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Michel Aglietta
Yves-Emmanuel Bara
Maria Bas
Agnès Bénassy-Quéré
Antoine Berthou
Céline Carrère
Benjamin Carton
Matthieu Crozet
Christophe Destais
Lionel Fontagné
Michel Fouquin
Jean Fouré
Julien Gourdon
Olena Havrylchyk
Colette Herzog
Sébastien Jean
Marc Joëts
Svetlana Ledyaeva
Françoise Lemoine
Stéphane Lhuissier
Valérie Mignon
Cristina Mitaritonna
Laurence Nayman
Marcelo Olarreaga
Gianluca Orefice
Sophie Piton
Urszula Szczerbowicz
Deniz Ünal
Natacha Valla
Guanghua Wan

Volatility and uncertainty are not the same!

Money & Finance | Environment & Natural Resources 
Post, May 4, 2015
By Valérie Mignon, Marc Joëts, Tovonony Razafindrabe
Crude oil price volatility is often viewed as reflecting uncertainty not only related to the oil market, but also to the global macroeconomic environment. However, the question arises as to whether uncertainty is not likely to be at play without generating high volatility on the oil market.
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Back to the Great Moderation?

Competitiveness & Growth 
Post, April 30, 2015
By Stéphane Lhuissier
Following the largest financial shock since the Great Depression, modern industrial countries appear to be coming back to a moderate growth trajectory, as was the case for the last three decades.
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Regulatory coherence is more easily said than done

Trade & Globalization 
Post, April 23, 2015
By Sébastien Jean
Regulatory coherence is claimed to be the core of the potential economic stakes in the TTIP. As the 9th Round of Negotiations is being convened in New York City, time has come for discussions to take a more concrete form.
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Europe is trapped by its competitiveness obsession

Europe | Competitiveness & Growth 
Post, April 22, 2015
By Sébastien Jean
While European external surpluses are accumulating and domestic demand is slacking, insisting on improving the Union’s external competitiveness, as some in the Commission are presently doing, is paradoxical. For Europe, the paramount risk is not losing its competitiveness. It is not recovering cohesion and growth.
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QE - "European style": be bolder, but parsimonious!

Money & Finance 
Post, March 24, 2015
By Urszula Szczerbowicz, Natacha Valla
The ECB will purchase a monthly €60bn of private and public debt instruments between March 2015 and September 2016 – a total worth over €1 trillion. While the timing and size of purchases are known, there is more leeway than it seems in the way purchases are allocated to each category of assets.
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Quantitative Easing: were markets surprised?

Money & Finance | Europe | Economic Policy 
Post, January 24, 2015
By Stéphane Lhuissier
The ECB has announced that it will launch in March its first round of quantitative easing. The announcement contains some good and bad surprises: the size of the ECB's plan is gigantic, while the Central Bank was unclear about the Greek issue. How was this announcement perceived by markets?
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ECB equity purchases: too risky, really?

Money & Finance | Europe 
Post, January 9, 2015
By Urszula Szczerbowicz, Natacha Valla
Instead of buying sovereign debt, the ECB could broaden further its purchases to include equity of all sorts. Fuelling an equity bubble is no worse than fuelling a bond one. It can be mitigated by intervening secretly and including non listed securities. Inhibitions to take risk should be lifted.
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Best wishes for 2015 !

Post, December 23, 2014
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Long live the Juncker Plan!

Europe | Economic Policy 
Post, December 21, 2014
By Natacha Valla
The long awaited Juncker Plan for investment in Europe has arrived a few weeks ago. Beyond the creation of a Strategic Fund, the Plan as a whole has disappointed: not adamant enough to eliminate the deep obstacles to cross-border investment, and opaque in generating the “List” of projects to be financed. Yet, even imperfectly, Europe has now done its homework.
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Is China finally inhaling the smoke of international financial markets?

Emerging Countries | Money & Finance 
Post, December 16, 2014
By Christophe Destais
The recycling of current account and/or financial account surpluses through the accumulation of foreign exchange reserves by emerging countries after the 1999-2001 crisis, particularly by China, has been described as “smoking but not inhaling in international financial markets”.
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