The sovereign debt crisis exposed weaknesses in the Eurozone’s financial architecture that may not have been fully anticipated when the founding treaties of the Eurozone were drafted. Key among these weak spots are the provisions of the Treaty of Lisbon which regulate intergovernmental debt obligations and preclude direct financing of sovereigns by the ECB.
Joint liability in international lending: A proposal for amending the Treaty of Lisbon
Kaushik Basu, Joseph Stiglitz, 2 January 2014
Further thoughts on the Irish referendum
Kevin Hjortshøj O’Rourke, 26 June 2008
Thanks to two opinion polls which were commissioned in a hurry after the Irish rejection of the Lisbon Treaty, we now know a little bit more about the profiles of those who voted yes and no on June 12.
Europe Was Going Too Far
Alberto Alesina, Romain Wacziarg, 22 June 2008
On June 12, the Irish people dealt yet another blow to European political integration. While many European leaders and commentators despair at the Irish rejection of the Lisbon Treaty, they should see it as an opportunity to reflect upon what is wrong with the process of European political integration.
Lisbon Treaty: Democracy vs efficiency?
Sara Hagemann, 21 June 2008
The Irish “no” and the rich-poor/urban-rural divide
Kevin Hjortshøj O’Rourke, 14 June 2008
Like many of my compatriots, I spent Friday evening in a pub. In my case the pub was in the heart of France’s beautiful Chartreuse region, and it was full to the brim of French and Dutch football supporters, the latter increasingly rambunctious as the evening wore on.
- 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
DellaVigna, Durante, Knight, La Ferrara
Ostry, Berg, Tsangarides
Allen, Eichengreen, Evans
Greenwood, Guner, Kocharakov, Santos
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