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Wednesday, July 30, 2014

Sovereign debt reprofiling, take two — from the IMF | FT Alphaville

Sovereign debt reprofiling, take two — from the IMF | FT Alphaville

Growth Effects Of EU Integration

Bertelsmann Foundation | Press Releases



Policy Brief # 2014/02

The Kiel Institute Barometer of Public Debt —

The Kiel Institute Barometer of Public Debt —



The Primary Surplus
The primary surplus is the difference between a country’s government revenues and expenditures, exclusive of interest. The ratio of the primarysurplus to GDP (the primary surplus ratio PSR) must be equal to or greater than the debt ratio (S) times the difference between the nominal interest rate (i) and the nominal growth rate (g) if the debt ratio is to remain stable.
PSR ≥ (i – g)/(1 + gS.

Can large primary surpluses solve Europe’s debt problem? | vox

Can large primary surpluses solve Europe’s debt problem? | vox



For the debts of European countries to be sustainable, their governments will have to run large primary budget surpluses. But there are both political and economic reasons to question whether this is possible. The evidence presented in this column is not optimistic about Europe’s crisis countries. Whereas large primary surpluses for extended periods of time did occur in the past, they were always associated with exceptional circumstances.

Tuesday, July 29, 2014

Friday, July 25, 2014

Pablo Torija : "Do Politicians Serve the One Percent?"

openaccess.city.ac.uk/2114/1/CITYPERC-WPS-2013_04.pdf



Abstract 
Present social movements, as “Occupy Wall Street” or the Spanish “Indignados”, claim that politicians work for an economic elite, the 1%, that drives the world economic policies. In this paper we show through econometric analysis that these movements are accurate: politicians in OECD countries maximize the happiness of the economic elite. In 2009 center-right parties maximized the happiness of the 100th-98th richest percentile and center-left parties the 100th-95th richest percentile. The situation has evolved from the seventies when politicians represented, approximately, the median voter. 

Friday, July 4, 2014

The Missing Greek Exports - Social Europe Journal

DG ECFIN And The Missing Greek Exports - Social Europe Journal

Joshua Aizenman : Germany and the future of the euro | vox

Germany and the future of the euro | vox

Just published: the scientific answer of the ECB to the crisis | Real-World Economics Review Blog

Just published: the scientific answer of the ECB to the crisis | Real-World Economics Review Blog

EUROPP – Despite optimistic economic assessments, Greek living standards are still a long way from emerging from the crisis

EUROPP – Despite optimistic economic assessments, Greek living standards are still a long way from emerging from the crisis

Faced by the crisis, an entire social model is being turned topsy-turvy in the interests of financial and economic elites. Instead of taking effective action against the crisis – through public investment, employment programmes, regulation of the finance markets, prevention of the flight of capital and extensive participation of the wealthy in the burdens of the crisis – the situation is being taken as an opportune time to whittle away social security systems, destroy trade unions and employee rights, and sell off public property at low prices.