A few thoughts about the euro

A few thoughts about the euro

Posted by | 8 Sep 2022 | , | 0 |

This is it! You now need 1 dollar to buy 1 euro. To get this picture below, I used the FRED connection with Mathematica 13.1, as I explained it in a previous blog. The Wolfram documentation is very clear and self-explaining. You have to register on the FRED website. Beyond these practical aspects, let us come back to the economic meaning of the parity between the euro and the US dollar. Between 2000 and 2003, the euro was below the one dollar threshold, the late John Williamson explained in this article that is it was only a stochastic blip. The rest of the 2000s seem...

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Fourth ERMEES Macroeconomics Workshop 2021

Fourth ERMEES Macroeconomics Workshop 2021

Posted by | 14 Nov 2021 | | 0 |

The European Economy in the Time of COVID-19: Towards a New Dawn? Friday December 3, 2021, Strasbourg The University of Strasbourg, the BETA research laboratory and ERMEES research team are delighted to announce a one-day macroeconomics workshop to be held on Friday December 3, 2021 in Strasbourg. The COVID-19 pandemic is unprecedented in recent history, the ensuing economic crisis has plunged the world economy into disarray and put the European economy to the test. Despite the suffering and the loss of many lives, this crisis is an opportunity to rethink certain aspects of the European project. In the emergency, unprecedented measures have been put...

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The European response to the epidemic

The European response to the epidemic

Posted by | 29 Mar 2020 | | 0 |

Germany shut down its borders with France, Denmark, Austria and Luxembourg in an effort to curb the spread of the Covid-19 epidemic at home. Spain and other European Union countries are doing the same. The closure of the Schengen border raises more barriers to individual movements within the EU.  Closing the borders is an impulsive response to the crisis. It is perhaps understandable in an emergency, when national governments are responsible for protecting the population, in the absence of a common health policy in Europe. But it promotes an inward-looking attitude that does not facilitate the coordination of actions...

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GDRE Photos

GDRE Photos

Posted by | 6 Jul 2022 | , | 0 |

The 38th Symposium in Money, Banking and Finance was held in Strasbourg, June 2022, co-organized by BETA and GDRE Money Bankinf and Finance. Photos of GDRE can be viewed...

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Primary and secondary education in the European Union: 5 questions to understand the heterogeneity of national education systems

Primary and secondary education in the European Union: 5 questions to understand the heterogeneity of national education systems

Posted by | 15 Sep 2021 | , , | 0 |

As the European Union seeks to boost all possible engines of economic growth, education is among the key factors for a smart and inclusive growth. The start of the new school year is an ideal time to look at the different ways in which education systems operate in Europe. This article provides an overview of national education systems in the European Union, particularly for primary and secondary education

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Next Generation EU: a time-bomb, or a new lease of life?Understanding the EU recovery plan in 5 questions

Next Generation EU: a time-bomb, or a new lease of life?Understanding the EU recovery plan in 5 questions

Posted by | 10 Mar 2021 | , , , , , | 0 |

The European recovery plan, named Next Generation EU, was launched in the heart of the pandemic crisis that began in early 2020. This recovery plan truly represents a project of unprecedented scale in the European construction history. But the EU is a complex thing, difficult to grasp for the uninitiated as the institutional mechanism is so difficult to understand. This recovery plan can be a cornerstone for the future of the European, but can also become the painful indicator of the institutional dysfunctions of the EU. 1. Next Generation EU, what does it mean? Next Generation EU is intended...

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Towards a More Resilient European Union after the COVID-19 Crisis

Towards a More Resilient European Union after the COVID-19 Crisis

Posted by | 20 Aug 2020 | | 0 |

The pandemic crisis constitutes an unprecedented challenge for the European Union and for the Euro Area. Indeed, European institutional architecture can be viewed as being half-way between an association of sovereign states (like the United Nations, for example) and a politically integrated federation (like the United States for example). In this original construction, competences on several matters (such as economic, political, social and health issues, etc.) are shared at the European level, but also at the national and local levels in more complex ways than in fully integrated federations. To improve the resilience of the European Union to violent external shocks, the main objective of this paper...

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Europe’s Hamiltonian moment… Again

Europe’s Hamiltonian moment… Again

Posted by | 28 Apr 2020 | , | 0 |

In these dark times of ’Coronacoma’ for the World Economy, the European Monetary Union is on the brink…Again. This time, it could be truly different. Countries opposed to any kind of debt mutualization properly ordered hinder de facto the achievement of a federal leap that it is desperately needed to complete the monetary union. Without this giant leap, there are real risks of implosion for the eurozone and, even, the whole EU. This brief note tries to explain why the US historical experience could be inspiring for Europeans in a situation where the concept of radical uncertainty is especially...

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The long-term growth impact of the pandemic

The long-term growth impact of the pandemic

Posted by | 26 Apr 2020 | , , | 0 |

The economic effects of the Covid-19 pandemic are devastating worldwide. The IMF is projecting that the world economy will contract by 3% in 2020, before rebounding by 5.8% in 2021. The V-shaped recovery is predicated on the pandemic receding in the second half of 2020. A U-shaped scenario, with a prolonged recession, is also possible if the pandemic lingers, or if the recession triggers banking and/or sovereign debt crises. Will GDP growth get back to its pre-crisis trend in the aftermath the pandemic? Is an L-shaped scenario likely, with a permanent decline in the growth rate? Uncertainty surrounding the...

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Joint liability bonds for a joint European defense against the pandemic

Joint liability bonds for a joint European defense against the pandemic

Posted by | 6 Apr 2020 | , , , , | 0 |

The problem Mitigating the impact of the Covid-19 pandemic will require a significant increase in public spending to rescue sinking economies and further shield health systems. At the same time, tax revenues will be collapsing as long as economic activity remains suppressed. Budget deficits will inevitably swell, leading to soaring public debt. Eurozone countries – such as Italy, Greece, Portugal and Spain – that have already suffered the effects of the sovereign debt crisis – and their debt remains high – will be hit particularly hard. The increase in debt will call into question its sustainability, posing the risk...

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