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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Brexit: a European Odyssey

Nicholas Barrett and Guntram Wolff talk to Kalypso Nicolaïdis, author of Exodus, Reckoning, Sacrifice: Three Meanings of Brexit. Together they discuss the mythology that binds Britain to continental Europe

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: October 11, 2019
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Opinion

How to ward off the next recession

Despite confident official pronouncements, the deteriorating state of the global economy is now high on the international policy agenda. The OECD recently revised down its forecasts to 1.5% growth in the advanced G20 economies in 2020, compared to almost 2.5% in 2017. And its chief economist Laurence Boone warned of the risk of further deterioration – a coded way of indicating a growing threat of recession.

By: Jean Pisani-Ferry Topic: Global Economics & Governance Date: October 2, 2019
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Podcast

Deep Focus: What's slowing the Mercosur agreement?

The EU-Mercosur has been 20 years in the making, but a hostile trading environment, unpredictable government and growing environmental concerns are putting it in peril. Is the deal worth fighting for and can it be saved? And could it become a casualty Brazil's forest fires?

By: The Sound of Economics Topic: Global Economics & Governance Date: September 27, 2019
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External Publication

European Parliament

Challenges ahead for the European Central Bank: Navigating in the dark?

Since the second half of 2018, signs of a slowdown have been piling up in the euro area. The ECB will face major challenges in this potentially difficult period: its main tools are nearly exhausted, the monetary union in which it operates is still incomplete, and it lacks the understanding of what the ‘new normal’ looks like. The authors, therefore, urge the ECB to review its strategy and framework to be able to face these challenges.

By: Grégory Claeys, Maria Demertzis and Francesco Papadia Topic: European Macroeconomics & Governance, European Parliament, Testimonies Date: September 25, 2019
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Podcast

Deep Focus: What is a hybrid attack?

Hybrid attacks are fast, dynamic and ever-evolving. They can cross borders and span industries. They are best dealt with at the national level, but without international cooperation, nation-states are bound to be overwhelmed. So hybrid attacks must be repelled by responsive nation-states and by cooperative international bodies.

By: The Sound of Economics Topic: Innovation & Competition Policy Date: September 18, 2019
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Past Event

Past Event

Climate change and the role of central banks

What connections exist between central banks and climate change, and what are the resulting implications?

Speakers: Emanuele Campiglio, Paul Hiebert, Pierre Monnin, Kjell G. Nyborg, Luiz Awazu Pereira da Silva, Mario Quagliariello, Mattia Romani, Paweł Samecki and Dirk Schoenmaker Topic: Energy & Climate, European Macroeconomics & Governance Location: Narodowy Bank Polski, Świętokrzyska 11/21, 00-919 Warsaw Date: September 16, 2019
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Director's Cut: The Green New Deal

In this Director's Cut of 'The Sound of Economics', Guntram Wolff and Simone Tagliapietra discuss the division of tasks for the new EU commissioners, following Ursua Von der Leyen's announcement of roles on 10th September. They specifically zoom in on the role of the Green Deal, one of the flagship projects of this commission.

By: The Sound of Economics Topic: Energy & Climate Date: September 11, 2019
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Podcast

Backstage at BAM19: Designing a competition policy fit for Europe's needs.

Backstage at the Bruegel Annual Meetings, Rebecca Christie talks with Mathew Heim on competition policy.

By: The Sound of Economics Topic: Innovation & Competition Policy Date: September 5, 2019
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Podcast

Backstage at BAM19: How much further reform is needed for the new financial sector?

Backstage at the Bruegel Annual Meetings, Rebecca Christie talks with Nicolas Véron on the new financial sector.

By: The Sound of Economics Topic: Finance & Financial Regulation Date: September 5, 2019
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Podcast

Backstage at BAM19: Enhancing Europe's economic sovereignty

Backstage at the Bruegel Annual Meetings, Nicholas Barrett talks with Jean Pisani-Ferry on Europe's monetary union.

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: September 5, 2019
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Podcast

Backstage at BAM19: Priorities for Europe's monetary union

Backstage at the Bruegel Annual Meetings, Nicholas Barrett talks with Zsolt Darvas on Europe's monetary union.

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: September 5, 2019
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Podcast

Backstage at BAM19: AI, robots and platform workers

Backstage at the Bruegel Annual Meetings, Giuseppe Porcaro talks with J. Scott Marcus on AI, robots and platform workers.

By: The Sound of Economics Topic: Innovation & Competition Policy Date: September 4, 2019
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