Le blog du CEPII

Six pack: the case for a simplified scoreboard

 PostNovember 14, 2012
By Laurence Nayman, Sophie Piton, Agnès Bénassy-Quéré
In December 2011, the ‘six pack’ introduced a new surveillance procedure of macroeconomic imbalances at the European level. However, the ten indicators used for the early warning of imbalances do not seem much more relevant than the simple indicator of the current account balance.

The case for the ECB sovereign bonds purchases

 PostJuly 10, 2012
By Urszula Szczerbowicz
On Thursday July 5th the ECB decided to cut its main refinancing rate to 0.75%, for the first time crossing the historical low of 1%. More importantly, it reduced the overnight deposit facility rate to 0%. In doing so, the ECB encouraged banks to transform the liquidity received via two 3-year LTROs into credit to companies and households, instead of keeping it at the ECB deposit facility.

Eurobonds: a way to act swiftly

 PostJune 5, 2012
By Agnès Bénassy-Quéré
The Eurozone is facing three intertwined and mutually reinforcing crises: a sovereign debt glut, banks’ financial fragility and dampened growth prospects. Further fiscal and political integration seems to be the only way to address these issues.

Don’t let the Eurozone crisis go East

 PostApril 4, 2012
By Asia-Europe Economic Forum
The eurozone crisis presents a risk for Asian economies. Mainly, the crisis could spread through trade and various financial channels.Yet, economic impact of spillovers is not the only reason why Asia has a specific interest in the survival of the euro.

The international monetary system needs the euro

 PostJanuary 12, 2012
By Agnès Bénassy-Quéré
With the survival of the euro area at stake, and the reform of the international monetary system no longer a priority of the G20 presidency, it may seem strange to call for an increased international role of the euro.

China in the WTO: an assessment

 PostDecember 22, 2011
By Françoise Lemoine
China joined the WTO in December 2001. China and its partners had been negotiating the conditions of its accession since 1987 with two fundamental goals: integrate China into the global economy and anchor the process of domestic economic reforms and opening up.

International specialization: a focus on services

 Facts & FiguresDecember 19, 2011
By Colette Herzog, Deniz Ünal
The specialization of countries in international trade reveals their comparative advantages and disadvantages. The CHELEM database which provides complete and consistent statistics classified by country in the long term is used to analyze the structural aspect of the competitiveness of nations in all economic sectors, namely the primary sector, industry and services.

CEPII's Well Being Indicator

 Facts & FiguresDecember 19, 2011
By Michel Fouquin
Although economists have long stressed the limitations of using GDP to evaluate standards of living, the debate was recently reignited by the publication of the Stiglitz report. The CEPII has proposed to calculate an indicator for the year 2009 and 34 countries incorporating certain social data items in terms of income equivalents.

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