The debate on the fiscal strategy in Europe seems at times like a war of religions. This is unfortunate because the objective disagreements in substance (e.g. see VoxEU debate: Has austerity gone too far? ) are in our view less pronounced than is sometimes depicted.
Fiscal policy in Europe: Searching for the right balance
Marco Buti, Nicolas Carnot, 14 March 2013
The case for euro deposit insurance
Daniel Gros, Dirk Schoenmaker, 24 September 2012
The European Commission (2012) has now presented its legislative proposal for a banking union whose key element is a ‘Single Supervisory Mechanism’ to be headed by the ECB, but it says nothing about deposit insurance at the national level. Is that viable?
Banking union: A federal model for the European Union with prompt corrective action
Jacopo Carmassi, Carmine Di Noia, Stefano Micossi, 20 September 2012
The European Commission has published its proposals for the transfer of supervisory responsibilities to the ECB providing a comprehensive and courageous ‘first step’ towards a European banking union (the other steps being European deposit insurance and resolution procedures).
The commission’s proposal on bank supervisory powers for the ECB
Vincent O'Sullivan, Stephen Kinsella, 20 September 2012
Proposals from the European Commission (2012a) would give sweeping powers to the ECB in potentially the biggest shake-up in financial supervision since the creation of the Federal Reserve System in the US almost a century ago.
Débâcle: The 11th GTA report on protectionism
Simon J Evenett, 14 June 2012
In recent weeks official bodies such as the World Trade Organisation and the European Commission as well as leading private sector associations – the International Chamber of Commerce (ICC) and the so-called B20 group of business leaders – have made strong statements concerning rising protectionism in the run up to the G20 summit in Los Cabos, Mexico.
The European Commission’s proposals: Empty and useless
Francesco Giavazzi, Luigi Spaventa, 14 October 2010
Debts and deficits have always occupied centre stage of the European economic policy debate – the implicit assumption being that fiscal discipline is the relevant condition for the stability of the Union.
The Commission proposals for stronger EU economic governance: A comprehensive response to the lessons of the Great Recession
Marco Buti, Martin Larch, 14 October 2010
On 29 September, the European Commission adopted a comprehensive set of proposals to reform and to broaden EU economic governance. The reform package is the most recent step in a much broader effort to incorporate the lessons of the crisis in the EU policy framework, to prevent economic instabilities and, ultimately, to protect workers and taxpayers.
Stability and Growth Pact: Counterproductive proposals
Paolo Manasse, 7 October 2010
The global crisis has laid bare the inadequacy of the European surveillance procedures. Enshrined in the Stability and Growth Pact, the idea was to prevent fiscal ill-discipline, the explosion of domestic and foreign debt, trade imbalances, as well as competitiveness gaps in the Eurozone. It didn’t work. On 29 July the European Commission adopted an ambitious reform of the pact.
Eurozone reform: Not yet fiscal discipline, but a good start
Charles Wyplosz, 4 October 2010
After months of negotiations at all levels, including the Van Rompuy task force and sharp statements by the German government, the Commission has put forward its proposal to reform the Stability and Growth Pact. The ball is now in the court of the Council of Finance Ministers who, in all likelihood, will give their blessings to the proposal, at least to its core.
Call externalities, network effects, and market power: The Orange/T-Mobile merger
David Harbord, Steffen H Hoernig, 28 September 2010
Last year the European Commission (EC 2009) issued a recommendation proposing dramatic reductions in the fees mobile firms charge other networks for calling their subscribers. Earlier this year the same Commission approved the merger of Orange and T-Mobile in the UK mobile market (EC 2010). The two decisions interact in important ways.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Public debt and economic growth, one more timePanizza, Presbitero
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Rethinking macroeconomic policyBlanchard
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013
Reichlin, Turner, Woodford
CEPR Policy Research
- The "Greatest" Carry Trade Ever? Understanding Eurozone Bank RisksAcharya, Steffen
- Political Credit Cycles: The Case of the Euro ZoneFernández-Villaverde, Garicano, Santos
- Winning by Losing: Incentive Incompatibility in Multiple QualifiersDagaev, Sonin
- Income and schoolingBrückner, Gradstein
- Monetary Policy and Rational Asset Price BubblesGalí
- How the EZ crisis is permanently changing EU institutionsMicossi
- WTO 2.0: Global governance of supply-chain tradeBaldwin
- Is US economic growth over? Faltering innovation confronts the six headwindsGordon
- The economic crisis: How to stimulate economies without increasing public debtWood
- Austerity: Too Much of a Good Thing?Corsetti