Public debt: Central banks to the rescue?
By Christophe Blot and Paul Hubert In response to the health and economic crisis, governments have implemented numerous emergency measures that have pushed public debt up […]
Monetary policy
What more could the central banks do to deal with the crisis?
By Christophe Blot and Paul Hubert The return of new lockdown measures in numerous countries is expected to slow the pace of economic recovery and even lead […]
Europe’s recovery plan: Watch out for inconsistency!
by Jérôme Creel (OFCE & ESCP Business School) [1] On 27 May, the European Commission proposed the creation of a new financial instrument, Next Generation EU, endowed […]
How to spend it: A proposal for a European Covid-19 recovery programme
Jérôme Creel, Mario Holzner, Francesco Saraceno, Andrew Watt and Jérôme Wittwer[1] The Recovery Fund recently proposed by the EU Commission marks a sea-change in European […]
It seems like it’s raining billions
Jérôme Creel, Xavier Ragot, and Francesco Saraceno The second meeting of the Eurogroup did the trick. The Ministers of Finance, after having once again laid out […]
What do the fiscal stimulus strategies in the United States and Europe reveal?
By Christophe Blot and Xavier Timbeau In parallel with the decisions taken by the US Federal Reserve and the European Central Bank (ECB), governments are […]
The transmission of monetary policy: The constraints on real estate loans are significant!
By Fergus Cumming (Bank of England) and Paul Hubert (Sciences Po – OFCE, France) Does the transmission of monetary policy depend on the state of […]
Europe’s fiscal rules – up for debate
By Pierre Aldama and Jérôme Creel At the euro zone summit in December 2018, the heads of state and government hit the brakes hard on […]
The euro is 20 – time to grow up
By Jérôme Creel and Francesco Saraceno [1] At age twenty, the euro has gone through a difficult adolescence. The success of the euro has not been aided […]
Italy’s debt: Is the bark worse than the bite?
By Céline Antonin The spectre of a sovereign debt crisis in Italy is rattling the euro zone. Since Matteo Salvini and Luigi di Maio came […]