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The €-coin indicator gained for the third straight month in February, rising from 0.16 to 0.23. The rise was due in part to the moderate expansion of economic activity registered in the fourth quarter of last year and in part to a broad-based improvement in household and business confidence.
Two projects led by CEPR researchers were successful in obtaining grants from the Fondation this year. The successful projects are ‘Bank Ratings and Lending Supply: Evidence from Sovereign Downgrades’, led by CEPR Research Fellow Miguel Ferreira and Manuel Adelino, and ‘Central Bank Communication and Inflation Expectations’, led by CEPR Research Affiliate Michael McMahon.
This update lists all the CEPR Discussion Papers uploaded to in the last week. Journalists are entitled to free access on request; if you have not yet registered, please contact
Youth unemployment has been Europe’s most sensationalised symptom of the Global Recession. It has left the economy with no place for the restless young. But the problem is endemic in Europe – it goes back much further than 2008. Policymakers have prescribed many solutions, none of which has made systemic corrections, not least because of the heterogeneity of the characteristics and policy choices of European economies. This eBook reviews the policy lessons from recent experiences with the aim of (i) improving the transition from school to work; (ii) fostering the creation of more jobs for young people; and (iii) increasing the wellbeing of youths overall. To do so, it focuses on specific country experiences, ranging from those that have been successful in respect to the above aims to others that have performed much worse. The eBook also looks at the prospects for the recently proposed Youth Guarantee as a new ‘Marshall Plan’ from the European Commission regarding a global solution to youth joblessness.
CEPR, together with Assonime, have set up a new network and started a major research programme aimed at identifying the causes of the investment dearth in Europe. The research involves a broad ranging examination of the financing of the European corporate sector and seeks to distinguish between supply-side and demand-side factors and between cyclical and structural determinants.