Reports of Professor Elisabeth Krecké
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The ‘Big Rethink’ in macroeconomics
The 2008 financial crisis threw the discipline of macroeconomics into turmoil. Since then, some of the world’s most respected economists have regularly gathered to theorize about the lessons learned and how to address fiscal and monetary policy going forward. Yet a troubling trend is growing stronger: basing macroeconomics on ideological, ...
Europe’s public debt: Analyzing the fear factor
Public debt levels are at an all-time high – in Europe the problem is particularly acute. The lessons from the Greek debt crisis seem not to have been learned, as Italy alone carries debt that is three times larger than the European Union’s emergency fund. Some economists now argue such ...
Hidden agenda behind the Global Asset Registry project
A global asset registry (GAR) project aims to pinpoint the true owners – past, present and future – of all types of wealth now shielded from tax officials in safe havens across the globe. The project appears to be technically feasible. It is pursued by a group of tax specialists ...
Scenarios for Georgieva’s leadership of the IMF
The new head of the IMF, Kristalina Georgieva, has some novel plans for the future of her organization. She wants to redefine its core aims to address climate change, economic fairness and gender equality. If she achieves her mission, the IMF could transform from a tough, economic reform-minded lender of ...
Leadership Challenges 2020: European Central Bank torn between policy and politics
With the governing body of the European Central Bank bitterly divided over monetary policy at the times of political pressure and economic uncertainty, new President Christine Lagarde faces an extraordinary challenge of putting Europe’s most important financial and regulatory institution back on an even keel.
Question marks over the ECB’s governance
When Sabine Lautenschlaeger became the fourth representative of Germany on the ECB governing bodies to resign on former President Mario Draghi’s watch, the issues of his legacy and the collegiality in the EU’s central bank have come to the fore. Growing doubts over the bank’s stimulus policies combined with ignoring ...
The promises and risks of the EU’s single safe asset project
The launch of a Sovereign Bond-Backed Security (SBBS) is advocated by EU leaders as the best way to overcome the flaws inherent in the monetary union, which became notably obvious after the euro debt crisis of 2009. The SBBS is supposed to offer European investors new reliable stores of value, ...
Low interest rates: How long will savers be penalized?
Low, near-zero and negative interest rates around the world are depriving savers of potential earnings. Just a couple of years ago, it seemed as if a normalization of interest rates was on the horizon. Now, however, economic and political realities portend a “low-for-long” scenario. In fact, central bankers – in ...
