In July 2017, Louis Rouanet argued that the bail out of two Italian banks, Veneto Banca and Banca Popolare di Vicenza, would be a ‘deathblow to the European Banking Union’. EconPol researcher Timo Wollmershäuser agrees, and says the correlation between risk premia for sovereigns and banks has since sharply increased to the high levels observed before the start of the Banking Union. ...Details
In our latest working paper, António Afonso and João Tovar Jalles assess, via system GMM, how Stock Flow Adjustments (SFA) affect the debt-to-GDP ratio in 65 countries (covering developed and emerging and low-income countries) between1985-2014. They find that SFAs positively contribute to the change in the debt-to-GDP ratio with a coefficient close to one. ...Details
EconPol Europe, the European network for economic and fiscal policy research, has welcomed five new associate partners to expand its reach into Czech Republic, the Netherlands, Portugal, Spain and Switzerland. The new associates join founding partners in Germany, France, the UK, Finland, Austria, Italy and Belgium to take the total number of university and non-university institutions in the network to 14. ...Details
Since the French-German Meseberg declaration from June 2018, the debate about euro-area reforms has gathered new momentum. The EconPol Europe Lab Session will discuss chances and risks of recent policy initiatives such as an unemployment re-insurance scheme or tools incentivising structural reforms in the member states. Can these instruments deliver what their proponents promise? How could a compromise on EMU reform look like that finds support in all member states?
Speakers: Mathias Dolls (Senior Economist, ifo Institute) Charles Wyplosz (Professor of International Economics, Graduate Institute of International and Development Studies, Geneva) Anita van den Ende (Deputy Director General, Dutch Treasury) Pier Carlo Padoan (Former Minister of Economy and Finances, Italy)
Moderator: Iain Begg (Professorial Research Fellow and Co-Director of the Dahrendorf Forum, European Institute, London School of Economics and Political Science)
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