Hacker, B., (2013), “Why The ‘Genuine EMU’ Will Not Be a Fiscal Union”, Social Europe Journal, 02 January. Although the critics of the Maastricht Treaty, who called attention to the risks of monetary integration without fiscal and political integration, long went unheeded, the current crisis has reopened the debate on the structure of EMU. At least there is – and this is confirmed by the process concerning a ‘genuine’ EMU …Read More
European Union, (2013), Quarterly Report on the Euro Area, Volume 12, No.4 The volume contains: The euro area’s growth prospects over the coming decade The growth impact of structural reforms Firms’ investment decisions in vulnerable Member States Corporate taxation and the composition of capital Since the start of the recovery in spring 2013, euro area wide GDP growth has remained subdued. While the recent pick up in domestic demand is …Read More
European Commission, (2013), Standard Eurobarometer 80, European Commission / Directorate-General for Communication, December. This report presents the first results of the Standard Eurobarometer 80 survey, which was carried out between 2 and 17 November 2013 in 34 countries or territories: the 28 European Union Member States, the five candidate countries (the Former Yugoslav Republic of Macedonia, Turkey, Iceland, Montenegro and Serbia), and the Turkish Cypriot Community in the part of …Read More
Rubio, E., (2013), “Which financial instrument to facilitate structural reforms in the euro area?”, Notre Europe – Jacques Delors Institute, Policy Paper No.104, December. The idea of creating contractual arrangements to facilitate structural reforms in the euro area starts to take shape. This policy paper by Eulalia Rubio provides some thoughts on this proposal and, more generally, on the rationale for setting up an incentive tool to facilitate reforms in the euro …Read More
Weeks, J., (2013), “A Eurozone Report Card 2013”, Social Europe Journal, 23 December. Three and one-half years ago the infamous Troika (IMF, European Commission and the European Central Bank, with the German government in close attendance) began its unsuccessful attempt to contain the crisis of the Eurozone, with a draconian austerity program for Greece. Subsequently, the Troika would add Ireland, Italy, Portugal and Spain to its list for the austerity …Read More
Shin, H.S., (2013), “Procyclicality and the Search for Early Warning Indicators”, International Monetary Fund, IMF Working Paper No. 13/258, December. This paper compares three types of early warning indicators of financial instability – those based on financial market prices, those based on normalized measures of total credit and those based on liabilities of financial intermediaries. Prices perform well as concurrent indicators of market conditions but are not suitable as early …Read More
Taylor, A., (2013), “External Imbalances and Financial Crises”, International Monetary Fund, IMF Working Paper No. 13/260, December. Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks within the border: it faults domestic financial systems where risks originated in excessive credit booms. We can use the lens of macroeconomic …Read More
Kastelli I. and Caloghirou, Y., (forthcoming), “The impact of knowledge-intensive entrepreneurship on the growth and competitiveness of European traditional sectors”. In H. Hirsch-Kreinsen , I. Schwinge (eds.), Knowledge-Intensive Entrepreneurship In Low-Tech Industries, Cheltenham: Edward Elgar Publishing. This chapter highlights the relation of knowledge intensive entrepreneurship with growth and competitiveness of European traditional sectors. We argue that knowledge intensive entrepreneurship in LMT sectors a) can contribute to overcoming competitive pressures from …Read More
Visco, I., (2013), “The aftermath of the crisis: Regulation, supervision and the role of central banks”, Centre for Economic Policy Research, Policy Insight No.68, December. The financial crisis has brought to the fore a number of issues. It has been severe and widespread, and has affected many economies in different and long-lasting ways. Maintaining financial stability has once again become a major concern of policymakers and central banks are heavily …Read More
Sinn, H.W., (2013), “Rescuing Europe from the Ground Up”, Project Syndicate, 21 December. The European Union has earned its place as an instrument for peace in Europe. Free trade has brought prosperity to its peoples, and the freedom to choose a place of residence guards against the resurgence of totalitarian regimes. The Acquis Communautaire protects all member states’ citizens under the rule of law. Anyone who doubts the existence of …Read More
