Tematica: Action Institute
“What has bank capital ever done for us?” (VOX). The authors of this column reach the conclusion that higher capital ratios are unlikely to prevent a financial crisis. However, higher capital buffers have social benefits in terms of macro-stability.
“Carving out legacy assets: A successful tool for bank restructuring?” (CEPS). European banks have accumulated more than €1 trillion in non-performing loans (NPLs) on their balance sheets in the aftermath of the crisis of 2007-09. This paper assesses the effectiveness of the various resolution tools to deal with legacy assets such as NPLs under the resolution framework.
“Why was the last TLTRO take-up unexpectedly high?” (BRUEGEL). The final round of TLTRO financing was an unexpected hit with euro area banks. However, with many now expecting a hike in deposit rates, banks’ enthusiasm might be driven largely by the chance to make a profit from the cheap loans.
“Benefits of GDP-indexed bonds for issuing countries, investors and international financial stability” (VOX). This column uses simulations up to 2040 to identify which countries would benefit from using GDP-indexed bonds instead of conventional debt.
“Addressing the accelerating labor market dislocation from digitalization” (BROOKINGS). In this policy brief, the authors highlight the impact of the speed and the scale that digital innovation will have in disrupting labor markets in the future.
“As the EU celebrates reaching 60, research seen as central to its future” (SCIENCE BUSINESS). EU leaders stressed the importance of technology and innovation in a birthday declaration signed in Rome. Now there is optimistic talk of €100B for the next Framework programme, but Brexit could be a dampener.
“The best vs the rest: The global productivity slowdown hides an increasing performance gap across firms” (VOX). This column argues that the global slowdown of the productivity growth at the aggregate level masks a deterioration in both productivity growth within firms and a process of creative destruction.
“Towards a just transition for inclusive digitalisation” (IDS) Only a few years ago, the links between jobs and ‘artificial intelligence, the Internet of Things, or Uberisation were not part of a mediatised policy discourse as they are today.
“Is the EU’s single market leading to convergence or divergence?” (CENTRE FOR EUROPEAN REFORM). The EU’s single market may not be as integrated as the US one, but the degree of integration is nonetheless impressive. Many services markets are still predominantly local, but the degree of integration in goods markets and capital markets is very high.
“Carving out legacy assets: a successful tool for bank restructuring?” (BRUEGEL). Separating ‘legacy assets’ from banks’ core business is central to the rehabilitation of Europe’s banking system. How can Europe progress and equip it with renewed growth?
CEPS). The European Commission’s flagship initiative of the Capital Markets Union (CMU) aims to unlock funding for capital markets and find ways of linking investors and savers with growth. By the end of 2017, the Commission expects to have finalised and implemented the first phase of CMU measures.
“Proposal to accelerate social mobility: Incentivizing greater private investment in the skill development of 21st century workers” (BROOKINGS). The authors discuss the importance of accelerated private investment in skill development of labor as a means to increase the competitiveness of firms, to create value added by workers, and to boost wages and social mobility.
“Alice in gender-gap land” (BRUEGEL). The International Women’s Day on 8 March drew attention to the gender gap again, both in pay and in employment. Ongoing research on the topic shows that the gender gap persists worldwide, from finance to arts.
“Information changes attitudes towards immigrants” (VOX). This column uses survey results to show that accurate information about numbers of immigrants changes opinions on whether there are too many immigrants, but not on policy towards them.
Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
Herbert Hoover […]
Good health is essential to social and economical development and it empowers all of the public sectors.
World Health Organization […]
Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
Peter Drucker […]
Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.
Ludwig Wittgenstein […]