Tax evasion and austerity-plan failure

Francesco Pappadà, Yanos Zylberberg, 3 February 2014

a

A

Austerity plans in southern European countries (Greece, Portugal, Spain, and Italy) have so far yielded mixed results (Salto 2013). On the one hand, the primary budget balances of these countries have improved, and their risk premiums are now stabilised at a much lower level than during the crisis peak.

Topics: Financial markets, Taxation
Tags: austerity, credit, European sovereign debt crisis, Greece, tax evasion, transparency, VAT

European merger policy reform

Tomaso Duso, Klaus Gugler, Florian Szücs, 26 January 2014

a

A

In May 2004, the legal basis for merger evaluation in the EU was substantially revised. By then, it was apparent that the old legislation – which first came into force in 1989 – was lacking in a number of ways.

Topics: Competition policy, EU policies
Tags: Competition policy, deterrence, dominance, EU, merger policy, mergers, mergers and acquisitions, transparency

The new sustainability factor of the public pension system in Spain

Rafael Doménech, Víctor Pérez-Díaz, 11 December 2013

a

A

As in many other European countries, long-term trends in population growth and life expectancy in Spain make the current pay-as-you-go pension system unsustainable. A later baby boom and a recent immigration wave help explain why Spain has postponed the implementation of reforms already introduced in other European countries in the 1990s (see, for example, Chapter 1 of OECD 2012).

Topics: Europe's nations and regions, Welfare state and social Europe
Tags: accountability, democracy, pensions, Spain, Sustainability, transparency

The determinants of banks’ liquidity buffers and the role of liquidity regulation

Clemens Bonner, Iman van Lelyveld, Robert Zymek, 1 November 2013

a

A

Until recently, liquidity risk was not the main focus of banking regulators. However, the 2007–2009 crisis showed how rapidly market conditions can change, exposing severe liquidity risks for some institutions. Although capital buffers were effective in reducing liquidity stress to some extent, they were not always sufficient.

Topics: Financial markets, Microeconomic regulation
Tags: banking, disclosure, liquidity, regulation, Too big to fail, transparency

Disclosure, transparency, and market discipline

Xavier Freixas, Christian Laux, 17 April 2012

a

A

Topics: Global crisis, International finance
Tags: disclosure, financial regulation, global crisis, Market discipline, transparency

Federal Open Market Committee forecasts: Guesses or guidance?

Peter Tillmann, 23 February 2012

a

A

 

Topics: Macroeconomic policy, Monetary policy
Tags: Federal Open Market Committee, Federal Reserve, forecasting, inflation, monetary policy, transparency

Looking beyond the incumbent: The effects of exposing corruption on electoral outcomes

Ana De La O, Alberto Chong, Dean Karlan, Léonard Wantchékon, 23 January 2012

Vox readers can download CEPR Discussion Paper 8790 for free here

Journalists are entitled to free DP downloads on request; please contact pressoffice@cepr.org. To learn more about subscribing to CEPR's Discussion Paper Series, please visit the CEPR website.

URL: http://www.cepr.org/DP8790
Topics: Development, Politics and economics
Tags: accountability, Corruption, democracy, elections, Information, transparency

Central banks’ voting records and future policy

Kateřina Šmídková, Jan Zapal, Roman Horváth, 13 November 2011

a

A

Monetary-policy transparency has several dimensions, such as volume, quality, and timeliness of disclosed information. Transparency-cautious central banks typically release the voting records from monetary-policy meetings together with the minutes.

Topics: Macroeconomic policy, Monetary policy
Tags: Central Banks, monetary policy, transparency

The damaged ECB legitimacy

Anne Sibert, 15 September 2011

a

A

The ECB’s role has evolved in its decade-long existence. In this note I describe how the choices of the ECB have damaged the institution’s legitimacy.

Topics: EU policies, Europe's nations and regions, Global crisis, Institutions and economics
Tags: ECB, Eurozone crisis, transparency

Drawing a line under Europe’s crisis

Barry Eichengreen, 17 June 2010

a

A

Financial crises feed on uncertainty. The longer uncertainty is allowed to linger, the greater the damage to confidence and the more difficult it becomes to repair. It is essential therefore that European policymakers move decisively to draw a line under the crisis.

Topics: EU institutions
Tags: Eurozone crisis, Eurozone rescue, transparency, uncertainty

Vox eBooks

CEPR Policy Research