Intereconomics - Review of European Economic Policy
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Newsletter – Volume 53,
May/June 2018

The May/June issue of Intereconomics is dedicated to the search for a new economic paradigm following the failures of the old model. In a special extended Forum, leading economists explore new approaches to topics including financial markets, inequality, fiscal policy, global trade and environmental regulation. Elsewhere in the journal, articles assess the ECB’s monetary policy from multiple perspectives, and the impact of low interest rates on investment behaviour is analysed. The authors of this issue’s Letter from America advocate a federal job guarantee to eliminate unemployment in the US.

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Featured Topic

A New Economic Paradigm

The financial crisis of 2008-09 may have occurred a decade ago, but we are still dealing with the repercussions today, including a global populism wave. The crisis has also led to the demise of economists’ unwavering belief in market efficiency that had guided economic policy for decades. Marcel Fratzscher, Moritz Schularick, Ottmar Edenhofer, Simon Tilford, Sebastian Dullien are among the many prominent economists in this Forum arguing that a new paradigm is urgently needed with new policies to address today’s pressing issues, such as growing inequality, climate change and rising trade protectionism.

Vacancy Announcement

Vacancy Announcement

Intereconomics is looking to hire a new editor! Apply at Application deadline is tomorrow, June 7!

Additional Highlights from the Current Issue

The Federal Job Guarantee

How do we eliminate unemployment altogether? William Darity Jr. and Darrick Hamilton propose implementing a federal job guarantee in the US in order to ensure that every American who wants to work has access to a high quality job with a decent living wage and the sense of dignity that comes with it.

Myths and Facts About Inequality

Germany’s social market economy has aimed at spreading wealth and providing a broad social safety net for all groups of society for the last seven decades. Yet a defining feature of Germany’s new economy has been the sharp increase in inequality. Marcel Fratzscher examines the failures of the old economic paradigm and explores new ways to address inequality, in particular in the face of rapid technological change and globalisation.

ECB: Quo Vadis?

The European Central Bank has implemented a very ambitious monetary policy since the financial crisis of 2008, intervening heavily in the eurozone economies. This policy has generated substantial risks to both the ECB’s primary task and its independence. Sylvester C. W. Eijffinger and Lex H. Hoogduin recommend a fundamental evaluation of the ECB’s monetary policy strategy.


From the Next Issue

Forum: The Nordic Model of Economic Policy

with articles by Roberto Iacono, Jonathan Perraton, Elise Brezis and more

The Unifying Role of the Single Currency

by László Andor

The Impact of the Duration of the MFF

by Ákos Kengyel


Quote of the Month

The eurozone crisis is as much a tale of excess bank leverage and poor risk management in the core as of excess consumption and wasteful investment in the periphery.

from Simon Tilford and Christian Odendahl's Forum article Paradigm Shift in the Eurozone? The Market-Based Convergence Rationale


About Intereconomics – Review of European Economic Policy

Intereconomics is jointly produced by ZBW – Leibniz Information Centre for Economics and the Centre for European Policy Studies (CEPS). The journal appears bimonthly and features papers by economists that deal with economic and social policy issues and trends in Europe or affecting Europe. To submit a paper for publication, please visit the Submissions section of our website for relevant information.

Intereconomics is published by Springer-Verlag Berlin Heidelberg.

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Editorial Office

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