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Tag Archives: policy

Climate risks to European banks: a new era of stress tests

Several European central banks have begun assessing the impact of adverse climate scenarios on banks’ capital. Comparable work at EU or euro area level has evolved more slowly. Supervisors need build up a distinct and more complex type of analysis, and should engage with banks now.The release of a proposed methodology for assessing climate risks within UK banks and insurers by the Bank of England just before Christmas has fuelled calls for a similar ‘climate stress test’ for European...

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Factors determining Russia’s long-term growth rate

This paper’s main conclusion is that Russia’s economy cannot grow at the pace recorded in the early and mid-2000s because of the different external environment, the different stage of development and serious demographic headwinds.In the decade of the 2010s, the pace of economic growth in Russia slowed down to an annual rate of below 2% and most forecasts suggest that this is will be the new “normal” for the Russian economy at least in the medium-term. While politically and socially...

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Market versus policy Europeanisation: has an imbalance grown over time?

This Policy Contribution tests the hypothesis that an imbalance has grown in Europe over the last few decades because markets have integrated to a greater extent than European-level policymaking, potentially creating difficulties for the democratic process in managing the economy. This hypothesis has been put forward by several authors but not so far tested empirically.To evaluate the process of European market integration – or market Europeanisation – over the last few decades, we assess...

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Evidence matters, but ideas shape policy in more fundamental ways than we might realise

Evidence-based policy-making can be problematic in practice, especially if the evidence is uncertain. Based on a case study concerning the formation of a national-level policy position in Ireland in response to an EU initiative, Niamh Hardiman and Saliha Metinsoy suggest that policy makers’ decisions may well be guided by beliefs that go beyond the direct evidence available. Ideas can be so deep-rooted that they guide policy decisions implicitly. The necessary dialogue between the social...

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What Trump election means for global economy?

The most important election in the world is over. USA has a new president Donald Trump. It will probably mean the following economic policies are implemented: - lower taxes and, in the short-term higher public debt - more spending on infrastructure, which US badly needs and higher military spending - less globalization and more protectionist measures, such as tariffs and physical/legal obstacles to inward labor...

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Rok rządów PiS i znaczący skok innowacyjności

Właśnie pojawił się najnowszy ranking konkurencyjności World Economic Forum, tworzony na podstawie opinii prezesów firm. Tabela powyżej pokazuje miejsce Polski w kategorii 12-tej tego rankingu – innowacyjności. Widać jak po ośmiu latach niszczenia polskiej innowacyjności przez rząd PO-PSL, ta teraz powoli się odradza. Największym wyzwaniem pozostaje aktywność zakupowa rządu, który powinien kierować się nie ceną, ale...

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Ekonomiczna analiza Brexitu

Gro komentarzy po decyzji Wielkiej Brytanii o wyjściu z UE skupia się na aspektach politycznych lub społecznych. Zastanówmy się na konsekwencjami ekonomicznymi. Efekty krótkookresowe W krótkim okresie działają przede wszystkim mechanizmy związane z rynkami finansowymi . To zmiany cen aktywów takich cen papierów wartościowych i walut. Od tego czy te efekty utrzymają się lub pogłębią, zależą efekty długookresowe. Wiele...

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Narxoz lessons for Europe

About a year ago I was invited to become a rector of the largest and oldest (52 years) economic university in Kazakhstan – Narxoz Univeristy. It was called New Economic University prior to my arrival, but we went back to the old name, Narxoz. About 140,000 graduates got their diplomas here, including most successful businessman and politicians, prime ministers and richest  Kazakhs. Kazakhstan is a state with Islam as a dominant religion (more than 70% of citizens). But at the same time it...

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Fick dich, Makrele!

Jesteś chrześcijaninem, dobrym człowiekiem. Napotykasz biednego, potrzebującego, bez domu i pożywienia. Zapraszasz go do siebie do domu, karmisz, dajesz wygodny pokój do spania, nawet opłacasz kurs podwyższenia kwalifikacji, żeby mógł znaleźć pracę. W tym czasie biedny mówi Ci, że Twoja żona robi paskudne jedzenie, obmacuje żonę, gwałci nieletnią córkę, syna, psa, kota i chomika, daje Ci w pysk kilka razy, wychodząc wybija wszystkie szyby w oknach i sra na wycieraczkę. W Brukseli byłem...

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