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A new Greek test for Europe

Mody, A., (2013), “A new Greek test for Europe”, Project Syndicate, 16 September. Over the last year, it has been easy to lose sight of the Greek debt crisis. Brimming with official funds, Greece was apparently on the mend. Though privatization plans lagged, the Greeks won high marks for doubling down on fiscal austerity. In Europe’s summer of quiet triumphalism, ever-lower expectations were easy to beat. But Greece is set …Read More

Is Europe out of the woods?

Eichengreen, B., (2013), “Is Europe out of the woods?”, Project Syndicate, 11 September. And what happened in Greece would not stay in Greece. Once the process of euro exit had started, there was no telling where it would stop. The general feeling was that the common currency was doomed. CommentsView/Create comment on this paragraphIn fairness, this dark prognosis was not universally embraced. My own favorite recollection of this period is …Read More

Countries with higher rates of taxation tend to have happier citizens

Binder, D., (2013), “Countries with higher rates of taxation tend to have happier citizens”, European Politics and Policy Blog, 10 September. What impact does a country’s level of taxation have on the happiness of its citizens? Using OECD data, David Binder assesses the relationship between high taxation levels and measures of citizen wellbeing/happiness. He finds that there is a correlation between high taxation and increased happiness, but that there are …Read More

Euro-Zone Unemployment Unlikely to Fall Quickly

Billington, I., (2013), “Euro-Zone Unemployment Unlikely to Fall Quickly”, The Wall Street Journal, The Euro Crisis Blog, 10 September. The euro zone may have emerged from recession this year, but unemployment is unlikely to fall quickly with companies less likely to hire staff in the final three months of the year than they were earlier in 2013, a survey of employers showed Tuesday. The quarterly Manpower Employment Outlook shows that, while there …Read More

Greece in Recession: Economic predictions, mispredictions and policy implications

Petralias, A., Petros, S. and Prodromidis, P., (2013), “Greece in Recession: Economic predictions, mispredictions and policy implications”, Hellenic Observatory Papers on Greece and Southeast Europe, GreeSE Paper No.75, September. We look into the available macroeconomic figures and the predictions made about the recession in Greece by international organizations, Greek research centers, and the Greek government; and suggest that the predictions regarding the decline in real GDP in recent years were …Read More

The Global Competitiveness Report

World Economic Forum, (2013), “The Global Competitiveness Report”, 4 September. Excellent innovation and strong institutional environments are increasingly influencing economies’ competitiveness, according to The Global Competitiveness Report 2013-2014, which is launched today. The report’s Global Competitiveness Index (GCI) places Switzerland at the top of the ranking for the fifth year running. Singapore and Finland remain in second and third positions respectively. Germany moves up two places (4th) and the United States …Read More

Interim Economic Assessment

OECD, (2013), “Interim Economic Assessment”, 3 September. A moderate recovery is underway in the major advanced economies, according to the OECD’s latest Interim Economic Assessment.  Growth is proceeding at encouraging rates in North America, Japan and the UK. The euro area as a whole is out of recession, although output remains weak in a number of countries.

Role of Apprenticeships in Combating Youth Unemployment in Europe and the United States

Aivazova, N., (2013), “Role of Apprenticeships in Combating Youth Unemployment in Europe and the United States”, Peterson Institute for International Economics Policy Brief, N. 13-20. Many of the world’s advanced economies continue to struggle with sluggish growth and high unemployment, especially among younger workers. One reason for high unemployment in countries such as Greece, Portugal, and Spain is a mismatch between the skills demanded by employers and those available among the population. …Read More

Assessing the Impact and Phasing of Multi-year Fiscal Adjustment: A General Framework

Roaf, J., (2013), “Assessing the Impact and Phasing of Multi-year Fiscal Adjustment: A General Framework”, IMF Working Paper, N.,13/182. This paper provides a general framework to assess the output and debt dynamics of an economy undertaking multi-year fiscal adjustment. The framework allows country-specific assumptions about the magnitude and persistence of fiscal multipliers, hysteresis effects, and endogenous financing costs. In addition to informing macro projections, the framework can also shed light on the …Read More

EL.STAT.: The Greek Economy

EL.STAT., (2013), “The Greek Economy”, 26  July. The Greek Economy publication aims to provide the latest key economic information on Greece in a clear and comprehensive manner. Written in both the greek and english languages, it is designed for users of statistics who seek updated information on recent economic developments, as well as long-term economic trends. It provides information on major economic indicators and time series compiled mostly by the …Read More