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Details about Cinzia Alcidi

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Postal address:1, Place du Congres B-1000 Brussels
Workplace:Centre for European Policy Studies (CEPS), (more information at EDIRC)

Access statistics for papers by Cinzia Alcidi.

Last updated 2017-08-29. Update your information in the RePEc Author Service.

Short-id: pal347


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Working Papers

2016

  1. Assessing the Euro Area’s Shock-Absorption Capacity - Risk sharing, consumption smoothing and fiscal policyAbstract: Based on a combination of quantitative analysis and a qualitative forward-looking approach, this paper assesses both the state of play and the future capacity of the EMU to respond and adapt to asymmetric shocks. The objective is to provide a basis upon which to gauge the potential value added of a European Unemployment Benefit Scheme (EUBS), against the background of the recent plans for the Banking Union, the Capital Markets Union and the reform of the fiscal governance framework. We find that the capacity of the system to deal with asymmetric shocks (and in principle reduce their occurrence) is likely to increase due to these changes; but it will remain limited in the medium term and certainly lower than in the US. We also argue that given the broad pro-cyclicality of fiscal policy, the idea that national policies alone can deal alone with asymmetric shocks is not realistic. Lastly, we maintain that an ex-ante fiscal insurance mechanism can provide some degree of income smoothing and is likely to catalyse market insurance. Fiscal and market insurance can reduce the role of credit and borrowing, which until now has been the main channel for shock absorption in the euro area but also the least effective in times of crisis. We conclude that, from a macroeconomic point of view, an EUBS is a useful tool to improve shock absorption capacity and is not mutually exclusive with market risk sharing. This report was prepared in the context of a research project on “The Feasibility and Added Value of a European Unemployment Benefits Scheme”, commissioned by DG EMPL of the European Commission and carried out by a consortium of researchers led by CEPS. It is published by CEPS with the kind permission of the European Commission
    CEPS Papers, Centre for European Policy Studies Downloads
  2. Is there a need for additional monetary stimulus? Insights from the original Taylor Rule
    CEPS Papers, Centre for European Policy Studies Downloads

2015

  1. China’s slowdown: When the dragon catches the flu, Europe sneezes
    CEPS Papers, Centre for European Policy Studies Downloads
  2. The Greek economy is unlikely to benefit from further devaluation
    CEPS Papers, Centre for European Policy Studies Downloads
  3. The Greek elections and the third bailout programme: Why it could work this time round
    CEPS Papers, Centre for European Policy Studies Downloads

2014

  1. Enhancing the Legitimacy of EMU Governance
    CEPS Papers, Centre for European Policy Studies Downloads
  2. Exit State-of-play in Implementing Macroeconomic Adjustment Programmes in the Euro Area
    ROME Working Papers, ROME Network Downloads View citations (3)
  3. Implementation of the Macroeconomic Adjustment Programmes in the Euro Area: State-of-Play
    CEPS Papers, Centre for European Policy Studies Downloads View citations (9)
  4. Implications of EU Governance Reforms: Rationale and Practical Application
    ETLA Reports, The Research Institute of the Finnish Economy Downloads View citations (2)
  5. State-of-Play in Implementing Macroeconomic Adjustment Programmes in the Euro Area
    Ruhr Economic Papers, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen Downloads View citations (9)
    Also in Annual Conference 2014 (Hamburg): Evidence-based Economic Policy, Verein für Socialpolitik / German Economic Association (2014) Downloads View citations (8)
  6. The Global Economy in 2030: Trends and Strategies for Europe
    CEPS Papers, Centre for European Policy Studies Downloads

2013

  1. Brazil and the EU in the Global Economy
    CEPS Papers, Centre for European Policy Studies Downloads
  2. Country adjustment to a ‘sudden stop’: Does the euro make a difference?
    European Economy - Economic Papers 2008 - 2015, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission Downloads View citations (13)
    See also Journal Article in International Economics and Economic Policy (2015)

2012

  1. Central Banks in Times of Crisis: The FED vs. the ECB
    CEPS Papers, Centre for European Policy Studies Downloads View citations (9)
  2. The Spanish Hangover
    CEPS Papers, Centre for European Policy Studies Downloads View citations (2)
  3. ‘Grexit’: Who would pay for it?
    CEPS Papers, Centre for European Policy Studies Downloads View citations (5)

2011

  1. Adjustment Difficulties and Debt Overhangs in the Eurozone Periphery
    CEPS Papers, Centre for European Policy Studies Downloads View citations (13)
    Also in Working Papers LuissLab, Dipartimento di Economia e Finanza, LUISS Guido Carli (2011) Downloads View citations (2)
  2. History repeating itself: From the Argentine default to the Greek tragedy?
    CEPS Papers, Centre for European Policy Studies Downloads View citations (2)

2009

  1. The Effect of Equity Market Integration on the Transmission Monetary Policy. Evidence from Australia
    IHEID Working Papers, Economics Section, The Graduate Institute of International Studies Downloads
  2. What lessons from the 1930s?
    MPRA Paper, University Library of Munich, Germany Downloads

2007

  1. ``Taylored'' Rules. Does One Fit All?
    Keele Economics Research Papers, Centre for Economic Research, Keele University Downloads

2006

  1. "Taylored rules". Does one fit (or hide) all?
    IHEID Working Papers, Economics Section, The Graduate Institute of International Studies Downloads View citations (3)

Journal Articles

2017

  1. The Stabilising Role of US Federal Fiscal Institutions — What Lessons for the Euro Area?
    Intereconomics: Review of European Economic Policy, 2017, 52, (3), 137-142 Downloads

2016

  1. Macroeconomic adjustment programmes in the euro area: an overall assessment
    International Economics and Economic Policy, 2016, 13, (3), 345-358 Downloads View citations (3)

2015

  1. Country adjustment to a ‘sudden stop’: does the euro make a difference?
    International Economics and Economic Policy, 2015, 12, (1), 5-20 Downloads View citations (5)
    See also Working Paper (2013)
  2. Currency Interventions: Effective Policy Tool or Shortsighted Gamble?
    Intereconomics: Review of European Economic Policy, 2015, 50, (2), 64-81 Downloads

2014

  1. Crisis-Induced Fiscal Restructuring in Europe
    Intereconomics: Review of European Economic Policy, 2014, 49, (6), 300-322 Downloads

2011

  1. Great recession versus great depression: monetary, fiscal and banking policies
    Journal of Economic Studies, 2011, 38, (6), 673-690 Downloads
  2. Policy Regime Changes, Judgment and Taylor rules in the Greenspan Era
    Economica, 2011, 78, (309), 89-107 Downloads View citations (40)

2010

  1. The impact of the financial crisis on the real economy
    Intereconomics: Review of European Economic Policy, 2010, 45, (1), 4-20 Downloads View citations (2)

2009

  1. Why Europe will suffer more
    Intereconomics: Review of European Economic Policy, 2009, 44, (4), 255-260 Downloads View citations (3)

2002

  1. On the Welfare Costs of Exclusion: the Case of Central Eastern Europe
    Rivista di Politica Economica, 2002, 92, (1), 179-208 Downloads

Chapters

2011

  1. euro zone crisis 2010
    Palgrave Macmillan Downloads View citations (4)
 
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