The world is sleepwalking into a financial crisis

Gordon Brown. A leaderless world is sleepwalking towards a repeat of its near meltdown in late 2008 and early 2009 because it has failed to remedy the causes of the financial crash of a decade ago, former prime minister Gordon Brown has   […]

IMF reform: The never-ending quest

José De Gregorio, Barry Eichengreen, Takatoshi Ito, Charles Wyplosz. Twenty years ago, ICMB and CEPR published the first Geneva Report on the World Economy. Over these last two decades, the world of international finance has changed and so too has the IMF.   […]

Overcoming the hurdles to Italian Growth

Guntram Wolff. This opinion piece was also published in La Repubblica As the Italian government is contemplating its budgetary policy, it is useful to look at other countries’ experiences in how to deal with high debt levels. A salient example   […]

The rise of populism and the collapse of the left-right paradigm: Lessons from the 2017 French presidential election

Yann Algan, Elizabeth Beasley, Daniel Cohen , Martial Foucault. The 2017 French presidential election is but one example of the move away from the traditional left-right political axis. This column argues that subjective variables are key to understanding this shift. Votes on   […]

Price and wage-setting in advanced economies: Selected takeaways from the ECB’s Sintra Forum

Philipp Hartmann, Peter McAdam. The origins and implications of the low inflation dynamics that characterised the post-crisis recoveries in many advanced economies were at the heart of the ECB’s 2018 Sintra Forum on Central Banking. In this column, two of   […]

What should the EU do about the Turkish currency crisis?

Grégory Claeys, Guntram Wolff. The Turkish lira has been under significant pressure in recent weeks; in this blog post, the authors discuss the EU’s exposure to possible crisis in Turkey and how the EU should react. Πηγή: Bruegel πλήρες κείμενο  

The missing profits of nations

Thomas Tørsløv, Ludvig Wier, Gabriel Zucman. Between 1985 and 2018, the global average statutory corporate tax rate fell by more than half. This column uses new macroeconomic data to argue that profit shifting is a key driver of this decline.   […]

EU income inequality decline: Views from an income shares perspective

Zsolt Darvas. Over the past decade, the income share of low earners has increased in the EU while that of top earners has slightly declined. Although the upward convergence of the impoverished central European population is impressive, the southern European   […]

Life after default: Private versus official sovereign debt restructurings

Silvia Marchesi, Tania Masi. Euro area governments have just negotiated a debt relief agreement for Greece, but without face-value debt reduction. This column argues that specific characteristics of sovereign debt renegotiations have significant economic implications. When debt relief operations involve write-offs, the   […]

Global market power and its macroeconomic implications

Federico Diez, Daniel Leigh, Suchanan Tambunlertchai. The rise in the market power of large firms is assumed to affect economic activity, but measuring either market power or its effects is challenging. Based on firm-level data for 74 countries, this column   […]