Europe has responded to the crisis with strengthened budgetary and macroeconomic surveillance, the creation of the European Stability Mechanism, liquidity provisioning by resilient economies and the European Central Bank and a process towards a banking union. However, a monetary union requires...

The July 2013 European Council recommendations to the euro area recognise a number of fiscal and macrostructural challenges, but do not fully exploit the options made possible by the European economic governance framework. There are particular problems with the Council's suggestions for the euro...

Europe has responded to the crisis with strengthened budgetary and macroeconomic surveillance, the creation of the European Stability Mechanism, liquidity provisioning by resilient economies and the European Central Bank and a process towards a banking union. However, a monetary union requires...

This paper was prepared at the request of the Economic and Monetary Affairs Commitee of the European Parliament. The July 2013 European Council recommendations to the euro area recognise a number of fiscal and macrostructural challenges, but do not fully exploit the options made possible by the...

edited by Reinhilde Veugelers Publication Launch 'Manufacturing Europe's Future' 'Industrial policy is back!â?? This is the message given in the European Commissionâ??s October 2012 communication on industrial policy (COM(2012) 582 final), which seeks to reverse the declining role of the...

I explain the credit card debt puzzle – the co-holding of high-cost debt and low-yield liquid assets – with a household and individual determinant that lower debt repayments. At the household level, co-holding is consistent with intra-household frictions. Couples co-hold 40 percent more than...

This paper documents extensive commitment to mandatory debt repayment. In a natural experiment in which households can apply for free mortgage-payment flexibility for one to twelve months, 43 percent of applicants choose a dominated option of short flexibility. I argue that short flexibility...

Europe has responded to the crisis with strengthened budgetary and macroeconomic surveillance, the creation of the European Stability Mechanism, liquidity provisioning by resilient economies and the European Central Bank and a process towards a banking union. However, a monetary union requires...

The July 2013 European Council recommendations to the euro area recognise a number of fiscal and macrostructural challenges, but do not fully exploit the options made possible by the European economic governance framework. There are particular problems with the Council's suggestions for the euro...