Banking Europe: Strength in the Union?
By Céline Antonin and Vincent Touzé On 4 November 2014, the European Central Bank became the single supervisor of banks in the euro zone. This was […]
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Devaluation through wages in the euro zone: a lose-lose adjustment
by Sabine Le Bayon, Mathieu Plane, Christine Rifflart and Raul Sampognaro Since the outbreak of the financial crisis in 2008 and the sovereign debt crisis in […]
On the difficulty of carrying out structural reforms in a period of high unemployment
By Sabine Le Bayon, Mathieu Plane, Christine Rifflart and Raul Sampognaro Structural reforms aimed at developing a more flexible labour market are often attributed all the […]
Recovery aborted
By Christophe Blot This text draws on the article “Le piège de la déflation: perspectives 2014-2015 pour l’économie mondiale” [The deflation trap: the 2014-2015 outlook for […]
Decline of the euro and competitive disinflation: who’s going to gain the most?
By Bruno Ducoudré and Eric Heyer For nearly two years, between mid-2012 and mid-2014, the euro appreciated against the world’s major currencies. Having reached a level […]
France: duty-free growth
By Bruno Ducoudré , Éric Heyer, Hervé Péléraux, Mathieu Plane This post summarizes the 2014-2015 outlook for the French economy In early 2011, France was one […]
Austerity without end – or, how Italy found itself trapped by European rules
By Raul Sampognaro If the budget submitted by France is out of step with the rules on fiscal governance in the euro area (see the […]
Jean Tirole – an outstanding economist
By Jean-Luc Gaffard Jean Tirole, this year’s winner of the Bank of Sweden’s Prize in Economic Sciences in Memory of Alfred Nobel, is an exceptional […]
Are the macroeconomic forecasts of the central banks better than those of private agents?
By Paul Hubert Private expectations – about inflation, growth and interest rates – are a critical component of most modern macroeconomic models, as they determine […]
The infinite clumsiness of the French budget
By Xavier Timbeau, @XTimbeau In the draft budgetary plan presented to the European Commission on 15 October 2014, it is clear that France fails to […]