Euro area reform and democratic legitimacy
Stefano Micossi discusses the European Commission’s orientations for a revised economic governance in the EU
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MACROECONOMICS
Examining how the overall economy—the markets, businesses, consumers, and governments—behave, focusing on long-term economic growth and shorter-term business cycles
Time to step up policy coordination in the euro area
The euro area economy has shown impressive resilience. Nevertheless, Reinhard Felke and Nicolas Philiponnet argue that policymakers should sustain vigilance and action
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Headwinds persist, but EU economy is set to escape recession
Maarten Verwey and Oliver Dieckmann discuss the Commission’s Winter 2023 Economic Forecast and describe how the EU economy is set to escape recession
Headwinds persist, but EU economy is set to escape recession Read More »
Lending and market making as a last resort
Willem Buiter, Stephen Cecchetti, Kathryn Dominguez and Antonio Sánchez Serrano summarise central bank policy frameworks used when stabilising financial markets
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Ukraine’s needed post-war institutional changes
Tymofiy Mylovanov and Gerard Roland argue that Ukraine must strive to become a full-fledged liberal democracy
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By acting swiftly now we can prevent a Volcker shock
Olli Rehn discusses the ECB handling of interest rates, and believes that a highly restrictive monetary policy shock can be avoided in the future
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Central bank independence and the mandate—evolving views
Jerome Powell makes a strong case for limited independence within a democratic framework, warning against a central bank widening its remit and scope too far
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Central banks are facing an epic battle
Where next for inflation, interest rates and economic growth? Steve Schifferes believes that fears of a 1970s-style stagflation could become a reality
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A response to criticisms of proposals to overhaul the EU fiscal framework
The European Commission has proposed an important and ambitious overhaul of EU fiscal rules. Marco Buti, Jakob Friis and Roberta Torre respond to the criticism
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Monetary policies that do not subsidise banks
Paul De Grauwe and Yuemei Ji argue that a better policy would avoid transferring central bank profits to commercial banks
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