Search

Begin New Search Topic Markets Political Geography Europe

101. Caspian Gas, TANAP and TAP in Europe's Energy Security

Author:
Ariel Cohen
Publication Date:
04-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Russia's occupation of the Crimea and possible incorporation of Eastern Ukrainian regions demonstrated Europe's vulnerability to Gazprom's energy power. Whatever the EU's reactions, diversification of energy supply to diminish Russia's market share is likely to be one of them. TAP is one step towards the strategic goal of diminishing Gazprom's huge presence in Europe. But in view of the proposed construction of the Russian South Stream, how could Central Europe, and especially Bulgaria, Romania, Austria and Lithuania, ensure energy diversification? What next for the Southern Corridor? Is Russia going to accept and tolerate infrastructure growth of the Caspian and other competitors south of its borders?
Topic:
Economics, Energy Policy, and Markets
Political Geography:
Russia, Europe, Lithuania, Bulgaria, Romania, and Austria

102. Disappearing government bond spreads in the eurozone — Back to normal?

Author:
Paul De Grauwe and Yuemei Ji
Publication Date:
05-2014
Content Type:
Working Paper
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
Since the announcement of the Outright Monetary Transactions (OMT) programme by Mario Draghi, President of the ECB, in 2012, the government bond spreads began a strong decline. This paper finds that most of this decline is due to the positive market sentiments that the OMT programme has triggered and is not related to underlying fundamentals, such as the debt-to-GDP ratios or the external debt position that have continued to increase in most countries. The authors even argue that the market's euphoria may have gone too far in taking into account the same market fundamentals. They conclude with some thoughts about the future governance of the OMT programme.
Topic:
Economics, International Trade and Finance, and Markets
Political Geography:
Europe

103. The Weightless Marketplace: Coming to Terms with Innovative Payment Systems, Digital Currencies and Online Labor Markets

Author:
David Bollier
Publication Date:
04-2014
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
The structure and character of commerce has changed dramatically since the arrival of the World Wide Web and various digital technologies, particularly mobile phones and large, interconnected databases. Consumers now have much greater market power and choice. Markets can more easily scale, often globally. Co-production and fluid producer/consumer interactions are routine. Transactions themselves have become far cheaper and more easily consummated.
Topic:
Foreign Exchange, International Trade and Finance, Markets, Science and Technology, Communications, and Monetary Policy
Political Geography:
United States and Europe

104. The State-owned Enterprises Issue in China's Prospective Trade Negotiations

Author:
John Whalley and Hejing Chen
Publication Date:
10-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
China, in the next few years, faces the prospect of major regional and bilateral trade negotiations possibly including the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership with the Association of Southeast Asian Nations (ASEAN) and Japan, Korea, India, Australia and New Zealand and separate negotiations with India, Korea and Japan, potentially the United States and even possibly the European Union. A likely key element in such negotiations, and one already raised by the United States in the TPP negotiations, is that of trade arrangements involving state-owned enterprises (SOEs). China is viewed from outside as having a large SOE sector, and large SOEs are viewed as having a protected monopoly position in domestic Chinese markets.
Topic:
International Trade and Finance, Markets, and World Trade Organization
Political Geography:
Japan, China, Europe, India, Asia, Australia, and Korea

105. Reforming the Global Architecture of Financial Regulation: The G20, the IMF and the FSB

Author:
Malcolm D. Knight
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
The global financial crisis that began in 2007 and deepened in 2008 exposed major weaknesses in financial and macroeconomic policy coordination, and profound flaws in financial risk management and regulation in a number of advanced countries. The severity of the crisis led global leaders to recognize that they must find a way to reform the global regulatory architecture to ensure that the financial system can absorb shocks while continuing to function efficiently.
Topic:
International Trade and Finance, Markets, International Monetary Fund, Financial Crisis, and Reform
Political Geography:
United States, United Kingdom, and Europe

106. European Banking Union: An Immediate Tool for Euro Crisis Management and a Long-Term Project for the Single Market

Author:
Giulia Rosa Maria Cavallo
Publication Date:
10-2014
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
After the adoption of a single monetary policy which commits the European Central Bank to maintaining the euro's purchasing power and price stability in the Eurozone, the European Union is facing a new, but equally fundamental challenge: the implementation in a relatively short time of the so-called "Banking Union". Its purpose is twofold: (1) breaking the link between banking and sovereign risk, with the ultimate goal of achieving full protection of EU savers in the event of a crisis; and (2) ensuring uniformity of credit conditions - which are still too fragmented - within the European banking market, to ensure greater EU integration of the financial system. Starting from the Communication in which the European Commission stressed the need for a banking union, this paper intends to explore the complex process towards its establishment by looking at the EU institutional mechanisms and the legal aspects. In particular, the analysis will be based on two building blocks: (1) the Single Supervisory Mechanism, with a single supervisor at the heart of the banking union; and (2) the Single Resolution Mechanism as a new integrated resolution framework and a resolution fund to address the failure of banking institutions. The paper then assesses the next steps for a fully fledged banking union, necessary in order for this new instrument to lay the foundations for a genuine Economic and Monetary Union, thereby fostering financial and economic stability in the euro area and in the EU as a whole.
Topic:
Economics, Markets, Monetary Policy, and Financial Crisis
Political Geography:
Europe

107. Completing Europe: From the North-South Corridor to Energy, Transportation, and Telecommunications Union

Publication Date:
11-2014
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
One of the greatest successes of our new century has been the progress made in unifying Europe. The accession of Central Europe's countries to the European Union (EU) has contributed to the end of division that wrought confrontations and conflicts. Yet this task is far from finished. Europe's economic woes, as well as new security challenges along the Union's eastern border add to the urgency of completing and consolidating the European integration project as part of our transatlantic vision of a Europe whole, free, and at peace.
Topic:
Markets, Communications, and Infrastructure
Political Geography:
Europe

108. Who to watch in the World Cup — Barbados' Crop Over Festival — 10 Things to do in Manaus — Baltimore's pop-up farmers market. (slideshows available.)

Publication Date:
04-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
World Cup Update Following the 2014 World Cup? Read more coverage here. With preparations for the 2014 FIFA World Cup nearing completion, soccer fans across the region can turn their attention to what really matters: their national team's chances of winning on the world's biggest stage. Although European teams have won four of the last six competitions, South American teams have historically fared far better when playing at home. The World Cup draw last December placed the 32 qualifying teams in eight groups of four. From June 12 to June 26, each team will play the other teams in its group in a round- robin format. The top two teams from each group will advance to the elimination round. Not all groups are created equal, so here are some predictions for the hemisphere's 10 qualifying teams.
Topic:
Development and Markets
Political Geography:
Europe, Brazil, and South America

109. Labor Market Slack in the United Kingdom

Author:
David G. Blanchflower and David N. F. Bell
Publication Date:
07-2014
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
This paper examines the amount of slack in the UK labor market and finds the downward adjustments made by the Monetary Policy Committee (MPC) to both unemployment and underemployment invalid. Without evidence to support its assessment of the output gap, the MPC reduces the level of unemployment based on its claim that long-term unemployment does not affect wages. The authors produce evidence to the contrary and present arguments on why the MPC's halving of the level of underemployment in the United Kingdom is inappropriate. Bell and Blanchflower set out arguments on why they believe the level of slack is greater than the MPC calibrates. Consistent with that is the fact that real wages in the United Kingdom continue to fall.
Topic:
Economics, Markets, and Labor Issues
Political Geography:
United Kingdom and Europe

110. Future scenarios for the development of the European labour force

Author:
Anna Ruzik-Sierdzińska
Publication Date:
02-2014
Content Type:
Policy Brief
Institution:
Center for Social and Economic Research - CASE
Abstract:
The future size and quality of the European labour force are important production factors for future economic growth in the region. The performance of many systems such as social security and health depends on the population of future potential tax payers. Older workers are an important and increasing share of the employment in Europe. Due to lower fertility and longer life expectancy, today, a larger than ever share of the population is over 50. Eurostat projections show that the share of people between the ages of 50 and 74 in the population aged 20-74 will increase in the EU27 countries from the current 40 per cent to 47 per cent in 2050. However, countries differ in terms of elderly activity. Existing studies show that this is related to various factors, including labour market institutions. As demographic ageing is expected to continue in the future, it is important to know more about these factors in order to recommend policies that could be efficient for the development of future labour markets and the economy as a whole. The aim of the described part of the project was to assess the impact of ageing on the labour market, especially on the structure of the labour force and labour productivity. We looked at this from various angles. First, we examined it via the determinants of the transition from work to retirement (see: Riedel and Hofer, 2013) with a broader analysis of non-labour market activities at older ages (Styczyńska et al., 2013). Then, we tried to answer the question about how individual productivity changes with age in different countries and if lifelong learning can contribute to higher labour productivity in the future (Ruzik-Sierdzińska et al., 2013). Finally, we looked at the demand for labour in the perspective of ageing societies, i.e. at employers' policies, attitudes and behaviours towards older workers and retirement (van Dalen et al., 2013).
Topic:
Demographics, Markets, Labor Issues, Social Policy, Public Policy, and Aging
Political Geography:
Europe, Central Asia, Caucasus, Eastern Europe, and European Union