International Labour Organization (2014) “World Social Protection Report 2014/15, Building Economic Recovery, Inclusive Development & Social Justice“, International Labour Office Geneva, 03 June. This report was drafted by a team supervised by the Director of the ILO Social Protection Department, Isabel Ortiz, consisting of Krzysztof Hagemejer, formerly Chief of the Social Policy, Governance and Standards Branch; Anne Drouin, Chief ad interim of the Public Finance, Actuarial and Statistics Services …Read More
The European Council should not feel obliged to choose any of the leading candidates as President of the European Commission
Salamone, A. (2014) “The European Council should not feel obliged to choose any of the leading candidates as President of the European Commission“, LSE EUROPP, 02 June. This year’s European Parliament election has been noteworthy both for the rise of Euroscepticism and the introduction of leading candidates for European Commission president put forward by some of the European political parties. Anthony Salamone argues that the European Council should freely …Read More
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Is Piketty’s ‘Second Law of Capitalism’ fundamental?
Krusell, P. & Smith, T. (2014) “Is Piketty’s ‘Second Law of Capitalism’ fundamental?“, VoxEU Organisation, 01 June. Thomas Piketty’s new book has been widely praised for its empirical contribution, but his prediction of rising inequality rests on economic theory. This column argues that Piketty’s pessimistic forecast is based on an extreme – and unrealistic – assumption about households’ saving behaviour. According to standard theory, the wealth–income ratio would increase …Read More
Library » EU » Economy » Opinion Articles
Are banks too large?
Ratnovski, L., Laeven, L. & Tong, H. (2014) “Are banks too large?“, VoxEU Organisation, 31 May. Large banks have grown and become more involved in market-based activities since the late 1990s. This column presents evidence that large banks receive too-big-to-fail subsidies and create systemic risk, whereas economies of scale in banking are modest. Hence, some large banks may be ‘too large’ from a social perspective. Since the optimal bank …Read More
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Europe’s Nationalists on the March
Fischer, J. (2014) “Europe’s Nationalists on the March“, Project Syndicate, 31 May. BERLIN – Europe is made up of its nations, and has been for hundreds of years. That is what makes the continent’s unification such a difficult political task, even today. But nationalism is not Europe’s principle of construction; on the contrary, it has been, and remains, Europe’s principle of deconstruction. That is the main lesson to be …Read More
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The minimal rise in turnout in the EP elections shows that voter apathy is still the greatest threat to European democracy
Mc Donnell, D. (2014) “The minimal rise in turnout in the EP elections shows that voter apathy is still the greatest threat to European democracy“, LSE EUROPP, 31 May. One of the key criticisms of European Parliament elections is that they suffer from low turnout and therefore lack the capacity to genuinely confer democratic legitimacy on the EU’s legislative process. Duncan McDonnell writes that while a concerted effort was …Read More
Library » EU » Politics » Opinion Articles
The Great Backlash
Roubini, N. (2014) “The Great Backlash“, Project Syndicate, 31 May. NEW YORK – In the immediate aftermath of the 2008 global financial crisis, policymakers’ success in preventing the Great Recession from turning into Great Depression II held in check demands for protectionist and inward-looking measures. But now the backlash against globalization – and the freer movement of goods, services, capital, labor, and technology that came with it – has …Read More
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Exchange-rate flexibility and credit during capital inflow deversals: Purgatory… not paradise
Magud, N. & Vesperoni, R. E. (2014) Exchange-rate flexibility and credit during capital inflow deversals: Purgatory… not paradise, VoxEU Organisation, 30 May. Expansionary monetary policy in advanced economies have created capital inflow booms in emerging markets. This column analyses the effect of exchange rate flexibility on credit markets during capital inflow booms. In economies with less flexible exchange rate regimes, credit grows faster and more towards foreign currency. These …Read More
Library » EU » Economy » Scientific Articles
Europe’s Litmus Test
O’ Sullivan, M. & Panagiotarea, E. (2014) “Europe’s Litmus Test“, Project Syndicate, 30 May. DUBLIN – The European Parliament election is grabbing headlines worldwide, as it highlights a new skepticism in the European politics and raises concerns about the future of the integration project. But the real litmus test for the European Union is to be found elsewhere – in the health of its smaller economies, especially Greece and …Read More
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EU Voters Turn Against Austerity
Hudson, M. (2014) “EU Voters Turn Against Austerity“, Michael Hudson Blog, 29 May. Reflecting on this topic, I add: The US press and newscasts make it appear that Europeans have voted against poor immigrants and foreigners. What they voted against the super-rich, the oligarchy. The “foreigners” being opposed include the United States insisting on drawing NATO into its wars in Libya,Iraq, Syria and Afghanistan – and now, subsidizing Ukraine …Read More
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