Blog Post
Leaders with science training have not outperformed other leaders in terms of their countries’ coronavirus responses - nor have women or populists.
Blog Post
Coronavirus means many European Union countries will soon face major increases in their sovereign debt burdens, exacerbated by the sudden collapse of economic activity. What should the European Union do to address these debt problems?
Policy Contribution
How can Italian banks address the issue of non-perfoming loans? What lessons can they learn from Japan?
Blog Post
The Trump administration seems more than willing to break with liberal orthodoxy on trade. Could this lead them to introduce a "destination tax", essentially penalising imports? If the USA moves ahead with this idea, Mark Hallerberg argues that the EU should seriously consider doing the same. Not only would it balance out some of the trade effects of the US move, it might also have positive political implications for Europe.
Blog Post
Financial supervisors must provide the public with more information about the European banking sector in order to ensure financial stability. The level of transparency in national supervision of banks has dropped since 2013.
Blog Post
“Financial supervisory transparency” has been on the agenda of international financial institutions for some time. It concerns the public availability of data supervisors have on the financial industry. Using a new measure of data reporting to international financial institutions like the IMF and World Bank, we show that financial supervisory transparency is particularly lacking in Europe. We make recommendations for EU institutions to improve it.
Policy Contribution
This paper introduces a new international financial regulatory data transparency index - the Financial Regulatory Transparency (FRT) Index - in order to address the exisiting gap in measuring regulatory transparency.
Blog Post
The EU bank resolution framework deals in principle with risks from SIFIs, or systemically important financial institutions, but might have overlooked PIFIs - politically important financial institutions.
Working Paper
At least 12 European Union member states used publicly created asset management companies (AMCs), otherwise known as a ‘badbanks’ to respond to the recent financial crisis. This tool remains an option for future bank resolutions under the EU Bank Recovery andResolution Directive. This working paper assesses the design of AMCs in the recent crisis and why their form has changed.
Policy Contribution
This Policy Brief was prepared for the European Parliament's Monetary Dialogue with the President of the European Central Bank Mario Draghi. The authors assess the impact of the Monetary Dialogue. They describe the ECB’s accountability practices, compare them to those of other major central banks and provide an assessment of the dialogue in the last five years.
Policy Contribution
Current and planned European Union requirements on bank transparency are either insufficient or could be easily sidestepped by supervisors. A banking union in Europe needs to include requirements for greater supervisory transparency.
Policy Contribution
When public support is provided to failed institutions it should come from a bankfunded resolution fund. This would reduce taxpayers’ direct costs, and would make banks less likely to take risks and advocate for bailouts