European Commission, (2013), “Member States’ Competitiveness Performance and Implementation of EU Industrial Policy report 2013”, European Commission, 25 September. Progress has been made by Member States to improve the competitiveness of their economies, but many challenges still remain. An updated Industrial performance scoreboard assesses Member States’ industrial performance in five key areas, namely innovation and sustainability; business environment, services and infrastructure; public administration; finance and investment; and skills. The areas …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
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.
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
The Shadow Economy
Schneider, Fr., Williams, C., (2013), “The Shadow Economy”, The Institute of Economic Affairs. To some people, the shadow economy is a great example of free economic activity at work. It is entirely unregulated except by the participants themselves; no tax is paid on shadow economic activity; and it may be possible to pursue activities in the shadow economy which are prohibited by law unjustly. Indeed, the smugglers of Sussex are …Read More
A Levy Institute Model for Greece
Papadimitriou, D., Zezza, G., Nikiforos, M., (2013), “A Levy Institute Model for Greece”, Levy Institute. In this report, we present the main characteristics of a stock-flow consistent model for Greece, estimated on quarterly data over the last 30 years and built to provide us with a “tool for thinking,” in the words of Wynne Godley (the architect of such models), to explore the implications of alternative policy options for the …Read More
OECD Employment Outlook
OECD, (2013), Employment Outlook, Paris. Concerns are growing in many countries about the strains that persistently high levels of unemployment are placing on the social fabric. Over five years have passed since the onset of the global financial and economic crisis but an uneven and weak recovery has not generated enough jobs to make a serious dent in unemployment in many OECD countries. In April 2013, 8% of the OECD …Read More
IMF, (2013), World Economic Outlook-Update, July.
IMF, (2013), World Economic Outlook-Update, July. Global growth is projected to remain subdued at slightly above 3 percent in 2013, the same as in 2012. This is less than forecast in the April 2013 World Economic Outlook (WEO), driven to a large extent by appreciably weaker domestic demand and slower growth in several key emerging market economies, as well as a more protracted recession in the euro area. Downside risks …Read More
IMF, Country Report: Greece
IMF, (2013), Country Report: Greece, N.13/154 June. In the midst of a sharp and socially painful recession, Greece is making important progress in overcoming deep-seated problems. Progress on fiscal adjustment has been exceptional by any standard, with the cyclically-adjusted primary balance having improved cumulatively by about 15 percent of GDP during 2010–12. Labor market reforms are helping to realign nominal wages and productivity; this internal devaluation has reduced the competitiveness …Read More