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Why Global Inequality Matters

18 March, 2016
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Milanovic, Blanko, (2016),” Why Global Inequality Matters“, Social Europe, 18 March Let me start by enquiring about the importance assumed by inequality in the public debate during these last years. As we know, inequality has been marginalised both in academia and in politics – also and especially on the left, which should have been the most sensitive to social issues. Then, all at once, with the outbreak of the crisis, inequality has …Read More

Library » EU » Economy » Society » Opinion Articles

Finance, Labour, Capital, and International Integration

17 March, 2016
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Bertola, Giuseppe, (2016), “Finance, Labour, Capital, and International Integration”, Centre for Economic Policy Research, March Labour incomes depend on structural as well as politico-economic factors, because labour market policies partially remedy the financial market imperfections that make labour income shocks difficult to insure, and have different implications for labour and capital income. This paper illustrates such theoretical insights with a simple model, and reviews evidence of their empirical relevance generated by …Read More

Library » EU » Economy » Scientific Articles

When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies

17 March, 2016
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Bordon, Anna Rose, Ebeke, Christian, Shirono, Kazuko, (2016), “When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies”, IMF Working Paper, No. 16/62, 15 March Structural reforms are expected to lift growth and employment, but their effects are surprisingly difficult to pin down empirically. One reason is their potential endogeneity to the economic environment in which they are conducted. For example, the impact of a reform implemented shortly before …Read More

Library » EU » Economy » Scientific Articles

The end of the honeymoon: The increasing differentiation of (long-term) unemployment risks in Europe

17 March, 2016
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Heidenreich, Martin, (2015), “The end of the honeymoon: The increasing differentiation of (long-term) unemployment risks in Europe”, Journal of European Social Policy, Issue 4, Volume 25, pp. 393-413, October This article discusses the changing social distribution of unemployment and long-term unemployment risks during the current financial and economic crisis. These risks are interpreted as the result of three different, overlapping forms of labour market segmentation: first, the institutionally stabilized polarization between …Read More

Library » EU » Economy » Scientific Articles

The ‘Tax Shift’: A Surrealist Fantasy

16 March, 2016
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Drahokoupil, Jan, (2016), “The ‘Tax Shift’: A Surrealist Fantasy“, Social Europe, 15 March Reducing taxes on labour – personal income taxes and employers’ and employees’ social security contributions – is often seen as key to increasing employment levels. The latest crop of country-specific recommendations issued by the European Commission is a case in point. Relevant Posts  OECD tax burdens on wages rising without tax rate increases, OECD Publications, April 2015. Holter, H., Krueger, D. & Stepanchuk, S. (2015) …Read More

Library » EU » Economy » Society » Opinion Articles

In-work poverty and labour market trajectories: Poverty risks among the working population in 22 European countries

16 March, 2016
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Halleröd, Björn, Ekbrand, Hans, Bengtsson,  Mattias , (2015), “In-work poverty and labour market trajectories: Poverty risks among the working population in 22 European countries”, Journal of European Social Policy, Issue 5, Volume 25, pp.473-488, December  Is in-work poverty a low-wage or an unemployment problem, and is it the same problem all across Europe? Because of the definitional ambiguity, we really do not know. In this article, we use longitudinal European Union-Statistics on Income and Living Conditions (EU-SILC) …Read More

Library » EU » Economy » Society » Scientific Articles

ECB TLTRO 2.0 – Lending at negative rates

15 March, 2016
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Merler, Silvia, (2016), “ECB TLTRO 2.0 – Lending at negative rates”, Bruegel Blog, 11 March The ECB first announced its targeted long-term refinancing operations (TLTRO)  in summer 2014, and operations started in September 2014. Under the first version of the programme, banks could borrow an initial allowance of 7% of their outstanding loans to the euro area non-financial private sector. They could then borrow additional funds in a second wave …Read More

Library » EU » Economy » Opinion Articles

Minimal conditions for the survival of the euro

15 March, 2016
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Eichengreen, Barry, Wyplosz, Charles, (2016), “Minimal conditions for the survival of the euro”, Voxeu, 14 March The Eurozone crisis has shown that monetary union entails more than just sharing monetary policies. This column, first published on 12 February 2016, identifies four minimal conditions for solidifying the monetary union. In the case of fiscal policy, this means a decentralised solution. In the case of financial supervision and monetary policy, centralisation is …Read More

Library » EU » Economy » Opinion Articles

Helicopter drops reloaded

15 March, 2016
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Hüttl, Pia, Leandro, Alvaro, (2016), “Helicopter drops reloaded”, Bruegel Blog, 14 March What’s at stake: Central banks have recently been scaling up their unconventional monetary policy measures. Discussions about helicopter money seem to be getting ever louder. We review the theoretical discussions, the effectiveness of tax-rebates and legal and political complications. Relevant Posts De Santis A., Roberto, Legrenzi, Gabriella and Milas, Costas, (2015), “Fiscal policy adjustments in the euro area stressed countries: …Read More

Library » EU » Economy » Opinion Articles

The curious case of the guaranteed minimum income (GMI): Highlighting Greek ‘exceptionalism’ in a Southern European context

15 March, 2016
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Lalioti, Varvara, (2016), “The curious case of the guaranteed minimum income (GMI): Highlighting Greek ‘exceptionalism’ in a Southern European context”, Journal of European Social Policy, 3 February In Greece, after many years of failure to establish a national-level guaranteed minimum income (GMI) in line with European Union (EU) recommendations, the government recently decided to try a pilot scheme. Explanations are proposed for the long-standing policy inertia and the recent change. …Read More

Library » EU » Economy » Scientific Articles