Ireland’s Lessons for Greece

24 April, 2015

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Heise, Michael, (2015), “Ireland’s Lessons for Greece”, www.project-syndicate.org, 23 April. Greece’s government, led by the left-wing Syriza party, is demanding a new deal from its European creditors, claiming that the bailout program provided by the “troika” (the International Monetary Fund, the European Central Bank, and the European Commission) has plunged their country into a spiral of deflation and austerity. But, while no one disputes that things have gone wrong in …Read More

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Hall of Mirrors: The Great Depression, The Great Recession, and the Uses-and Misuses-of History

24 April, 2015

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Eichengreen, Barry, (2015), Hall of Mirrors: The Great Depression, The Great Recession, and the Uses-and Misuses-of History, Oxford University Press USA The two great financial crises of the past century are the Great Depression of the 1930s and the Great Recession, which began in 2008. Both occurred against the backdrop of sharp credit booms, dubious banking practices, and a fragile and unstable global financial system. When markets went into cardiac …Read More

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European Central Bank, Annual Report 2014

22 April, 2015

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European Central Bank, (2015), Annual Report 2014. From a monetary policy perspective, the environment in 2014 was complex. The muted recovery that had begun in 2013 did not accelerate as initially expected. Monetary growth remained subdued and credit continued to contract, albeit at a gradually slower pace. In a context of low domestic inflationary pressures, the considerable fall in oil prices from the middle of 2014 resulted in further significant falls …Read More

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Banking Stress Scenarios for Public Debt Projections

22 April, 2015

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Benczur P., Berti K., Cariboni J., Di Girolamo Fr. Er., Langedijk Sv., Pagano Andr., Giudici M., (2015), “Banking Stress Scenarios for Public Debt Projections”, European Commission. The euro area sovereign debt crisis brought to light the potential risks to public finances posed by the banking sector. This paper simulates the potential impact of bank defaults on public finances based on stress test scenarios using an advance analytical methodology. Relevant posts: …Read More

Library » EU » Economy » Reports

Creating a Common European Future: Integration of Young Migrants in Europe

21 April, 2015

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Creating a Common European Future: Integration of Young Migrants in Europe, A report investigating the practices of the European Integration Fund in four Member States, FutureLab Europe, April 2015. EXECUTIVE SUMMARY: The main purpose of this report is to assess the integration of migrants in the EU by investigating the practice of the European Integration Fund (EIF) in four EU member states: Finland, Germany, Romania, and Spain, virtually …Read More

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The role of trade credit financing in international trade

20 April, 2015

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Eck, K, Engemann, M. & Schnitzer, M. (2015) “The role of trade credit financing in international trade“, VoxEU Organisation, 20 April 2015. Credits extended bilaterally between firms, so called trade credits, are particularly expensive yet many firms use it, especially for international transactions. This column argues that such cash-in-advance financing serves as a credible signal of quality. Data from a unique survey of German firms show that it fosters …Read More

Library » EU » Economy » Scientific Articles

Antitrust, Regulation and the Neutrality Trap: A plea for a smart, evidence-based internet policy

17 April, 2015

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Renda, A. (2015) “Antitrust, Regulation and the Neutrality Trap: A plea for a smart, evidence-based internet policy, CEPS Special Report Νο. 104, 17 April. When they look at Internet policy, EU policymakers seem mesmerised, if not bewitched, by the word ‘neutrality’. Originally confined to the infrastructure layer, today the neutrality rhetoric is being expanded to multi-sided platforms such as search engines and more generally online intermediaries. Policies for search …Read More

Library » EU » Politics » Policy Papers

Three waves of convergence. Can Eurozone countries start growing together again?

17 April, 2015

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Buti, M. & Turrini, A. (2015) “Three waves of convergence. Can Eurozone countries start growing together again?“, VoxEU Organisation, 17 April. An oft expressed view is that the Eurozone is a straitjacket on periphery members and income convergence has slowed, halted or reversed. This column argues that EZ convergence never stopped. What changed was the type of convergence. Today’s convergence is neither nominal nor real, it is structural. Structural …Read More

Library » EU » Economy » Scientific Articles

Dynastic Inequality, Mobility and Equality of Opportunity

17 April, 2015

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Ravi Kanbur & Joseph E. Stiglitz (2015) “Dynastic Inequality, Mobility and Equality of Opportunity“, Centre for Economic Policy Research (CEPR), Discussion Paper No. 10542, April. One often heard counter to the concern on rising income and wealth inequality is that it is wrong to focus on inequality of outcomes in a “snapshot.” Intergenerational mobility and “equality of opportunity”, so the argument goes, is what matters for normative evaluation. In …Read More

Library » EU » Economy » Society » Scientific Articles

World Economic Outlook (WEO) Uneven Growth: Short- and Long-Term Factors

16 April, 2015

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World Economic Outlook (WEO) Uneven Growth: Short- and Long-Term Factors, International Monetary Fund: World Economic and Financial Surveys, 15 April 2015. Global growth remains moderate, with uneven prospects across the main countries and regions. It is projected to be 3.5 percent in 2015, in line with forecasts in the January 2015 World Economic Outlook (WEO) Update. Relative to last year, the outlook for advanced economies is improving, while growth …Read More

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