EMU Monitor
Give banks some credit for taking risks
26.09.2007
By: Patrick Minford, Cardiff University
At some point the dirty linen on bank balance sheets will all be hung out to dry and priced into their shares; at that point the crisis will be over.
Thanks Tito and Luigi, but no thanks!
05.09.2007
By: Alan Ahearne, Bruegel and NUI Galway
Why Greenspan’s interest policy is not to blame for the current crisis.
Why the ECB should look at M2
12.08.2007
By: Georg Rich, Rich International Consulting
There is some econometric evidence for the demand for M2 to be more stable than demand for M3.
The German Economy: Be Careful What You Ask For
10.07.2007
By: Barry Eichengreen, University of California, Berkeley
Germany's problem is the failure to recognize that industry and prosperity are no longer synonymous.
Wake-up call for the ECB
02.07.2007
By: Charles Wyplosz, Graduate Institute of International Studies
For its own good, and for the benefits of the Euro area citizens, the ECB ought to change its public communication strategy.
France's fiscal follies
15.06.2007
By: André Sapir, Université Libre de Bruxelles
Why Commissioner Almunia is right to urge France to stick to its commitment under the SGP.
A picture is worth a thousand words
05.06.2007
By: Paul De Grauwe, K.U. Leuven
Is the growth rate of money a good signal of future inflation? Sometimes it is useful to look at a picture. A picture is worth one thousand words, they say.
The Economic Consequences of Mr S.
07.05.2007
By: Jean Pisani-Ferry, Bruegel
In the aftermath of Nicolas Sarkozy’s resounding electoral victory, the three main questions are: Has he won a mandate for change? Which policies will he give priority to? And what will be the consequences for Europe?
Banks as hedge funds and hedge funds as banks
02.05.2007
By: Casper de Vries, Erasmus University Rotterdam
Since the demise of LTCM, supervisors are worried about the systemic risk of the hedge fund industry for the banking sector. This worry seems misplaced as, if anything, the banking sector is the more risky of the two industries.
Why Europe will not decouple from the US
17.04.2007
By: Alan Ahearne, Bruegel and NUI Galway
Rightly, or wrongly, business leaders around the world see the US as a locomotive for the global economy. Until we see more internal dynamism in the euro area those perceptions are unlikely to change.
Why the ECB is inconsistent
04.04.2007
By: Patrick Minford, Cardiff University
Michael Woodford proclaimed that the ECB's money pillar is redundant and misleading. Patrick Minford explains why Woodford has a point.
Why the ECB is still opaque
09.03.2007
By: Juergen von Hagen, University of Bonn
The only plausible explanation for the yesterday's rate rise is that the ECB wants to assure that there is no base drift in the price level over the longer term. If this is what the central bank wants to do, it does not explain its intentions well.
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