Bruegel

Displaying 1-17 of 17 results

  • White Papers // Feb 2011

    The Fiscal And Monetary Institutions Of CESEE Countries

    This paper aims to identify the major institutional determinants of macroeconomic stability and aggregate budgetary control in Central, Eastern, and South-Eastern European (CESEE) countries. The region grew fast before the crisis, but the crisis hit hard most of these countries harder than any other country group of world and the...

    Provided By Bruegel

  • White Papers // Dec 2010

    EU Financial Regulatory Reform: A Status Report

    The EU regulatory response to the crisis has been generally slower than in the United States, for four main reasons: swifter financial crisis management and resolution in the US; structural differences in legislative processes; the EU's front-loading of institutional reform, most notably the creation of European Supervisory Authorities; and the...

    Provided By Bruegel

  • White Papers // Dec 2010

    Beyond The Crisis: Prospects For Emerging Europe

    Before the crisis, the countries of Central and Eastern Europe, the Caucasus and Central Asia (CEECCA) seemed to be making rapid and reasonably smooth economic progress, following an extraordinarily deep recession after the collapse of the communist regimes. The development model of most CEECCA countries had many common features, such...

    Provided By Bruegel

  • White Papers // Sep 2010

    The Relationship Between Health And Growth: When Lucas Meets Nelson-Phelps

    In recent decades, patent offices around the world have faced a progressive increase in patent filings, which has led to backlogs: ever-growing stocks of applications with longer examination pendency, a situation that supposedly generates uncertainty in the market. This general trend led the largest patent offices to enter into collaborative...

    Provided By Bruegel

  • White Papers // Jul 2010

    The Quality Factor In Patent Systems

    In recent decades, patent offices around the world have faced a progressive increase in patent filings, which has led to backlogs: ever-growing stocks of applications with longer examination pendency, a situation that supposedly generates uncertainty in the market. This general trend led the largest patent offices to enter into collaborative...

    Provided By Bruegel

  • White Papers // Jul 2010

    The Opening Up Of Eastern Europe At 20 - Jobs, Skills, And "Reverse Maquiladoras" In Austria And Germany

    Many people in the European Union fear that eastern enlargement has led to major job losses in 'Old' member states, particularly in Austria and Germany, as the two most important neighbors of the countries that joined the EU in 2004 and 2007. More recently, in Germany, these fears about job...

    Provided By Bruegel

  • White Papers // Jul 2010

    Capital Regulation And Monetary Policy With Fragile Banks

    The financial crisis is producing, among other consequences, a change in perception on the roles of financial regulation and monetary policy. The pre-crisis common wisdom sounded roughly like this. Capital requirements and other prudential instruments were supposed to ensure, at least with high probability, the solvency of individual banks, with...

    Provided By Bruegel

  • White Papers // May 2010

    Assessing The Potential For Knowledge-Based Development In Transition Countries

    Transition countries - those that formerly were within the Soviet Union's political and economic sphere - had on the eve of the crisis much lower GDPs per capita than the EU15 or the United States, despite having higher growth rates. In addition, transition countries exhibited great heterogeneity in their pre-crisis...

    Provided By Bruegel

  • White Papers // Feb 2010

    Monetary Policy And Risk Taking

    The authors combine data evidence and a new DSGE model with banks to examine the links between monetary policy, financial risk and the business cycle. The model includes banks (modelled as in Diamond and Rajan, JF 2000 and JPE 2001) and a financial accelerator (Bernanke et al., 1999 Handbook). A...

    Provided By Bruegel

  • White Papers // Feb 2010

    Financial-Transaction Tax: Small Is Beautiful

    The annual value of financial transactions has increased very rapidly in the past decade, reaching a level about seventy times greater than global GDP. The crisis has dented, but not reversed, this growth while greatly increasing public support for taxing financial transactions. The key question of this paper is: should...

    Provided By Bruegel

  • White Papers // Dec 2009

    Cost-Benefit Analysis Of The Community Patent

    For more than 40 years, governments and professional associations have acted, voted or lobbied against the implementation of the Community Patent (COMPAT). The econometric results and simulations presented in this paper suggest that, thanks to its attractiveness in terms of market size and a sound renewal fee structure, the COMPAT...

    Provided By Bruegel

  • White Papers // Dec 2009

    The Crisis: Policy Lessons And Policy Challenges

    Throughout the 2000s, mainstream economists concurred on an 'Augmented Washington consensus' which was deemed favorable to rapid, stable, non-inflationary growth: light-touch regulation, limited government intervention, rules-based fiscal and monetary policies. The financial crisis that erupted in the summer of 2007 and turned into a sharp, global economic downturn in the...

    Provided By Bruegel

  • White Papers // Oct 2009

    Banking Crisis Management In The EU: An Interim Assessment

    It would certainly not be an overstatement to say that the European Union (EU) was institutionally ill-prepared to manage a financial crisis, especially one involving systemic cross-border institutions. The paper is organized as follows. Section 1 describes the pre-crisis EU banking landscape in terms of both market integration and crisis...

    Provided By Bruegel

  • White Papers // Oct 2009

    More Than One Step To Financial Stability

    The European Union is establishing a framework for safeguarding financial stability, including a new macroprudential supervisor, the European Systemic Risk Board (ESRB), and strengthened microprudential supervision through a European System of Financial Supervision (ESFS). This is a bold step towards a more effective early-warning system for imbalances such as a...

    Provided By Bruegel

  • White Papers // Jul 2009

    The Impact Of The Crisis On Budget Policy In Central And Eastern Europe

    This paper describes the particular impacts of the financial and economic crisis on Central and Eastern European (CEE) countries, studies pro-cyclicality of fiscal policies, discusses the impact of the crisis on fiscal policy, and the policy response of various governments. After drawing some lessons for fiscal policy from previous emerging...

    Provided By Bruegel

  • White Papers // May 2009

    Cyclical Dimensions Of Labour Mobility After EU Enlargement

    This paper explores the influence of the economic cycle on labor mobility within the EU, focusing on the likely impact of the present economic crisis. To do so, the authors use an econometrically calibrated simulation and a case study of Ireland. They find that, in the short run, the crisis...

    Provided By Bruegel

  • White Papers // May 2009

    Reframing The EU Budget Decision-Making Process

    The European Community's policy goals and instruments have been subject to dynamic development in the course of the integration process. The Single Market, Monetary Union, consecutive rounds of enlargement and the Lisbon Strategy are, to mention but a few, highlights of this process. The EU budget has served as a...

    Provided By Bruegel

  • White Papers // Jul 2009

    The Impact Of The Crisis On Budget Policy In Central And Eastern Europe

    This paper describes the particular impacts of the financial and economic crisis on Central and Eastern European (CEE) countries, studies pro-cyclicality of fiscal policies, discusses the impact of the crisis on fiscal policy, and the policy response of various governments. After drawing some lessons for fiscal policy from previous emerging...

    Provided By Bruegel

  • White Papers // May 2009

    Reframing The EU Budget Decision-Making Process

    The European Community's policy goals and instruments have been subject to dynamic development in the course of the integration process. The Single Market, Monetary Union, consecutive rounds of enlargement and the Lisbon Strategy are, to mention but a few, highlights of this process. The EU budget has served as a...

    Provided By Bruegel

  • White Papers // May 2009

    Cyclical Dimensions Of Labour Mobility After EU Enlargement

    This paper explores the influence of the economic cycle on labor mobility within the EU, focusing on the likely impact of the present economic crisis. To do so, the authors use an econometrically calibrated simulation and a case study of Ireland. They find that, in the short run, the crisis...

    Provided By Bruegel

  • White Papers // Feb 2010

    Financial-Transaction Tax: Small Is Beautiful

    The annual value of financial transactions has increased very rapidly in the past decade, reaching a level about seventy times greater than global GDP. The crisis has dented, but not reversed, this growth while greatly increasing public support for taxing financial transactions. The key question of this paper is: should...

    Provided By Bruegel

  • White Papers // Dec 2010

    EU Financial Regulatory Reform: A Status Report

    The EU regulatory response to the crisis has been generally slower than in the United States, for four main reasons: swifter financial crisis management and resolution in the US; structural differences in legislative processes; the EU's front-loading of institutional reform, most notably the creation of European Supervisory Authorities; and the...

    Provided By Bruegel

  • White Papers // Oct 2009

    More Than One Step To Financial Stability

    The European Union is establishing a framework for safeguarding financial stability, including a new macroprudential supervisor, the European Systemic Risk Board (ESRB), and strengthened microprudential supervision through a European System of Financial Supervision (ESFS). This is a bold step towards a more effective early-warning system for imbalances such as a...

    Provided By Bruegel

  • White Papers // Feb 2011

    The Fiscal And Monetary Institutions Of CESEE Countries

    This paper aims to identify the major institutional determinants of macroeconomic stability and aggregate budgetary control in Central, Eastern, and South-Eastern European (CESEE) countries. The region grew fast before the crisis, but the crisis hit hard most of these countries harder than any other country group of world and the...

    Provided By Bruegel

  • White Papers // Dec 2010

    Beyond The Crisis: Prospects For Emerging Europe

    Before the crisis, the countries of Central and Eastern Europe, the Caucasus and Central Asia (CEECCA) seemed to be making rapid and reasonably smooth economic progress, following an extraordinarily deep recession after the collapse of the communist regimes. The development model of most CEECCA countries had many common features, such...

    Provided By Bruegel

  • White Papers // Sep 2010

    The Relationship Between Health And Growth: When Lucas Meets Nelson-Phelps

    In recent decades, patent offices around the world have faced a progressive increase in patent filings, which has led to backlogs: ever-growing stocks of applications with longer examination pendency, a situation that supposedly generates uncertainty in the market. This general trend led the largest patent offices to enter into collaborative...

    Provided By Bruegel

  • White Papers // Jul 2010

    The Quality Factor In Patent Systems

    In recent decades, patent offices around the world have faced a progressive increase in patent filings, which has led to backlogs: ever-growing stocks of applications with longer examination pendency, a situation that supposedly generates uncertainty in the market. This general trend led the largest patent offices to enter into collaborative...

    Provided By Bruegel

  • White Papers // Jul 2010

    The Opening Up Of Eastern Europe At 20 - Jobs, Skills, And "Reverse Maquiladoras" In Austria And Germany

    Many people in the European Union fear that eastern enlargement has led to major job losses in 'Old' member states, particularly in Austria and Germany, as the two most important neighbors of the countries that joined the EU in 2004 and 2007. More recently, in Germany, these fears about job...

    Provided By Bruegel

  • White Papers // May 2010

    Assessing The Potential For Knowledge-Based Development In Transition Countries

    Transition countries - those that formerly were within the Soviet Union's political and economic sphere - had on the eve of the crisis much lower GDPs per capita than the EU15 or the United States, despite having higher growth rates. In addition, transition countries exhibited great heterogeneity in their pre-crisis...

    Provided By Bruegel

  • White Papers // Feb 2010

    Monetary Policy And Risk Taking

    The authors combine data evidence and a new DSGE model with banks to examine the links between monetary policy, financial risk and the business cycle. The model includes banks (modelled as in Diamond and Rajan, JF 2000 and JPE 2001) and a financial accelerator (Bernanke et al., 1999 Handbook). A...

    Provided By Bruegel

  • White Papers // Dec 2009

    Cost-Benefit Analysis Of The Community Patent

    For more than 40 years, governments and professional associations have acted, voted or lobbied against the implementation of the Community Patent (COMPAT). The econometric results and simulations presented in this paper suggest that, thanks to its attractiveness in terms of market size and a sound renewal fee structure, the COMPAT...

    Provided By Bruegel

  • White Papers // Oct 2009

    Banking Crisis Management In The EU: An Interim Assessment

    It would certainly not be an overstatement to say that the European Union (EU) was institutionally ill-prepared to manage a financial crisis, especially one involving systemic cross-border institutions. The paper is organized as follows. Section 1 describes the pre-crisis EU banking landscape in terms of both market integration and crisis...

    Provided By Bruegel

  • White Papers // Dec 2009

    The Crisis: Policy Lessons And Policy Challenges

    Throughout the 2000s, mainstream economists concurred on an 'Augmented Washington consensus' which was deemed favorable to rapid, stable, non-inflationary growth: light-touch regulation, limited government intervention, rules-based fiscal and monetary policies. The financial crisis that erupted in the summer of 2007 and turned into a sharp, global economic downturn in the...

    Provided By Bruegel

  • White Papers // Jul 2010

    Capital Regulation And Monetary Policy With Fragile Banks

    The financial crisis is producing, among other consequences, a change in perception on the roles of financial regulation and monetary policy. The pre-crisis common wisdom sounded roughly like this. Capital requirements and other prudential instruments were supposed to ensure, at least with high probability, the solvency of individual banks, with...

    Provided By Bruegel