The aim of the prospective banking union is to foster financial stability in Europe. The euro sovereign debt crisis has shown that financial stability cannot be managed effectively at the national level, because of the diabolic loop between national governments and banks (Alter and Schüler 2012).
Winners of a European banking union
Dirk Schoenmaker, Arjen Siegmann, 27 February 2013
Fiscal consolidation in Sweden: A role model?
Martin Flodén, 25 September 2012
Twenty years ago, in September 1992, the Swedish central bank raised its policy rate to 500% in an attempt to defend the fixed exchange rate during the European currency crisis. The Swedish economy was then already in the midst of a severe economic crisis.
The curse of advanced economies in resolving banking crises
Luc Laeven, Fabian Valencia, 9 July 2012
Countries typically resort to a mix of policies to contain and resolve banking crises, ranging from macroeconomic stabilisation to financial sector restructuring policies and institutional reforms. However, despite many commonalities in the origins of crises (Reinhart and Rogoff 2009), existing crisis management strategies have been met with mixed success.
What can Europe learn from Sweden? Four lessons for fiscal discipline
Lars Calmfors, 12 March 2012
Several Eurozone countries are currently struggling with acute fiscal crises (eg Corsetti and Müller 2012). At the same time, the new fiscal compact is an attempt to beef up fiscal frameworks for the future.
Can education policy be used to fight crime?
Randi Hjalmarsson, Helena Holmlund, Matthew Lindquist, 29 November 2011
How should society fight crime? Should we adopt tough-on-crime policies that increase monitoring and lengthen prison sentences? Or should we adopt a softer strategy aimed at alleviating poverty and combating discrimination?
The importance of exports and services trade re-evaluated
Henrik Isakson, 25 June 2011
It took some time before the concept of vertical specialisation, coined by Hummels, Ishii, and Yi in 2001, reached a broader non-academic audience. Estimating the import content of exports was not something that bothered policymakers. Today however, this formerly academic exercise is at the core of the debate in the trade policy community.
Should the Eurozone enlarge?
Kari EO Alho, 5 June 2011
The title question may look odd in the midst of a severe crisis. It is much more common to ask whether some Eurozone members should leave.
Should Sweden join the Eurozone?
J James Reade, Ulrich Volz, 8 September 2009
The Swedish euro debate disappeared following the negative outcome of the 2003 referendum, but the current global financial crisis has revived euro deliberations in Sweden.
Sweden as a useful model of successful financial crisis resolution
Emre Ergungor, Kent Cherny, 19 March 2009
Governments of the world’s rich nations are clearly in need of positive examples of how to fix broken banking sectors. While we have many such examples from the last century (Caprio, Hunter, Kaufman, and Leipziger 1998), one of the most recent is the Swedish crisis.
Financial crisis resolution: It’s all about burden-sharing
Charles Wyplosz, 20 July 2008
An old and familiar debate is back. Should taxpayers bail out the US banking system, quite possibly the British and European ones as well?
There are two standard views on the multi-trillion dollar question of who pays for getting us out of the financial crisis
- The case for 4% inflationBall
- Helicopter money as a policy optionReichlin, Turner, Woodford
- The banking crisis as a giant carry trade gone wrongAcharya, Steffen
- Everything the IMF wanted to know about financial regulation and wasn’t afraid to askBair
- Rethinking macroeconomic policy: Getting granularBlanchard, Dell'Ariccia, Mauro
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Baldwin, Kawai, Wignaraja, 11 June 2013
Giavazzi, Portes, Weder di Mauro, Wyplosz