Archive
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Article
Rising Inequality is Holding Back the US Economy
Jul 16, 2015
A four percent growth goal for first term of the next president is not only possible, but is what we should strive to achieve.
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Article
How Dated Theories & Underlying Research Misguide Policy
Jul 15, 2015
The financial crisis of 2008 was unforeseen to a significant extent. One reason is that the dominant academic theories influencing political decision makers ignore recent advances and instead rely largely on models and decision science dating back to the Second World War.
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Video
Credit Booms & Credit Busts
Jul 9, 2015
There is now a growing consensus among policymakers and academics that a key element to improve safeguards against financial instability is to strengthen the “macroprudential” orientation of regulatory and supervisory frameworks.
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Working Paper
Conference paperMyths, Mix-ups and Mishandlings: What Caused the Eurozone Crisis?
Jul 2015
The Eurozone crisis has been wrongly interpreted as either a crisis of fiscal profligacy or of deteriorating unit-labour cost competitiveness (caused by rigid labour markets), or a combination of both.
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Article
The Greek Revolt Against Bad Economics Threatens European Elites
Jul 9, 2015
A look behind the scenes of the Greek referendum and what could happen next.
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Article
Greece, Europe, and the Future: The Institute Perspective
Jul 8, 2015
The thunder from the Greek “No” vote in the referendum on Sunday, July 5 continues to roll around the world.
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Article
How German Economists Really Think
Jul 7, 2015
A survey on behalf of the Sueddeutsche Zeitung indicates that German economists are much more American in their thinking than is presumed – with a rising trend.
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Article
Why 'Grexit' could be good for Greece
Jul 7, 2015
It is a shame that Greece was unable to manage its finances and is now slipping into chaos. But this outcome was inevitable and could not be permanently averted with loans from the international community.
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Article
Sinn Advises Greece to Reinstate the Drachma
Jul 6, 2015
It is time for Greece to make a daring leap and adopt its own currency, says Ifo President Hans-Werner Sinn. “The drachma should be introduced immediately as a virtual currency,” Sinn said in Munich.
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Article
Grexit: The Staggering Cost Of Central Bank Dependence
Jul 5, 2015
The ECB has decided to maintain its current level of emergency liquidity to Greece (ECB 2015). By refusing to extend additional emergency liquidity, the ECB has decided that Greece must leave the Eurozone. This may be a legal necessity or a political judgement call, or both. Anyway, it raises a host of unpleasant questions about the treatment of a member country and about the independence of the central bank.
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Working Paper
Partnership PaperIs There a Debt-threshold Effect on Output Growth?
Jul 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness.
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Video
Fixing the Eurozone
Jul 1, 2015
Greece: reculer pour mieux sauter
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Working Paper
Working paperThe Consumption Response to Liquidity-Enhancing Transfers: Evidence from Italian Earthquakes
Jun 2015
Exploiting three earthquakes in Italy as quasi-experiments, we analyse the response of homeowners’ consumption to transfers targeted to finance housing repair and reconstruction. To the extent that funds are made available up-front, these transfers are akin to loans, mainly affecting the liquidity of households’ wealth
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Working Paper
Working paperIs There a Debt-threshold Effect on Output Growth?
Jun 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness.
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Article
Europe’s Attack on Greek Democracy
Jun 30, 2015
The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics.