Macroeconomics & the euro
Can the euro rival the dollar?
04 December 2018
The international role of the US dollar is deeply entrenched. To change that, Europe – and Germany in particular – would need to rethink some core economic policies.
Macron, Merkel and the future of the euro
24 May 2017
Emmanuel Macron wants to change the way the eurozone is run. But can he persuade Angela Merkel?
Brexiting Swiss-style: The best possible UK-EU trade deal
24 April 2017
The softest form of hard Brexit that is plausible – given the red lines of the 27 and Britain – is something like Switzerland's deal with the EU.
Is the EU's single market leading to convergence or divergence?
04 April 2017
The single market's 'agglomeration effects' – the tendency of wealthier areas to attract capital and skills – seem as strong as the 'catch-up effects' of poorer members importing capital and expertise.
Can Martin Schulz beat Angela Merkel?
20 March 2017
A chancellor Schulz would be good news for the eurozone economy. But he would not differ much from Merkel on Brexit.
Crisis of capitalism? Perhaps, but don't blame it on globalisation
10 February 2017
Globalisation did not force governments to adopt policies that divided their countries, exacerbated inequality and hit social mobility. Many of them did those things by choice.
Europe's make-or-break country: What is wrong with Italy's economy?
19 December 2016
Italy's economic problems are a threat to the eurozone and the EU as a whole. While the euro has not helped Italy, its problems are mainly homegrown.
Can the eurozone shake off the global gloom?
22 January 2016
The global economy has shifted from being the potential saviour of the eurozone economy to an additional source of uncertainty for it.
Brexit and the economics of populism
12 December 2016
Inequality, insecurity and a nativist backlash against immigration all help to explain the rise of populism. But globalisation does not prevent governments from addressing these problems.
Brexit will make Britain's mediocre economic record worse
19 September 2016
Britain is already an average economic performer by Western European standards. Brexit will further sap its economic dynamism and aggravate startling regional disparities
Long day’s journey into economic night
11 July 2016
Economic developments in Britain since the referendum suggest that a recession is coming. And the politics of the negotiation with the EU suggest the country will suffer a prolonged period of weak economic growth.
Brexit and the economics of populism
12 December 2016
Inequality, insecurity and a nativist backlash against immigration all help to explain the rise of populism. But globalisation does not prevent governments from addressing these problems.
Five Brexit economic myths
26 May 2016
Key Brexiter arguments – EU regulation and immigration are costly; the EU damages UK trade and investment; Brexit would bring fiscal gains – have no basis in reality.
The economic consequences of leaving the EU: The final report of the CER commission on Brexit 2016
21 April 2016
After leaving the EU, the UK would face an invidious choice: sign up to EU rules and the free movement of labour, or suffer economic damage.
Time for a regime change in Frankfurt
08 March 2016
To get eurozone inflation back to the 'close to 2 per cent' target, the ECB needs to be much bolder – and needs fiscal help.
Can the eurozone shake off the global gloom?
22 January 2016
The global economy has shifted from being the potential saviour of the eurozone economy to an additional source of uncertainty for it.
European competitiveness, revisited
19 January 2016
European ‘competitiveness’ should be defined as productivity, and the policies to raise it are complex and counter-specific. Raising ‘competitiveness’ also requires more, not less democracy.
Has the euro been a failure?
11 January 2016
The euro has not been a positive economic and political force. But keeping the single currency together could still be less risky than dismantling it.
25 years on: How the euro's architects erred
05 November 2015
The original plans for the euro – conceived 25 years ago – suffered from five major flaws. Only some of these flaws have been fixed.
Gain or more pain in Spain?
19 October 2015
Spain is no poster child for austerity and structural reforms. The recovery is less than it appears and the country faces some formidable challenges.