Economics
The crisis in the euro area is long and painful, and progress towards its resolution is not proceeding in a linear way. The problem by now has been well-diagnosed. The euro was put in place without the proper institutions to support it. A monetary union needs a fiscal union pillar, a financial stability pillar and…
Economics
Last week Prof. Núria Mas described Abenomics: the economic ...
Economics
In recent months, Japan – the world´s third largest economy - has returned to center stage. On April 4, Japan embarked on a daring economic experiment. After two decades of stagnant growth and deflation, Prime Minister Shinzo Abe presented a “three arrow” program: Monetary stimulus to end deflation – the Bank of Japan launched the largest…
Economics
Economists have been in great demand since the beginning of the crisis. This, by the way, was a welcome change, since in the preceding years, those that are now called ‘The Great Moderation’, people did not know what to do with us. We went on, year after year, drawing the same diagrams on the blackboard,…