Bubbles, Regulation, and Secular Stagnation
Krugman, Paul. Looking at current macroeconomic policy, the obvious question is, stupid or evil? And the obvious answer is, why do we have to choose?But it is, I think worthwhile – or at any rate soothing – to think about the longer-term future for monetary and fiscal policy. I recently talked about some of these […]
Does the European Semester deliver the right policy advice?
Darvas, Zsolt, Vihriälä, Erkki. This paper was prepared at the request of the Economic and Monetary Affairs Commitee of the European Parliament. The July 2013 European Council recommendations to the euro area recognise a number of fiscal and macrostructural challenges, but do not fully exploit the options made possible by the European economic governance framework. There are […]
The Sovereign Debt Crisis: Placing a curb on growth (updated edition)
Brender, Anton,Pisani, Florence & Gagna, Emile. This book provides an update to the major 2012 study by the same authors on the dual role of the public sector as the provider of the ultimate riskless asset and, at the same time, the source of a potential major systemic risk. In this second edition, Brender and his […]