The 60th anniversary of the Treaty of Rome presents an opportunity to reflect on the progress of European integration so far, and to discuss what the future will bring for Europe. We explore these topics in this special edition of The Sound of Economics.
Separating ‘legacy assets’ from banks’ core business is central to the rehabilitation of Europe’s banking system. How can Europe progress in its ongoing effort to rid the financial system of legacy assets, and equip it with renewed growth?
This Policy Contribution discusses the needs for a European migration policy, and considers where more policy coordination is actually needed.
This essay, published by CESifo, aims to summarise the experiences of the two monetary disintegration episodes, i.e. termination of settlements in TR since 1 January 1991 and the gradual collapse of the Soviet ruble area in 1990–1993.
The global financial crisis allegedly led to the end of global banking. However, Dirk Schoenmaker finds that reports of the demise of global banking are premature.
European banks are struggling with high amounts of non-performing loans. We look at the reasons behind this crisis, and how it affects banks, borrowers and the European economy as a whole. Finally, we explore potential solutions.
How can Italian banks address the issue of non-perfoming loans? What lessons can they learn from Japan?
Zsolt Darvas and Dirk Schoenmaker find strong support for the hypothesis that the larger the assets managed by institutional investors, the smaller the home bias and thereby the greater the scope for risk sharing.
This paper applies the info-gap approach to the unconventional monetary policy of the Eurosystem and so takes into account the fundamental uncertainty on inflation shocks and the transmission mechanism.
This paper was prepared for the European Parliament at the request of the Committee on Internal Market and Consumer Protection.
This Policy Contribution tackles the definition and benefits of collaborative economy, as well as the distinction between professional and non-professional services, recommendations on safety and transparency for users, and the way to approach regulatory concerns.
In this paper the authors explore what the EU’s strategic reaction should be to US diminishing giant policies, and the EU’s role in a world of declining hegemony and shifting balances