When carbon is priced, who ultimately pays?

Read the complete article here.

Sustaining a Global Recovery

"How much has potential output decreased? It is very hard to tell: we do not see potential output, only actual output. The historical evidence is worrisome, however. The IMF’s forthcoming World Economic Outlook presents evidence from 88 banking crises over the past four decades in a wide range of countries. While there is large variation across countries, the conclusion is that, on average, output does not go back to its old trend path, but remains permanently below it.

The possible good news is that the trend itself appears to be unaffected: on average, crises permanently decrease the level of output, but not its growth rate. So, if past is prologue, the world economy likely will return to its past growth rate. But, especially in advanced countries, the period of above-average growth, characteristic of normal recoveries, may be short-lived or nonexistent."

Read Olivier Blanchard's article here.

Being an economist

A slow-burning fuse

Age is creeping up on the world, and any moment now it will begin to show. The consequences will be scary, says Barbara Beck. Read the complete special report in The Economist here.

Health Care That Works

Read the complete op-ed in the NYTimes here.

Illusions chinoises

Lisez l'article complet dans Les Echos ici.

Daar is Tobin weer

DE STANDAARD ANALYSE — 'De banken hebben de crisis veroorzaakt, en zij moeten dus ook maar opdraaien voor de gevolgen ervan.' Dat ABVV-voorzitter Rudy De Leeuw gisteren in De Morgen, pleitte voor de invoering van een crisisbelasting op de banken, zal niemand echt verbazen. Maar dat minister van Financiën en MR-voorzitter Didier Reynders zich in Le Soir duidelijk voorstander toonde van de invoering van een soort algemene taks op financiële transacties, klonk al heel wat verrassender.

Lees het volledige artikel hier.

Effets économiques d'une régularisation des sans-papiers en Belgique

Consultez le rapport de l'IRES à ce sujet ici.