Category Archives: voxEU

Helicopter money | vox


  Stephen Grenville, 24 February 2013 Ideas about ‘printing money’ and ‘helicopter money’ are in vogue. This column unpacks these misleading terms and explores what quantitative easing and Overt Monetary Finance might mean for the deficit. The case for Overt … Continue reading

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Karl Whelan, © voxEU.org: Golden rule or golden straightjacket?


Golden rule or golden straightjacket?, Karl Whelan, © voxEU.org: Europe’s Fiscal Compact is being widely sold as the essence of prudent fiscal management. But this column argues that the rules in the Fiscal Compact severely restrict a country’s ability to … Continue reading

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Gianluca Cafiso, © voxEU.org: Understanding Eurozone debt developments by nation


Understanding Eurozone debt developments by nation, Gianluca Cafiso, © voxEU.org: 2011 was the year the Eurozone began to buckle. The weight of debt taken on following the global financial crisis two years earlier proved too much for some member countries. This … Continue reading

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Paul De Grauwe © voxEU.org: Why the ECB refuses to be a Lender of Last Resort


Why the ECB refuses to be a Lender of Last Resort, Paul De Grauwe © voxEU.org: The euro has a matter of weeks to save itself, with several institutions now preparing for its collapse. Given this, why does the ECB … Continue reading

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© voxEU.org: Supply-side policies and the zero lower bound


Supply-side policies and the zero lower bound, © voxEU.org: Jesús Fernández-Villaverde Juan F Rubio-Ramirez 11 November 2011 With nominal interest rates in many western countries at or approaching the zero lower bound, economists are calling for more quantitative easing or … Continue reading

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Giancarlo Corsetti © voxEU.org: The ‘original sin’ in the Eurozone


The ‘original sin’ in the Eurozone, Giancarlo Corsetti © voxEU.org: Eurozone membership seemed to shield economies with structural problems from the “original sin” – the obligation to borrow in foreign currency while the ability to pay is in domestic currency. … Continue reading

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Richard Baldwin © voxEU.org: EZ rescue or recession


EZ rescue or recession: Fallout of the October 2011 package, Richard Baldwin © voxEU.org: Markets loved the EZ rescue. This column argues that it was short-term good news in that it defused ‘the bomb’ – the possible catastrophe vortex of … Continue reading

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Paul De Grauwe © voxEU.org: European summits in ivory towers


European summits in ivory towers, Paul De Grauwe © voxEU.org: The Eurozone crisis plays on to a familiar tune. Finance ministers meet on the weekend only for markets to dismiss their efforts the following Monday. This column argues that Europe’s leaders … Continue reading

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