Redesigning the ECB with regional rather than national central banks
Burda, Michael. Eurozone national central banks that take a national perspective risk politicising the ECB’s monetary policy. This column argues that this is a significant risk that should be overcome with a fundamental overhaul of the Eurosystem. A central element would be to take the ‘national’ out of the EZ’s national central banks. Just as […]
Short-time work: Does it save jobs?
Balleer, Almut, Gehrke, Britta, Lechthaler, Wolfgang & Merkl, Christian. During the Great Recession, 25 of 33 OECD countries have used some version of short-time work, a form of publicly subsidised working-time reductions. This column argues that despite its popularity, knowledge of the macroeconomic effects of this measure is limited. Using Germany as a case study, it’s […]