EconoMonitor

Economics Blog Aggregator

    Europe

  • VoxEU.org: Recent Articles

    Stock prices and high-frequency news analytics

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  • VoxEU.org: Recent Articles

    Cross-border acquisitions and labour regulations

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  • Back-Of-The-Envelope Economics

    Greece vs Germany: Monty Python's take

    (courtesy of @nereidadin)Tweets by @pmanasse !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); ...more

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  • naked capitalism

    2:00PM Water Cooler 7/1/15

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  • naked capitalism

    Tsipras Accepts Most Creditor Terms as Merkel Insists on Referendum

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  • naked capitalism

    The Decisions of July: The European Elite Goes to War in 1914

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  • VoxEU.org: Recent Articles

    Procyclical emerging market policy: New evidence

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  • A Fistful Of Euros

    Europe muddles through: Mediterranean edition

    This Politico piece of mine argues that Europe has talked itself around to sharing the effort to rescue shipwrecked migrants in the Mediterranean, having floated a variety of draconian threats to justify getting warships down there and then quietly backed out of them. I hang this story on the voyage of HMS Bulwark, which started off by sitting the crisis out in Turkey, was then offered by the British to take part in some ill-defined military option, and ended up being congratulated by Defence Secretary Michael Fallon and, dear God, the Daily Mail for its role in the search-and-rescue operation. Bulwark‘s deployment is up in a few days, and the government has promised to relieve her – however, the relief is HMS Enterprise, a specialised hydrographic survey ...more

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  • Back-Of-The-Envelope Economics

    Il Piede in Due Staffe di Tsipras

    A uno sguardo superficiale, la decisione di Tsipras di convocare un referendum sulla proposta di accordo dell’Ue sembra irreprensibile....(cont)Tweets by @pmanasse !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); ...more

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  • Back-Of-The-Envelope Economics

    Tsipras' choice : running with the hare and hunting with the hounds

    On the surface, Tsipras' decision to hold a Referendum on the EU agreement proposal seems irreprehensible. This is a  crucial decision for Greece  which would have far reaching economic and political implications for the next few years (Drachma vs Euro, Russia/EU influence). Democracy requires that the people should decide.This  narrative is nonsense. Tsipras has been catapulted into power by the promise of "no more austerity and debt repudiation",  a promise that was impossibile to keep. Now Tsipras is calling for a Referendum and is declaring he is campaigning for a "NO" to the current agreement with creditors.If the Greek prime minister really thinks that Greece would be better off with no agreement (and with a full blown banking and sovereign deb...more

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  • A Fistful Of Euros

    Greece and Iceland, controls and controls

    Now that Greece has controls on outtake from banks, capital controls, many commentators are comparing Greece to Iceland. There is little to compare regarding the nature of capital controls in these two countries. The controls are different in every respect except in the name. Iceland had, what I would call, real capital controls – Greece has control on outtake from banks. With the names changed, the difference is clear. Iceland – capital controls The controls in Iceland stem from the fact that with its own currency and a huge inflow of foreign funds seeking the high interest rates in Iceland in the years up to the collapse in October 2008, Iceland enjoyed – and then suffered – the consequences, as had emerging markets in Asia in the 1980s and 1990s. Enjoyed, be...more

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  • The Irish Economy

    ……the unpitied calamity of being repeatedly caught in the same snare….

    If an extend-and-pretend deal is done it will be the third Greek ‘rescue’. Without debt relief it will also be the third to break the IMF rule, adopted after the Argentina failure in 2001, to avoid financing countries with unsustainable debts. In early 2010 the debt/GDP ratio in Greece was predicted at 115% (it turned out to be 130%), the deficit in double digits and GDP sinking fast. The Fund rewrote its rule-book to get involved in the Troika despite the unwillingness of IMF staff to sign off on debt sustainability. See the account from the CIGI think-tank https://www.cigionline.org/sites/default/files/cigi_paper_no.61web.pdf The 2012 deal repeated the procedure, this time with haircuts of private creditors. The Greek economy is again contracting, the b...more

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  • David Smith's EconomicsUK.com

    Cut tax rates at the bottom, not at the top

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  • A Fistful Of Euros

    Club within a club

    Reuters – One official said Eurogroup chair Jeroen Dijsselbloem would make a statement following the meeting of the 19 before a further meeting of the 18 with creditor institutions, including the ECB and IMF. Greece is excluded from that latter meeting. Greece is a member of the IMF. The IMF’s Articles of Agreement give the first of its purposes as – To promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems. Is there a precedent for the IMF sitting in on a meeting of a currency union, minus one of its members, for the purposes of agreeing some kind of currency quarantine of that member? ...more

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  • The Irish Economy

    Ireland in Recovery, Greece in Crisis

    Adele Bergin of the ESRI and I made a presentation to a mini-symposium on Austerity: the Irish Experience at UCD last week.  Our analysis points out how wrongheaded it is to suggest, as some have done over the last few days, that if only the Greeks would take their medicine the way we did they might be able to expect an equivalent recovery.  This ignores the huge structural differences between the two economies. Faced with evaporation of the tax base, jittery markets and a need for concessionary funding, our current government and the previous one did what was required on the fiscal side.  In the language of economics textbooks however, consolidation was necessary but not sufficient for the timing and pace of the recovery. The first structural difference is the vastl...more

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  • The Irish Economy

    The Five Presidents’ Report

    Here. The submissions from the Irish government are here and here. My own submission is here.

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  • David Smith's EconomicsUK.com

    Booming job market gives Britain a pay rise

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  • David Smith's EconomicsUK.com

    First get your budget surplus, then try to keep it there

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Aaron Menenberg Policies of Scale

Aaron Menenberg is Foreign Policy and Energy analyst, and a Future Leader with Foreign Policy Initiative. He also co-hosts Podlitical Risk (@podliticalrisk). He is a graduate student in international relations at The Maxwell School of Syracuse University. Previously he has worked at Praescient Analytics, The Hudson Institute, for the Israeli Ministry of Defense, and at the IBM Corporation. The views expressed are his own, and you can follow him on Twitter @AaronMenenberg. He welcomes questions and comments at menenbergaaron@gmail.com.