Beblavy, Miroslav, (2017), “Feasibility and Added Value of a European Unemployment Benefits Scheme”, CEPS, 10 February This CEPS e-Book presents the final report of a comprehensive project on the Feasibility and Added Value of a European Unemployment Benefits Scheme, initiated by the European Parliament and commissioned by the European Commission, Directorate-General for Employment, Social Affairs and Inclusion. The aim of the study is to assess the legal and operational feasibility of …Read More
Interactions between fiscal multipliers and sovereign risk premium during fiscal consolidation: model based assessment for the euro area
Lalik, Magdalena, (2017), “Interactions between fiscal multipliers and sovereign risk premium during fiscal consolidation: model based assessment for the euro area”, ECB Working Paper Series No 2016, February The paper presents a model-based assessment of fiscal multipliers operating in the euro area during the period 2011-2014. The assessment is conditional on two distinct reactions of the sovereign risk premium (either responding endogenously to fiscal shocks or being an exogenous process) and …Read More
The Rise Of The “Super Firms” And Inequality
Janssen, Ronald, (2017, “The Rise Of The “Super Firms” And Inequality”, Social Europe, 9 February Mainstream economic thinking often tries to explain the trend of high and rising inequalities by referring to the forces of technology. Technological progress, so the argument goes, works to destroy middle pay routine jobs while at the same time creating many high skilled jobs. There is, however, increasing recognition that this ‘technology’ factor is but part …Read More
Library » EU » Economy » Opinion Articles
The losers from credit crunches
Berton, Fabio , Mocetti, Sauro , Presbitero, Andrea , Richiardi, Matteo , (2017), “The losers from credit crunches”, VoxEu, 9 February In the aftermath of the Global Crisis, a severe credit crunch has had long-lasting consequences for a number of economies. Trade has collapsed (Paravisini et al 2011), investment expenditure has shrunk significantly (Cingano et al. 2016), and unemployment rates have increased markedly (e.g. Clements et al. 2012). These developments …Read More
Library » EU » Economy » Policy Papers
Unequal opportunities, unequal growth
Marrero, Gustavo A., Rodriguez, Juan Gabriel, Van der Weide, Roy, (2017), “Unequal opportunities, unequal growth”, VoxEu, 8 February Inequality can be both good and bad for growth. Unequal societies may be holding back one segment of the population while helping another. This column exploits US data to argue that inequality affects negatively the future income growth of the poor and positively that of the rich. This relationship is largely driven by …Read More
Library » EU » Economy » Opinion Articles
Bruegel conference discusses strategies to tackle Europe’s NPL crisis
Demertzis, Maria , Lehmann, Alexander , (2017), “Bruegel conference discusses strategies to tackle Europe’s NPL crisis”, Bruegel, 7 February Europe is facing a non-performing loan (NPL) crisis. Bringing together over 100 senior experts from the EU institutions, national authorities and key market participants, a recent Bruegel conference discussed current options and novel approaches. The event was held mainly under the Chatham House rule. Thus what follows is a brief, personal …Read More
Library » EU » Economy » Policy Papers
New eBook: Misallocation in Europe during the Global Crisis: Some stylised facts
Banerjee, Biswajit, Coricelli, Fabrizio, (2017), “New eBook: Misallocation in Europe during the Global Crisis: Some stylised facts “, VoxEu, 8 February Financial markets and the banking sectors in several European countries are still struggling to recover from the Global crisis, with many instances of unresolved problems involving bad loans and fragility of banks. This column introduces a new CEPR eBook, drawing on research presented at the first conference of the European …Read More
Library » EU » Economy » Scientific Articles
Does growth lead to inequality? It depends.
Causa, Orsetta, Hermansen, Mikkel, Ruiz, Nicolas, (2017), “Does growth lead to inequality? It depends.”, Structural Surveillance Division, OECD Economics Department, 10 January Widespread increases in inequality over the past three decades have raised the question of whether growth in itself is a driver of income inequality. Considering that correlation often tells little about causation, this question is less trivial than may appear at first glance. Indeed, the concomitant rise in GDP …Read More
Bank Lending Constraints in the Euro Area
Monteiro, Daniel P., Priftis, Romanos, (2017), “Bank Lending Constraints in the Euro Area”, European Commission Discussion Paper 043, 6 February This paper constructs stylized scenarios to assess the lending constraints faced by the banking sectors of euro area Member States arising from a combination of low profitability, adverse bank equity markets and the phase in of new capital requirements. In this connection, it also presents a comprehensive review of the potential sources of …Read More
Strengthening Economic Resilience: Insights From The Post-1970 Record Of Severe Recessions And Financial Crises
Caldera-Sánchez, Aida , de Serres, Alain, Gori, Filippo, Hermansen, Mikkel, Röhn, Oliver, (2017), “Strengthening Economic Resilience: Insights From The Post-1970 Record Of Severe Recessions And Financial Crises”, OECD, December 2016 No. 20, February The global financial crisis marked a turning point for the assessment of macroeconomic risks in developed countries. Following a period characterised by positive growth dynamics and overall macroeconomic stability, the 2008-09 economic turmoil served as a powerful reminder …Read More
Library » EU » Economy » Scientific Articles