Institute for Research in Economic and Fiscal issues

IREF Europe - Institute for Research in Economic and Fiscal issues

Fiscal competition
and economic freedom


Gordon Kerr, Kevin Dowd and Cavin O’Driscoll, with Enrico Colombatto

Articles by this author (7) :

How Will Europe Deal With Italian Fiscal Defiance?

How Will Europe Deal With Italian Fiscal Defiance?Background to the looming standoff between Italy and the ECB
Italy’s new government continues to confirm its commitment to fiscal policies which have triggered sensationalist reports in mainstream media questioning whether Italy can remain a Eurozone country. The alliance between Italy’s 5 (...)

Euro Survival Depends Upon Federalization — Policy Options

Euro Survival Depends Upon Federalization — Policy OptionsDespite our regular reports highlighting some of the challenges facing those tasked with managing the euro, public concern about government debt levels appears to have subsided to its lowest level since 2008. This low level of public awareness is due to a combination of factors; the natural (...)

What Impact Will The Open Banking Rules Have On Fintech’s Aspirations to Disrupt Traditional Banking?

What Impact Will The Open Banking Rules Have On Fintech's Aspirations to Disrupt Traditional Banking?Introduction
Given the tremendous success of technology companies in the last 15 years, nobody is surprised by the continuing enthusiasm among investors, entrepreneurs, and policymakers for disruptive financial technology (“fintech”). However, banking regulators and rule-makers have always (...)

An Appraisal of Sovereign Bond-Backed Securities

An Appraisal of Sovereign Bond-Backed SecuritiesDespite the widely held view that the European sovereign debt crisis, and the euro itself, have been stabilized, we are not alone in the opinion that the deep problems not only remain but have probably been exacerbated by the ECB’s actions. Far from being addressed, these problems have only (...)

The Looming Crisis in the Private Provision of Public Services
Close Parallels with the Systemic Failure of Banks

The Looming Crisis in the Private Provision of Public ServicesThe collapse in January of Carillion PLC, the UK’s second largest construction and outsourcing company has attracted considerable media coverage. Carillion was principally engaged in public sector contracts to build (and in some cases operate) hospitals, prisons, roads, and part of the new (...)

Our Outlook for 2018
Interest Rates To Stay Low. The Consensus View is that Europe’s Banks are Recovering but we are Not So Sure.

Our Outlook for 2018The Interest Rate Outlook
Despite their shortcomings, European banks do not seem on the verge of collapse and few commentators, analysts or policymakers think that there will be any systemic wobbles in 2018. We do not necessarily disagree; with ECB interest rates still zero to negative and a (...)

The Search for a New Risk-Free Rate

The Search for a New Risk-Free Rate The ECB has lost confidence in bank industry efforts to reform or replace Euribor; but finding a replacement, and designing transitional arrangements will not be a straightforward task. It also risks highlighting the uncomfortable truth that the volume of unsecured interbank lending is (...)

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