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The political economy of financial crisis policy

10 July, 2015
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Terzi, Alesio, O’ Keeffe, Michael, (2015), “The political economy of financial crisis policy”, Bruegel publications, 8 July Government intervention to stabilise financial systems in times of banking crises ultimately involves political decisions. This paper sheds light on how certain political variables influence policy choices during banking crises and hence have an impact on fiscal outlays. We employ cross-country econometric evidence from all crisis episodes in the period 1970-2011 to examine …Read More

Library » EU » Economy » Politics » Scientific Articles

Euro area governance: an assessment of the “five presidents” report

26 June, 2015
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Wolff, Guntram, (2015), “Euro area governance: an assessment of the “five presidents” report”, Bruegel publications, 25 June European Commission President Juncker has published the long-awaited report prepared in collaboration with the presidents of the European Council, the Eurogroup, the European Central Bank and the European Parliament. The aim of the report is to prepare a roadmap for the completion of EMU, which is “not an end in itself” but a …Read More

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Causes and Consequences of Income Inequality : A Global Perspective

16 June, 2015
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Dabla-Norris, Era, Kochhar, Kalpana, Suphaphiphat, Nujin, Ricka, Frantisek, Tsounta, Evridiki, (2015), “Causes and Consequences of Income Inequality : A Global Perspective”, IMF Publications, 15 June This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. …Read More

Library » EU » Economy » Society » Reports

Don’t Blame the Euro: Historical Reflections on the Roots of the Eurozone Crisis

12 June, 2015
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Mourlon-Druol, E., (2014), “Don’t Blame the Euro: Historical Reflections on the Roots of the Eurozone Crisis”, West European Politics, Vol. 37, Issue 6, pp. 1282-1296. The article argues that many of the issues that are causing trouble in the eurozone today had long been debated, but not solved, prior to the beginning of the so-called euro crisis. Three thematic examples are used to show this: the decade-long discussion surrounding economic …Read More

Library » EU » Economy » Politics »

The Economy Strikes Back: Support for the Eu during the Great Recession

11 June, 2015
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Gomez, R., (2015), “The Economy Strikes Back: Support for the Eu during the Great Recession”, Journal of Common Market Studies, Vol.53, Issue 3, pp. 577-592. This article looks at the role of economic conditions in shaping people’s attitudes to the EU during the Great Recession. In contrast with previous research, findings suggest that in this particular instance support for the EU across Member States was affected by economic factors. In …Read More

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The Euro Crisis’ Theory Effect: Northern Saints, Southern Sinners, and the Demise of the Eurobond

11 June, 2015
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Matthijs, M. & McNamara K., (2015), “The Euro Crisis’ Theory Effect: Northern Saints, Southern Sinners, and the Demise of the Eurobond”, Journal of European Integration, Vol. 37, Issue 2, pp. 229-245. Of the multiple narratives EU policymakers could have chosen at the onset of the euro crisis, why did austerity and structural reform win out over other plausible cures for member states’ problems? Arguably, sovereign debt pooling or more federalized …Read More

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Germany and the Eurozone Crisis: Between Hegemony and Domestic Politics

10 June, 2015
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Βulmer, S., (2014), “Germany and the Eurozone Crisis: Between Hegemony and Domestic Politics”, West European Politics, Vol. 37, Issue 6, pp. 1244-1263. This paper explores Germany’s centrality to the outcome of the eurozone crisis. It argues that the eurozone crisis has led Germany’s ordo-liberal principles to trump its other longstanding commitment – i.e. to European integration. These two principles are explored in order then to shed light on how they …Read More

Library » EU » Economy » Scientific Articles

The QE Placebo

10 June, 2015
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Gros, D., (2015), “The QE Placebo”, Project Syndicate, 9 June. It has now been nearly half a year since the European Central Bank declared its intention to buy some €1.1 trillion ($1.3 trillion) worth of eurozone bonds. When it first announced the so-called “extended asset-purchase program” in January, the ECB emphasized that it was only expanding an existing program, under which it had been buying modest quantities of private-sector bonds, …Read More

Library » EU » Economy » Opinion Articles

Varieties of Capitalism and the Euro Crisis

10 June, 2015
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Hall, P. (2014), “Varieties of Capitalism and the Euro Crisis”, West European Politics, Vol. 37, Issue 6, pp. 1223-1243. This article examines the role played by varieties of capitalism in the euro crisis, considering the origins of the crisis, its progression, and the response to it. Deficiencies in the institutional arrangements governing the single currency are linked to economic doctrines of the 1990s. The roots of the crisis are linked …Read More

Library » EU » Economy » Politics » Scientific Articles

Deficits, Democracy and Demographics: Europe’s Three Crises

9 June, 2015
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Hansen, R. & Gordon, J. C., (2014), “Deficits, Democracy and Demographics: Europe’s Three Crises”, West European Politics, Vol. 37, Issue 6, pp. 1199-1222. This article argues that the EU and, above all, the eurozone are facing not one crisis – an economic and fiscal one – but three: an economic crisis, a crisis of institutions, and a crisis of demography. These crises are not simultaneous; they are overlapping and self-reinforcing, …Read More

Library » EU » Society » Scientific Articles