship-Responses to the Financial Crisis and the Future of Regulation”, Routledge publications, Routledge Research in Finance and Banking Law series, September This book offers an interdisciplinary overview of the role of law in modern capitalism in the context of financial crisis. In this work, the reader will find a discussion of key issues relevant to the crisis that have occupied the pages of the financial press since …Read More

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How European integration influences the way we think about redistribution of income

22 October, 2015

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Costa-Font, Joan, Cowell, Frank, (2015), “How European integration influences the way we think about redistribution of income”, LSE blog, 22 October What makes us more (or less) inclined to redistribute resources? Drawing on findings from a recent study, Joan Costa-Font and Frank Cowell write that European integration has a role in lessening national pride and is conducive to a more positive attitude toward income redistribution. They argue that when individuals identify themselves with …Read More

Library » EU » Economy » Society » Opinion Articles

Inflation expectations and global risks: the need for ECB action

22 October, 2015

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Wolff B., Guntram, (2015), “Inflation expectations and global risks: the need for ECB action”, Bruegel, 21 October The ECB will have its next monetary decision meeting on Thursday. Instead of following politically motivated statements that complain about low nominal rates, the ECB needs to focus on its mandate: price stability, defined as inflation rates close to but below 2% in the medium-run. So what do data on inflation dynamics and on …Read More

Library » EU » Economy » Policy Papers

Union power and inequality

22 October, 2015

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Jaumotte, Florence, Osorio Buitron, Carolina, (2015), “Union power and inequality”, VoxEU, 22 October Inequality in advanced economies has risen considerably since the 1980s, largely driven by the increase of top earners’ income shares. This column revisits the drivers of inequality, emphasising the role played by changes in labour market institutions. It argues that the decline in union density has been strongly associated with the rise of top income inequality and discusses the …Read More

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Free movement of labour in Europe: a solution for better labour allocation?

21 October, 2015

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Galgóczi, Béla, Leschke, Janine, (2015), “Free movement of labour in Europe: a solution for better labour allocation?”, European Trade Union Institute, June The European Commission has time and again promoted intra-EU labour mobility as a major contributor to the better functioning of European labour markets. On the other hand, concerns about increasing labour mobility are mounting in a number of member states and populist parties are trying to capitalise on …Read More

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