Zestos, George, (2015), “The Global Financial Crisis”, International Political Economy Series, Routledge publications, 12 October Although banking and sovereign debt crises are not unusual, the crisis that has unfolded across the world since 2007 has been unique in both its scale and scope. It has also been unusual in being both triggered by, and mainly affecting, developed economies. Starting with the US subprime mortgage crisis, and the recession in 2007-2009, …Read More
The Eurozone: Looking For The Sovereign
Leron, Nicolas, Aglietta, Michel, (2015), “The Eurozone: Looking For The Sovereign”, Social Europe Journal, 11 September The Eurozone – because it remains an incomplete construct – has reached a critical point where its very existence is at stake. The Greek crisis and its never-ending drama, with the July 5 referendum, the “Grexit” strategy of some member states, the July 13 in extremis agreement and the vote in favour of a third aid …Read More
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Why the Fed targets 2% inflation
Economist, (2015), “Why the Fed targets 2% inflation”, The Economist explains, 13 September ON SEPTEMBER 17th the Federal Reserve will conclude a two-day, rate-setting meeting at which it just might raise its benchmark interest rate for the first time in more than nine years. Arguing in favour of a hike is the low unemployment rate, which fell to 5.1% in August. Arguing against it is the rate of inflation which, …Read More
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The European Union Illuminated-Its Nature, Importance and Future
El Agraa, Ali, (2015), “The European Union Illuminated-Its Nature, Importance and Future”, Economics Series, Palgrave-Macmillan publications, May 2015 The EU is under stress. Many believe in the euro’s demise because they blame it for the 2008 financial crisis and the unwelcome austerity measures. Many resent the immigrants from the new EU member states, threatening the survival of the Single European Market (SEM). Many complain of a ‘Brussels diktat’, seeking an escape …Read More
Transatlantic Politics and the Transformation of the International Monetary System
Frasher, Michelle, (2015), “Transatlantic Politics and the Transformation of the International Monetary System”, European Union Series, Routledge publications, 8 September With original archival documents and interviews from the US and Europe, Michelle Frasher brings the reader into the negotiating room with American, German, and French officials as they confronted the collapse of the Bretton Woods monetary system and made decisions that affected the course of European integration and the contemporary …Read More
Should Germany Leave the Euro?
Heise, Michael, (2015), “Should Germany Leave the Euro?”, Project Syndicate, 9 September The debate about whether Greece should leave the eurozone has revived the idea that Germany, and other similarly strong economies, would best serve the rest of the continent if they were the ones to exit the monetary union. But, though that notion may win some applause, implementing it would be shortsighted, impractical, and economically dubious. Relevant Posts Sachs, Jeffrey, …Read More
Library » EU » Politics » Opinion Articles
Cereals, appropriability, and hierarchy
Mayshar, Joram, Moav, Omer, Neeman, Zvika, Pascali, Luigi, (2015), “Cereals, appropriability, and hierarchy”, Voxeu, 11 September Conventional theory suggests that hierarchy and state institutions emerged due to increased productivity following the Neolithic transition to farming. This column argues that these social developments were a result of an increase in the ability of both robbers and the emergent elite to appropriate crops. Hierarchy and state institutions developed, therefore, only in regions where appropriable cereal crops had sufficient productivity advantage …Read More
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A Europe for the Many, Not the Few-Time to reverse the course of inequality and poverty in Europe
Oxfam International, (2015), “A Europe for the Many, Not the Few-Time to reverse the course of inequality and poverty in Europe”, 9 September Europe is facing unacceptable levels of poverty and inequality. Instead of putting people first, policy decision making is increasingly influenced by wealthy elites who bend the rules to their advantage, worsening poverty and economic inequality, while steadily and significantly eroding democratic institutions. Austerity measures and unfair tax …Read More
Economists vs. Economics
Rodrik, Dani, (2015), “Economists vs. Economics”, Project Syndicate, 10 September Ever since the late nineteenth century, when economics, increasingly embracing mathematics and statistics, developed scientific pretensions, its practitioners have been accused of a variety of sins. The charges – including hubris, neglect of social goals beyond incomes, excessive attention to formal techniques, and failure to predict major economic developments such as financial crises – have usually come from outsiders, or …Read More
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Domestic and multilateral effects of capital controls in emerging markets
Pasricha, Gurnain, Falagiarda, Matteo, Bijsterbosch, Martin, Aizenman, Joshua, (2015), “Domestic and multilateral effects of capital controls in emerging markets”, ECB Working Paper, No. 1844, August Using a novel dataset on changes in capital controls and currency-based prudential measures in 17 major emerging market economies (EMEs) over the period 2001-2011, this paper provides new evidence on domestic and multilateral (or spillover) effects of capital controls before and after the global financial crisis. Our results, based on panel VARs, suggest that capital …Read More
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