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Persistent link: https://www.econbiz.de/10009236888
than ever, the ECB is willing to dampen asset bubbles in the early stage of their formation. This article explains what the … ECB can learn from historical asset bubbles in EU eurozone member countries. The empirical analysis indicates that asset … bubbles in some member countries are mostly followed by asset bubbles in further member countries, which supports the ECB …
Persistent link: https://www.econbiz.de/10010220211
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This article provides an overview of the impact of public sector pay and employment cutbacks in EU countries and discusses their justifi cation as part of austerity packages. It begins with the outcomes in the countries first hit by the economic crisis before discussing the impact of the crisis...
Persistent link: https://www.econbiz.de/10009663835
This paper presents an analysis of the implications of Greece's intense and long-lasting fi scal and external imbalances for the potential efficacy of a discretionary fiscal policy response to the current recession. It argues that, given recent developments in interest rate spreads and the...
Persistent link: https://www.econbiz.de/10009626606
Since the financial crisis in 2008-09, concern over the sustainability of some EU countries’ sovereign debt has continued to mount higher and higher. This paper explores the ways in which the financial crisis caused the deterioration of European debt-to-GDP ratios, examines which countries are...
Persistent link: https://www.econbiz.de/10009686812
Debt-to-GDP ratios have grown to unprecedented levels in many industrialised economies. To combat this threat, the authors call for a global debt brake following the Swiss or German example. The debt brakes should be incorporated into national constitutions and monitored by independent...
Persistent link: https://www.econbiz.de/10009686821
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Faced with the impossibility of reaching a political agreement to review the fiscal treaties, the Commission could limit itself to applying the current rules with flexibility, which would maintain an ambiguous situation: much ado about nothing.
Persistent link: https://www.econbiz.de/10013040791