The Eurozone crisis is at heart a crisis of failed regional convergence and lack of structural reforms. The euro was supposed to facilitate a rapid convergence in the level of income and, most importantly, of productivity across countries.
Structural reforms and regional convergence
Natasha Xingyuan Che, Antonio Spilimbergo, 11 July 2012
A different country: Russia’s economic resurgence
Lúcio Vinhas de Souza, 13 June 2008
Russia is now once again one of the ten largest economies in the world.1 Moreover, Russia is the third largest EU trade partner and one of its essential energy suppliers. This recovery makes Russia an economic – and political – actor that we cannot ignore.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- 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
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013
Holmes, McGrattan, Prescott
Beck, De Haas, Ongena