Podcast

Director’s Cut: The case for a legislative remedy for recessions

Bruegel's Maria Demertzis welcomes Yale Law School professor Yair Listokin to this Director's Cut of 'The Sound of Economics', to discuss how law might be deployed as a macroeconomic tool to counter financial crisis.

By: Date: March 12, 2019 Topic: European Macroeconomics & Governance


In this episode of Director’s Cut, Bruegel’s deputy director Maria Demertzis talks to Yair Listokin, a professor at Yale Law School, about the effect law could have on achieving macroeconomic objectives.

In his new book titled ‘Law and Macroeconomics’, Yair Listokin puts forward the idea that law has the ability to function as an instrument of macroeconomic policy. He argues that the time it took for private spending to recover after the 2008 financial crisis could have been cut, had legislation played a more vital role in the process.

Here the two elaborate on these ideas, focusing particularly on the perceived trade-off between law’s role in maintaining stability, and its potential to be used as a real-time response to economic shocks. They also discuss the applicability of this policy approach in the European reality of multiple legal frameworks and central banks struggling to stimulate aggregate demand at the zero lower interest rate bound.

You can find more on macroeconomic policy in previous editions of the Director’s Cut. First, we recommend Bruegel director Guntram Wolff’s conversation about the growth and stability challenges facing the global financial system, with Tharman Shanmugaratnam, deputy prime minister of Singapore and chair of the G20 Eminent Persons Group, and Jean Pisani-Ferry, mercator senior fellow at Bruegel. Second, consider Maria Demertzis’ discussion with Martin Sandbu of the Financial Times, on the topic of what the field of economics has learned in the decade since the financial crisis.

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Blog Post

Non-performing loans’ legacy versus secondary markets

Eleven years since the start of Europe’s financial crisis, and the legacy of non-performing loans in the EU, though much smaller, is still a live issue for some member states.

By: Joanna Surala Topic: Finance & Financial Regulation Date: December 10, 2019
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Podcast

Podcast

The Belt and Road anxiety

Is the Belt and Road initiative a global development plan or is it just a trade project? How concerned should the international community be with what is called the "project of the century"? This week, Guntram Wolff discusses the Belt and Road Initiative with Prof. He Fang, from the Shanghai Jiao Tong University, Dr. Jing Gu, director of the Centre for Rising Powers and Global Development, and Suman Bery, from Bruegel.

By: The Sound of Economics Topic: Global Economics & Governance Date: December 5, 2019
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Policy Contribution

European Parliament

The next generation of digital currencies: in search of stability

Recent developments have re-opened the debate on the future of money. This Policy Contribution discusses two aspects: the implications of the rise of global private stablecoins, such as Facebook's Libra, and the role that public central bank digital currencies could play.

By: Grégory Claeys and Maria Demertzis Topic: European Parliament, Finance & Financial Regulation, Testimonies Date: December 2, 2019
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Podcast

Podcast

The EU-Russia-China energy triangle

Russia wants to export more gas to China, should the EU be concerned? This week, Nicholas Barrett is joined by Georg Zachmann to discuss the EU-Russia-China energy triangle.

By: The Sound of Economics Topic: Energy & Climate Date: November 28, 2019
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Podcast

Podcast

Ethics and Algorithms

Will the EU's regulations undermine its power of innovation? How can the EU protect its values while harnessing technology? These are some of the questions we discuss with Brent Mittlestadt, from the University of Oxford, and Andre Loesekrug-Pietri, from the Joint European Disruptive Initiative, in our new Sound of Economics podcast.

By: The Sound of Economics Topic: Innovation & Competition Policy Date: November 20, 2019
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Podcast

Podcast

Cars, steel and national security: The EU-US trade spat

Guntram Wolff is joined by Alan Beattie, the author of the FT's new Trade Secrets newsletter, and by Andre Sapir, Bruegel's very own trade expert to discuss President Trump's tariffs and whether or not they're working

By: The Sound of Economics Topic: Global Economics & Governance Date: November 14, 2019
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Podcast

Podcast

How to make the European Green Deal work (Part Two)

Nicholas Barrett and Guntram Wolff discuss industrial policy and the social consequences of the green deal with Grégory Claeys and Simone Tagliapietra.

By: The Sound of Economics Topic: Energy & Climate Date: November 14, 2019
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Podcast

Podcast

How to make the European Green Deal work (Part One)

The European Green Deal will be a defining feature of Ursula Von der Leyen's incoming Commission. But will carbon border taxes and single carbon prices be enough to make Europe climate-neutral by 2050? This week, Nicholas Barrett and Guntram Wolff discuss Bruegel's new paper 'How to make the European Green Deal Work' with Grégory Claeys and Simone Tagliapietra.

By: The Sound of Economics Topic: Energy & Climate Date: November 7, 2019
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Opinion

Politics, not policy will help Lagarde save the eurozone

Her success at helm of Europe’s central bank will depend on her ability to mend fences with hawkish policymakers.

By: Guntram B. Wolff and Rebecca Christie Topic: European Macroeconomics & Governance Date: November 4, 2019
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Podcast

Podcast

How not to spend it

Buying a car, a house or a cryptocurrency has never been easier: with a simple click, digital banking has made financial operations accessible to everyone. But, while Fintech has become widespread, financial literacy does not seem to keep up the pace. This week Maria Demertzis and Nicholas Barrett are joined by Annamaria Lusardi, Denit Trust Endowed Chair of Economics and Accountancy from George Washington University School of Business to discuss financial literacy.

By: The Sound of Economics Topic: Finance & Financial Regulation Date: October 31, 2019
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Podcast

Podcast

How to Spend it

Can governments make their fiscal policy go further? And are they trusted enough to try? This week The Sound of Economics asks if the quality of public spending is as important as the quantity.

By: The Sound of Economics Topic: European Macroeconomics & Governance, Global Economics & Governance Date: October 23, 2019
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Podcast

Podcast

The Art of the Brexit Deal

An emergency Brexit podcast to dissect today's tentative deal between the EU27 and the British Government, featuring Maria Demertzis, Guntram Wolff and Nicholas Barrett

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: October 17, 2019
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