Brazil can learn from Spain: don’t delay adjustment
This post first appeared in the FT’s beyond brics blog. Brazil’s economy and politics have long been playing with fire. Now the rest of the world risks getting burnt by waiting for the crisis to be addressed domest...
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Why Grexit would not help Greece
The genie is out of the bottle: Europe is again discussing the possibility of Greece leaving the euro. With it, the debate has re-emerged whether this would be helpful or not for Greece and whether there would be contagi...
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What is behind the reduction of private sector debt? Comparing Spain and the UK
Spain and the United Kingdom are well ahead in the road to economic recovery [ref]See i.e. “Spain’s recovery boosts labour market“, Financial Times, for Spain and “Chart: The UK reaching pre-crisis GDP ...
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Eurosystem collateral policy and framework: Was it unduly changed?
All Eurosystem credit operations, including the important open market operations, need to be based on adequate collateral. Liquidity is provided to banks against collateral at market prices subject to a haircut. The Euro...
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Addressing weak inflation: The European Central Bank’s shopping list
There are clear benefits to price stability. High inflation can distort corporate investment decisions and the consumption behaviour of households. Changes to inflation redistribute real wealth and income between differe...
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An evaluation of the Troika’s programmes in the euro area
On Friday April 19th 2013, Bruegel fellows Jean Pisani-Ferry, André Sapir and Guntram Wolff presented a study evaluating the Troika’s recent programmes in the euro area. The presentation took place at the Peterson ...
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Crecimiento y Desendeudamiento. ¿Es posible? ¿Cuáles son las alternativas?
XVIII Reunión del Círculo de Economía: “Crecimiento y Desendeudamiento. ¿Es posible? ¿Cuáles son las alternativas?” por Andreu Mas-Colell, Wolfgang Münchau, Carmen Reinhart y Guntram Wolff. Andreu Mas-Colell ...
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