Two projects led by CEPR researchers were successful in obtaining grants from the Fondation this year. The successful projects are ‘Bank Ratings and Lending Supply: Evidence from Sovereign Downgrades’, led by CEPR Research Fellow Miguel Ferreira and Manuel Adelino, and ‘Central Bank Communication and Inflation Expectations’, led by CEPR Research Affiliate Michael McMahon.
Youth unemployment has been Europe’s most sensationalised symptom of the Global Recession. It has left the economy with no place for the restless young. But the problem is endemic in Europe – it goes back much further than 2008. Policymakers have prescribed many solutions, none of which has made systemic corrections, not least because of the heterogeneity of the characteristics and policy choices of European economies.
This eBook reviews the policy lessons from recent experiences with the aim of (i) improving the transition from school to work; (ii) fostering the creation of more jobs for young people; and (iii) increasing the wellbeing of youths overall. To do so, it focuses on specific country experiences, ranging from those that have been successful in respect to the above aims to others that have performed much worse. The eBook also looks at the prospects for the recently proposed Youth Guarantee as a new ‘Marshall Plan’ from the European Commission regarding a global solution to youth joblessness.
CEPR, together with Assonime, have set up a new network and started a major research programme aimed at identifying the causes of the investment dearth in Europe. The research involves a broad ranging examination of the financing of the European corporate sector and seeks to distinguish between supply-side and demand-side factors and between cyclical and structural determinants.
Edited by Andrew E. Clark and Claudia Senik, the book compiles contributions by the some of the best-known researchers in happiness economics and development economics, including Richard Easterlin, who gave his name to the 'Easterlin paradox' that GDP growth does not improve happiness over the long run.
The conference – which combined a retrospective on Ireland’s EU-IMF supported program with more forward-looking discussions – aimed to draw lessons for Ireland, the European Union and the IMF, as well as other countries facing similar challenges.
Weak bank lending to the corporate sector, especially small and medium enterprises, and low infrastructure investment are major concerns in Europe.
CEPR, together with Assonime, have set up a new network and started a major research effort aimed at identifying the causes of this investment dearth.
On 19th December, CEPR and the Bank of England hosted a joint workshop to discuss Thomas Piketty’s seminal work ‘Capital in the 21st Century’. Chaired by the Bank’s Chief Economist Andy Haldane, the panel comprised Peter Lindert, Jaume Ventura, Orazio Attanasio and Tim Besley, each of whom presented a paper on inequality and related issues, and Thomas Piketty, who responded to each presenter.
Macroprudentialism is now part of the standard macroeconomic toolkit but it involves a set of relatively untested policies. This new Vox eBook edited by Dirk Schoenmaker collects the thinking of a broad range of leading US and European economists on the matter. A consensus emerges on broad objectives of macroprudential supervision, but important disagreements remain among the authors.
The 16th Global Trade Alert Report, published by CEPR and edited by Simon Evenett of the University of St. Gallen, addresses the impact of protectionist measures introduced since the 2008 global crisis – which it calculates is far higher than previously estimated.