Kregel, Jan, (2017), “A Two-Tier Eurozone or a Euro of Regions? A radical Proposal based on Keynes’ clearing union”, Levy Economics Institute of Bard College, Public Policy Brief No. 144, September In light of the problems besetting the eurozone, this policy brief examines the contributions of John Maynard Keynes and Richard Kahn to early debates over the design of the postwar international financial system. Their critical engagement with the early …Read More
Germany’s election: Behind consensus politics lie conflicting ideas of Europe
Bongardt, Annette, Codogno, Lorenzo, Torres, Francisco, (2017), “Germany’s election: Behind consensus politics lie conflicting ideas of Europe”, LSE EUROPP, 7 September Ahead of the 24 September German federal elections, Angela Merkel and the CDU/CSU are leading by a wide margin, although the number of undecided voters is still high. Annette Bongardt, Lorenzo Codogno and Francisco Torres write that although Europe has been relatively absent from the electoral debate, there is a …Read More
Composite Leading Indicators (CLI), OECD, September 2017
OECD/Composite Leading Indicators (CLI), September 2017/7 September 2017 Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend six to nine months ahead, continue to point to stable growth momentum in the OECD area as a whole. Stable growth momentum remains the assessment for the United States, Japan, Canada and the euro area as a whole, including Italy, and is now also expected in France.Signs are …Read More
GDP up by 0.6% in the euro area and by 0.7% in the EU28
Eurostat/GDP up by 0.6% in the euro area and by 0.7% in the EU28/7 September 2017 Seasonally adjusted GDP rose by 0.6% in the euro area (EA19) and by 0.7% in the EU28 during the second quarter of 2017, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2017, GDP grew by 0.5% in both …Read More
Remaking Europe: the new manufacturing as an engine for growth
Veugelers, Reinhilde, (2017), “Remaking Europe: the new manufacturing as an engine for growth“, Bruegel, 7 September Europe needs to know how it can realise the potential for industrial rejuvenation. How well are European firms responding to the new opportunities for growth, and in which global value chains are they developing these new activities? The policy discussion on the future of manufacturing requires an understanding of the changing role of manufacturing …Read More
Declining Youth Unemployment in Europe: The Effect of the Business Cycle or the European Youth Guarantee?
Barslund, Mikkel, Gros, Daniel, (2017), “Declining Youth Unemployment in Europe: The Effect of the Business Cycle or the European Youth Guarantee?”, CEPS, 4 September A fresh look at youth unemployment in Europe finds that it is not the huge societal problem previously thought, but rather that general unemployment merits closer attention. Relevant Posts Pastore, Francesco, (2017), «Getting It Right: Youth Employment Policy within the EU», IZA Institute of Labor Economics, Policy Paper …Read More
What the ECB Will and Won’t Do This Week
El-Erian, Mohamed A., (2017), “What the ECB Will and Won’t Do This Week”, Bloomberg View, 6 September When the Governing Council of the European Central Bank meets on Thursday, it will continue to prepare markets for the start of its long process of normalizing its unconventional monetary policy. But the central bank is unlikely to announce the specific details that markets and others are looking for, and not just because …Read More
Macron gambles on reducing unemployment through greater flexibility for employers
Parsons, Nick, (2017), “Macron gambles on reducing unemployment through greater flexibility for employers”, LSE EUROPP, 6 September French President Emmanuel Macron has pledged to reform France’s labour market regulations, but his proposals have been met with opposition from some political figures and trade unions. Nick Parsons explains that against the backdrop of falling popularity, Macron is essentially gambling that by giving employers greater flexibility, he can push down the country’s …Read More
Strong Euro Is Here To Stay
Minenna, Marcello, (2017), “Strong Euro Is Here To Stay”, Social Europe, 4 September The euro rally on FX markets really begins to look interesting now: 1.2 on the Dollar, a level never experienced since January 2015, just before the ECB’s official announcement of its Quantitative Easing program. This year, the Euro has strengthened by over 14% against the US currency. A paradox lies between the lines: the Federal Reserve has …Read More
Differences in follow-up help to explain why revenue-based consolidation plans appear more recessionary than spending-based plans
Beetsma, Roel, Furtuna, Oana, Giuliodori, Massimo, (2017), “Differences in follow-up help to explain why revenue-based consolidation plans appear more recessionary than spending-based plans”, VoxEU, 5 September Research has shown that planned fiscal consolidations have been less recessionary when carried out through public spending cuts rather than through increases in government revenues. This column argues that this may be at least partly due to differences in follow-up for the two consolidation …Read More