Crisis or not, healthcare cries out for large-scale public investments that lock in what appears to be an historic trough in government borrowing costs in many of the world’s advanced countries.
Public investments for long-term economic growth: the case of health
Michael Stolpe, 22 March 2013
European labour-market reform
John Driffill, 8 March 2013
Unemployment continues to rise in the Eurozone and is increasingly drawing attention to its sluggish labour markets. There is a lingering suspicion that these markets are not flexible enough; that wage growth (real and in money terms) does not respond sufficiently to unemployment.
Investigating the effect of exchange-rate changes in Japan, China, east Asia, and Europe
Willem Thorbecke, 26 February 2013
Policymakers are concerned about currency wars and competitive devaluations. Many complain that trading partners are artificially lowering their exchange rates through quantitative easing and managed exchange rates in order to gain price competitiveness for their exporters.
Youth unemployment in Europe: More complicated than it looks
Jacob Funk Kirkegaard, 13 October 2012
Hardly a day goes by without a reminder of youth unemployment rates in excess of 50% in Greece, Spain, Italy, and other parts of the European periphery. Sometimes the reminders are in the form of rants by economists or pundits about the moral deficiency of EZ demands for austerity and the risks of a lost generation of young people.
On work hours in the US and Europe
Hans Holter, Indraneel Chakraborty, Serhiy Stepanchuk, 18 May 2012
According to recent research, Americans work 30% more than Europeans (Prescott 2004 and Rogerson 2006). This was not the case in early 1970s when Western Europeans worked more than Americans. What accounts for the large differences between countries today?
Have the US and European economies parted company? The signals are increasingly clear
Lucrezia Reichlin, Domenico Giannone, Jasper McMahon, Saverio Simonelli, 2 May 2012
According to the NBER (2012), the last recession ended in June of 2009. CEPR (2012) dates the end of the recession in the Eurozone in the same quarter. For the UK, there is no established chronology but a visual inspection of Figure 1 shows that the recession and the subsequent recovery in the three economies have been highly synchronised.
EU agricultural policy: Responding to the crisis?
Stefan Tangermann, 10 November 2011
The EU is stumbling through the most disastrous crisis in its history. The only way out of the disarray, if the Eurozone survives it at all, is rigid fiscal discipline everywhere in the EU, and structural adjustments that improve the competitiveness of Europe’s economy (De Grauwe 2011).
Do highly educated women choose smaller families?
Moshe Hazan, Hosny Zoabi, 3 October 2011
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Mistaken monetary policy lessons from Japan?
John Muellbauer, Keiko Murata, 21 August 2011
The dot-com crisis of 2000-2001 and the recent global crisis of 2008-2009 have refocused attention on the lessons of Japan’s lost decade (eg Kobayashi 2008). One lesson almost universally accepted is the need for rapid refinancing of the banking system after a financial crisis.
Austerity and Anarchy: Budget Cuts and Social Unrest in Europe, 1919-2009
Hans-Joachim Voth, Jacopo Ponticelli, 9 August 2011
Topics: Global crisis, Macroeconomic policy, Poverty and income inequality, Welfare state and social Europe
Tags: demonstrations, Europe, government deficits, instability, London riots, public expediture, riots and unrest
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Helicopter money as a policy optionReichlin, Turner, Woodford
- The case for 4% inflationBall
- 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