US federal courts have ruled that Argentina is prohibited from making payments to fulfil 2005 and 2010 agreements with its creditors to restructure its debt, so long as it is not also paying the few creditors that have all along been holdouts from those agreements.
It takes more than two to tango: Cry, but not for Argentina, nor for the holdouts
Jeffrey Frankel, 22 July 2014
The Transatlantic Trade and Investment Partnership: Review of the debate on economic blogs
David Saha, 20 July 2014
A study by the Centre for Economic Policy Research (CEPR 2013) for the European Commission models the effects of the Transatlantic Trade and Investment Partnership (TTIP) in a computable general equilibrium model.
Why the US and EU are failing to set information free
Susan Ariel Aaronson, 14 July 2014
Tim Berners-Lee, the architect of the World Wide Web, taught us that the internet we have is a function of the choices we (users, companies, policymakers, etc.) make about information flows. For example, in 1995, Berners-Lee chose not to patent his work on the World Wide Web because he feared patenting it could limit its universality and openness. He continues to advocate this.
Topics: EU policies, Global governance, International trade
Tags: data protection, EU, free trade agreements, Human rights, Information, information technology, internet, national security, privacy, technology, trade, US, WTO
Lessons from the financial preparations in the lead-up to the first world war
Harold James, 9 July 2014
The 1907 panic emanated from the US but affected the rest of the world and demonstrated the fragility of the whole international financial order. The aftermath of the 1907 crash drove the then hegemonic power – Great Britain – to reflect on how it could use its financial power.
Jayant Menon, 1 July 2014
Why is the Trans-Pacific Partnership (TPP) taking so long to conclude? It has already missed three deadlines, the latest October 2013. And President Barrack Obama’s recent Asia visit did not produce the widely anticipated push towards the finish line. Delays aside, the other big question is what the TPP will look like when finally concluded (Winters 2014)?
Culture: Persistence and evolution
Francesco Giavazzi, Ivan Petkov, Fabio Schiantarelli, 16 June 2014
Are a person’s values and beliefs persistent, or do they evolve – possibly rather quickly – in response to the economic and institutional environment? This is a central question, for instance, if one is interested in assessing the likelihood of success of reforms that change rules within a country.
Net neutrality: A simple goal with some difficult implementation ahead
Joshua Gans, 11 June 2014
Net neutrality has a simple goal – to ensure that consumers face an undistorted choice in choosing where to devote their attention on the Internet. The rationale for that goal is to ensure a ‘level playing field’ for those who provide content, applications, or anything else via the Internet.
Topics: Competition policy, Industrial organisation, Microeconomic regulation
Tags: Federal Communications Commission, internet, market power, net neutrality, price discrimination, regulation, technology, US
How highly educated immigrants raise native wages
Giovanni Peri, Kevin Shih, Chad Sparber, 29 May 2014
Immigration to the US has risen tremendously in recent decades. Though media attention and popular discourse often focus on illegal immigrants or the high foreign-born presence among less-educated workers, the data show that immigrants are drawn from both ends of the education spectrum.
The problem with TTIP
L Alan Winters, 22 May 2014
Much attention has been focused on the Trans-Atlantic Trade and Investment Partnership (TTIP) that the EU is currently negotiating with the US. Most economists cheer this development, but I regret it – it is a pity that it has emerged.
Falling real wages in the UK
David Blanchflower, Stephen Machin, 12 May 2014
There have been unprecedented falls in real wages in the UK since the start of the recession triggered by the financial crisis of 2008. This did not happen in previous economic downturns – median real wage growth slowed down or stalled, but it did not fall.
- 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
Cadot, de Melo, 16 June 2014
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- The economics of Scottish independence in an interdependent worldHughes Hallett
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- Corporate Finance Theory Symposium19 - 20 September 2014 / Cambridge / Judge Business School, Cambridge University
- International Trade, Finance, and Macroeconomics: Research Frontiers and Challenges for Policy18 - 19 December 2014 / The Bank of England, London / The Bank of England, Centre for Macroeconomics and CEPR