We use a DSGE model to study the effectiveness of green-asset purchases by the central bank (Green QE), along the transition to a carbon-free economy driven by an emission tax, abstracting from price stability considerations. We find that Green QE helps to further reduce emissions, especially in...

Technology has changed and will continue to change the financial system. This paper proposes a set of tools that can give control entities a more profound insight into the markets and enable them to react to crises more efficiently. The theoretical proposal presented in this paper is a control...

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....

The eurozone crisis has revitalized the debate between economists on the role played by wages in open economies. Salaries paid to workers are at the same time a fundamental source of aggregate demand and a determinant of firms' international cost competitiveness. After presenting the most...

This paper evaluates the theoretical and empirical evidence that bears on the question of whether globalization and petrodollars recycling contributed to significant changes in inflation performance in the U.S. We assume that the impact of globalization can be direct and indirect. Direct impact...