http://www.VoxEU.org Popular articles on VoxEU.org en http://www.VoxEU.org/index.php?q=node/3421 Barry Eichengreen, Kevin H. O’Rourke, 8 March 2010

This column updates the original Vox columns by Barry Eichengreen and Kevin O’Rourke comparing today’s global crisis to the Great Depression. The three previous columns have shattered all Vox readership records with over 450,000 views. This latest edition covers up to February 2010 showing that, while there is cause for optimism, there is no room for complacency.

Full Article: A tale of two depressions: What do the new data tell us? February 2010 update]]> Mon, 08 Mar 2010 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/3421 http://www.VoxEU.org/index.php?q=node/930 James J. Heckman, Paul A. LaFontaine, 13 February 2008

Official statistics for US high school graduation rates mask a growing educational divide. This column presents research showing that a record number of Americans are going to university – while an increasing number are dropping out of high school. This poses major social challenges for the United States.

Full Article: Educated in America: College graduates and high school dropouts]]> Wed, 13 Feb 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/930 http://www.VoxEU.org/index.php?q=node/729 Barry Eichengreen, 4 May 2010

Originally posted 17 November 2007, this Vox column is more relevant than ever arguing that adopting the euro is effectively irreversible. Leaving would require lengthy preparations, which, given the anticipated devaluation, would trigger the mother of all financial crises. National households and firms would shift deposits to other Eurozone banks producing a system-wide bank run. Investors, trying to escape, would create a bond-market crisis. Here is what the train wreck would look like.

Full Article: Eurozone breakup would trigger the mother of all financial crises]]> Tue, 04 May 2010 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/729 http://www.VoxEU.org/index.php?q=node/466 Stephen Cecchetti, 15 August 2007

A revised and updated version of the 13 August column on the basic how's and why's of what the Fed has been doing to calm financial markets.

Full Article: Subprime 'crisis': FAQs (revised & updated)]]> Wed, 15 Aug 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/466 http://www.VoxEU.org/index.php?q=node/2083 Stijn Claessens, M. Ayhan Kose, Marco E. Terrones, 7 October 2008

The house and equity price busts on top of a credit crunch make this an unprecedented crisis for the modern US economy; its real economy effects are thus difficult to assess. This column provides insights based on evidence from 122 recessions in 21 advanced nations since 1960. Findings suggest recessions in such circumstances are much costlier and slightly longer. But the outcome can be affected by policy, and it’s high time that policymakers act swiftly and decisively.

Full Article: Five decades of evidence on financial crisis and recession: How long? How deep?]]> Tue, 07 Oct 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/2083 http://www.VoxEU.org/index.php?q=node/989 Jeffrey Frankel, 18 March 2008

One of the world’s leading international economists explains how the euro could surpass the dollar as the premier international currency and examines the geopolitical implications of such a shift.

Full Article: The euro could surpass the dollar within ten years]]> Tue, 18 Mar 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/989 http://www.VoxEU.org/index.php?q=node/460 Stephen Cecchetti, 13 August 2007

Here are the basic how's and why's of what the Fed has been doing to calm financial markets.

Full Article: Subprime ‘crisis’: FAQs]]> Mon, 13 Aug 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/460 http://www.VoxEU.org/index.php?q=node/988 Carmen M. Reinhart, 15 March 2008

We may just have started to feel the pain. Asset price drops – including housing – are common markers in all the big banking crises over the past 30 years. GDP declines after such crises were both large (-2% on average) and protracted (2 years to return to trend); in the 5 biggest crises, the numbers were -5% and 3 years. This column, based on the author’s testimony to the Congress, picks through the causes and consequences. It argues that when it comes to ‘cures,’ it would be far better to get the job done right than get the job done quickly.

Full Article: Subprime crisis: causes, consequences and cures]]> Sat, 15 Mar 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/988 http://www.VoxEU.org/index.php?q=node/2340 Richard Baldwin, Barry Eichengreen, 9 October 2008

Without rapid and coordinated action by G7/8 leaders, this financial crisis could turn into a jobs crisis, a pension crisis and much more. This column introduces a collection of essays by leading economists on what the G7/8 leaders should do this weekend. The dozen essays present a remarkable consensus on a few points: we need immediate, coordinated global action that includes recapitalisation of the banks.

Full Article: Rescuing our jobs and savings: What G7/8 leaders can do to solve the global credit crisis]]> Thu, 09 Oct 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/2340 http://www.VoxEU.org/index.php?q=node/2785 Nicholas Bloom, Max Floetotto, 12 January 2009

A key source of the today’s economic weakness is uncertainty that led firms to postpone investment and hiring decisions. This column, by the authors whose model forecast the recession as far back as June 2008, report that the key measures of uncertainty have dropped so rapidly that they believe growth will resume by mid-2009. This means any additional economic stimulus has to be enacted quickly. Delaying to the summer may mean the economic medicine is administered just as the patient is leave the hospital.

Full Article: Good news at last? The recession will be over sooner than you think]]> Mon, 12 Jan 2009 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/2785