Ha-Joon Chang (2015) “What does it really mean to be ‘pro-business’?“, The Guardian, 03 March. Despite the best efforts of some of its members to discredit it with market rigging, tax avoidance, and unjustified bonuses, the business community is still held in awe in Britain. Any suggestion of higher taxes for top earners or tougher regulations on the abuse of market power is howled down as dangerously anti-business. Politicians …Read More
Jakab, Ζ., Lukyantsau, Ρ. & Wang, S. (2015) “A Global Projection Model for Euro Area Large Economies“, IMF Publications, Working Paper No. 15/50 The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. This paper creates a special version of GPM that includes the four largest Euro Area (EA) countries. The EA countries are more vulnerable to domestic and external demand shocks because …Read More
De Groen, P. W. (2015) “Corporate Taxation in Europe: Let’s get it together!“, Financial Markets, CEPS Commentaries, 16 February More comprehensive cooperation in corporate taxation at European level could significantly advance the region’s socio-economic prosperity, but its potential contribution is unfortunately overlooked in the current search for growth and job creation. Lucrative tax niches established in some member states and the fear of losing fiscal autonomy prevent several countries from …Read More
Auerbach, J. A. & Hassett, K. (2015) “Capital taxation in the 21st century“, VoxEU Organisation, 03 March. Piketty’s justification for his proposed wealth tax relies on the notion that the rate of return on capital exceeds economic growth. This column challenges this basis, arguing that it fails to account for risk. The authors also examine the relative merits of a consumption tax, which may be more valid. In Capital …Read More
Rodríguez-Pose, Α., Psycharis, Υ. & Tselios, V. (2015) “Politics and investment: Examining the territorial allocation of public investment in Greece“, VoxEU Organisation, 03 March. Electoral results and the geographical allocation of public investment in Greece have been intimately related. This column describes how incumbent Greek governments between 1975 and 2009 tended to reward those constituencies returning them to office. Increases in both the absolute and relative electoral returns for …Read More
Danielsson, J. (2015) “Post-Crisis banking regulation: Evolution of economic thinking as it happened on Vox“, VoxEU Organisation, 02 March. This column introduces a new Vox eBook collecting some of the best Vox columns on financial regulations, starting with the fundamentals of financial regulations, moving on to bank capital and the Basel regulations, and finishing with the wider considerations of the regulatory agenda and the political dimension. Collecting columns from …Read More
Wyplosz, C. (2015) “ECB minutes: What they really tell us”, VoxEU Organisation, 02 March. The ECB has finally begun releasing the minutes of its policymaking meetings, something the world’s major central banks have been doing since the 1990s. This column asks whether the publication of these minutes increases ECB transparency. While providing useful information on analysis at the ECB, the minutes lack the details on the actual discussions and …Read More
Murkens, J. (2015) “A referendum on Britain’s EU membership is a sure fire way to encourage the breakup of the UK“, LSE EUROPP, 02 March. David Cameron has pledged to hold a referendum on the UK’s EU membership if his Conservative party wins a majority at the British general election in May. Jo Murkens writes on the impact an EU referendum would have on the UK’s place in Europe …Read More
Cottarelli, C. (2015) “Potential growth rates and the working of SGP fiscal rules“, VoxEU Organisation, 02 March. The European Commission has clarified the flexibility in existing Eurozone fiscal rules. This column argues that the emphasis on structural rather than headline deficits is desirable but requires identification of potential growth rates. The way the Commission currently estimates potential output yields potential growth estimates that are very low. Thus, a year …Read More
Mitchell, B. (2015) “Germany is not a model for Europe – it fails abroad and at home“, Billy Mitchell Blog: Modern Monetary Theory … macroeconomic reality, 02 March. Some time ago I wrote a blog – The German model is not workable for the Eurozone (February 3, 2012) where I outlined why Germany’s export-led growth strategy could not be a viable model for the rest of the Eurozone nations. …Read More
