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Inventory of Central Banks' Challenges in Times of Secular Stagnation

With nominal interest rates at (or close to) 0 in major economies since 2009 (IMF, 2009), risks of secular stagnation raise a key question: what are the challenges central banks face to support recoveries and foster long-term growth?   The Zero Lower Bound Constraint: UMPs and Exit S

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The uncertain investment plan

The uncertain investment plan   The leaked investment plan—With investment trending down in the euro area (Guntram Wolff), the Juncker’s forthcoming €300bn investment program, called “Invest in Europe,” is gathering a lot of attention. Details are emerging. The FT (hat-tip EuroI

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Greece: a new agreement

The Eurogroup reached an agreement on Greece last week (with the Greek government’s comment), reviewed in details in EuroIntelligence:   · The deal extends the Master Financial Assistance Facility Agreement (MFAFA) for up to four months (end of June), which is two

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Global Governance: the importance of regionalism

As economies are (slowly) exiting from the global financial crisis, a re-assessment of the role of international institutions is taking place. This blogspot reviews the current debate. International institutions are relatively specialized in their activities, and simplifying, the World Bank (

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Digital Currencies : Risks and Opportunities

Introduction   Virtual currencies (VCs), i.e., decentralized and electronic currencies, have an increasing role as a new way to transact between people. In January 2015, Coinbase – a Californian bitcoin wallet- received a US$75 million investment from the New York Stock Exchange, and

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Cahiers graphique Macrobond WS/BSI: juin 2015

Risque de change, taux d'intérêts et dette publique. BSI Economics s'associe avec Macrobond et Warning Signals pour fournir ce premier cahier graphique.     Accéder au document

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