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European Business Cycle Indicators 4th Quarter 2016

European Commission, (2017), “European Business Cycle Indicators 4th Quarter 2016”, European Commission Publications, January 2017 The latest EU-wide Investment Survey was conducted in October-November 2016. The results indicate that euro-area and EU real manufacturing investment has risen in 2016 (by 1.2% and 3.1%, respectively) and is foreseen to increase further in 2017 (at rates of 2.4% and 2.7%, respectively). At country level, manufacturing managers assessed their investment in 2016 to have …Read More

The Global Talent Competitiveness Index 2015-16

Lanvin, Bruno, Evans, Paul,(2017), “The Global Talent Competitiveness Index 2015-16”, INSEAD-Adecco Group-HCLI, January 2017 Since the release of the last edition of the Global Talent Competitiveness Index in January 2015 in Davos, Switzerland, much has changed with regards to talent migration, labour markets, and talent development and flow. Over the last 12 months, the many presentations that were made of the report’s findings around the world have generated significant comments …Read More

Analysis of developments in EU capital flows in the global context (3rd annual report)

  Darvas, Zsolt, Efstathiou, Konstantinos, Huttl, Pia, Schoenmaker, Dirk,  (2017), “Analysis of developments in EU capital flows in the global context (3rd annual report)”, Bruegel, 10 January Free movement of capital, which is one of the four fundamental economic freedoms of the European Union, can enhance welfare if it leads to better allocation of financial and productive resources. However, it can also be a source of vulnerability, with far-reaching spillovers. …Read More

The Age Of Hyper-Uncertainty

Eichengreen, Barry, (2017), “The Age Of Hyper-Uncertainty”, Social Europe, 9 January The year 2017 will mark the 40th anniversary of the publication of John Kenneth Galbraith’s The Age of Uncertainty. Forty years is a long time, but it is worth looking back and reminding ourselves of how much Galbraith and his readers had to be uncertain about. In 1977, as Galbraith was writing, the world was still reeling from the effects …Read More

Debt Sustainability Monitor 2016

European Commission, (2017), “Debt Sustainability Monitor 2016”, European Commission, January 2017 The economic and financial crisis has left a legacy of high public debt burdens in a number of EU countries, in some cases accompanied by contemporaneously high debt in the private sector, thus making deleveraging more difficult. Furthermore, the current macroeconomic context of moderate GDP growth and very low inflation (well below the ECB objective of below but close …Read More

Can the EU survive in an age of populism?

Gros, Daniel, (2017), “Can the EU survive in an age of populism?”, CEPS, 9 January Despite the formidable threats currently facing the EU, Daniel Gros offers reassurances that its multi-level democracy and open economy will become more attractive again once the populists fail to deliver and weakened checks and balances lead to excesses. Another year has passed and another threat to the existence of the European Union is looming. The …Read More

The future of central bank independence: Results of the CFM–CEPR Survey

Den Haan, Wouter, Ellison, Martin, Ilzetzki, Ethan, McMahon, Michael , Reis, Ricardo, (2017), “The future of central bank independence: Results of the CFM–CEPR Survey”, VoxEu, 10 Ιανουαρίου Over the past 30 years, most central banks across the advanced economies have been given the ability to conduct monetary policy independently from interference by fiscal and political authorities. The latest Centre for Macroeconomics and CEPR expert survey invited views on whether this era …Read More

ECB finally addressing Italian bank woes

Véron, Nicolas, (2017), “ECB finally addressing Italian bank woes”, Bruegel, 4 January Most of Italy’s banks, many of which are small and local, have politicized governance features that blur commercial incentives. As a consequence, they were unable to rein in their lending during the downturn of the late 2000s. Many of these loans turned sour in subsequent years and local connections prevented the banks from working them out, so they …Read More

Taxation of temporary jobs: Good intentions but bad outcomes

Cahuc, Pierre, Charlot, Olivier, Malherbet, Franck, Benghalem, Hélène, Limon, Emeline, (2017), “Taxation of temporary jobs: Good intentions but bad outcomes”, VoxEu, 5 January Temporary job contracts account for a substantial proportion of the workforce in countries such as France and Spain, but they can result in high job turnover and instability. This column assesses the impact of government policies that impose taxes on temporary contracts to induce employers to lengthen …Read More

Approaches to the labour market integration of refugees and asylum seekers

Foti, Klara, Fromm, Andrea, (2016), “Approaches to the labour market integration of refugees and asylum seekers”, Eurofound, December Providing swift access to the labour markets of host countries is part of the solution to Europe’s refugee crisis. This report takes forward existing research on the labour market integration of refugees (those with the officially recognised status of international protection) and asylum seekers (those who have applied for international protection and …Read More