Author Archives: ADEMU

POLICY BRIEF: The political economy of policy implementation


  • To examine how modern monetary systems create opportunities for rent-seeking in the public and private sectors
  • Creating a policy framework to address the main issues, with a focus on the rentseeking and banking sectors

By David K. Levine and Andrea Mattozzi, European University Institute

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ADEMU explained: The European Stability Mechanism – the path to reform, video with Giorgio Monti

Giorgio Monti describes a potential path to reform of the European Stability Mechanism in this short video.  Continue reading

POLICY BRIEF: The European Stability Mechanism and the path to reform


  • To evaluate the current functioning and design of the European Stability Mechanism (ESM)
  • To provide a critical assessment of the proposals for reform

By Giorgio Monti, European University Institute

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POLICY BRIEF: Financial stability and the role of macroprudential policies


  • To analyse the trade-off between good and bad times created by macroprudential policies
  • To examine issues of international cooperation and coordination with monetary policy
  • To design the optimal macroprudential policy

By Radim Boháček, CERGE-EI, Charles University, Prague.

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Hugo Rodríguez Mendizábal

ADEMU explained: Banking union and the ECB, with Hugo Rodríguez Mendizábal

Hugo Rodríguez Mendizábal describes the functions of the European Central Bank and takes a look at narrow banking in this short video. Continue reading

POLICY BRIEF: Banking Union and the ECB


  • To assess the weaknesses of the current banking union, the European Central Bank design and implementation
  • To evaluate possible conflicts between the banking union, European Central Bank and national authorities
  • To recommend improvements and alternatives

By Hugo Rodriguez, Instituto de Análisis Económico (CSIC), MOVE and Barcelona GSE.

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POLICY BRIEF: Reassessing tax policies and tax coordination: The case for a tax on automation


  • Assessing the positive and negative impacts of automation on employment
  • Analysing how appropriate taxation may be used to compensate those negatively impacted
  • Understanding how an appropriate policy could be implemented

By Pedro Teles

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ADEMU explained: Stimulus packages? Better be persistent! Video with Patrick Fève and Martial Dupaigne

Patrick Fève and Martial Dupaigne explain why stimulus packages in the economy need to be persistent to be effective in this short video.  Continue reading

POLICY BRIEF: Stimulus packages? Better be persistent!


  • To understand whether fiscal stimulus is effective in stabilising the economy
  • To analyse how persistence of government spending affects the size of the fiscal multiplier

By Martial Dupaigne and Patrick Fève, Toulouse School of Economics

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