Chair of International Macroeconomics

Professor Dr. Beatrice Weder di Mauro







New Policy Report on Dept Redemption Pact and Eurobills

VOX EU article on the report  by Vesa Vihriälä, Beatrice Weder di Mauro, 2 April 2014  ECON Public Hearing - EU Parliament  Speaking notes for the hearing by Beatrice Weder di Mauro - 1 April 2014 - Brussels
Expert group on a debt redemption fund and eurobills


Conclusions of the expert group on a debt redemption fund and eurobills   Full report of the expert group on a debt redemption fund and eurobills  Annex to the report of the expert group on a debt redemption fund and eurobills 

02 July 2013 - See EUROPA Press Release

02 April 2014 - Beitrag in der Ökonomenstimme - Warum die Eurozone eine Insolvenzordnung für Staaten braucht

12 November 2013 -  VOX EU - Revisiting sovereign bankruptcy - by Lee C. Buchheit , Beatrice Weder di Mauro, Anna Gelpern, Mitu Gulati, Ugo Panizza, Jeromin Zettelmeyer,


REVISITING SOVEREIGN BANKRUPTCY -- CIEPR REPORT - OCTOBER 2013

CIEPR - Committee on International Economic Policy and Reform

Lead Authors: Lee C. Buchheit, Anna Gelpern, Mitu Gulati, Ugo Panizza, Beatrice Weder di Mauro, Jeromin Zettelmeyer

Sovereign debt crises occur regularly and often violently. The recent debt crisis in Greece almost led to the collapse of the Euro. Yet there is no legally and politically recognized procedure for restructuring the debt of bankrupt sovereigns. Procedures of this type have been periodically debated— most recently, about a decade ago, when IMF management proposed a global sovereign debt restructuring mechanism (SDRM). They have so far been rejected. Countries have been reluctant to give up power to supranational rules or institutions. Creditors and debtors have felt that there were sufficient instruments for addressing debt crises at hoc. Importantly, there were also fears that making debt easier to restructure would raise the costs and reduce the amounts of sovereign borrowing in many countries. This was perceived to be against the interests of both the providers of both creditors and major borrowers.
This year’s CIEPR report argues that both the nature and our understanding of sovereign debt problems have changed in ways that create a much stronger case for an orderly sovereign bankruptcy regime today than ten years ago.

Read more at BROOKINGS (here)






IMF - G20 Report


G20 Report

The IMF’s Report to the G-20 and Background Material Stijn Claessens, Michael Keen, Ceyla Pazarbasioglu September 2010 I n t e r n a t i o n a l M o n e t a r y F u n d At their September 2009 Pittsburgh Summit, G20 Leaders requested the International Monetary Fund to prepare a report on how the financial sector could make a ‘fair and substantial contribution’ to meeting the costs associated with government interventions to repair it. In response, a talented team of Fund experts was assembled, recognizing both the topic’s importance and the analytical challenge it posed. The question of how best to reconfigure the tax system to serve this purpose – while aligning it with a regulatory regime that itself is under significant reforms – goes to the core of the difficulties faced in dealing with financial system failures. Surprisingly, previous academic work and policy debates provided very little guidance in this critical subject.




Whither growth in central and eastern Europe?

Whither growth in central and eastern Europe? Policy lessons for an integrated Europe Blueprint, 24 November 2010 (www.bruegel.org) In this Blueprint, Bruegel Resident Fellows Zsolt Darvas, Jean Pisani-Ferry, Andre Sapir and their co-authors Torbjörn Becker, Daniel Daianu, Vladimir Gligorov, Michael A Landesmann, Pavle Petrovic, Dariusz K. Rosati and Beatrice Weder di Mauro argue that in view of the depth of integration in Europe, the development model of the central, eastern and south-eastern Europe (CESEE) region, despite its shortcomings, should be preserved. But it should bereformed, with major implications for policymaking both at national and EU levels. If so, what are the required changes? Bruegel and The Vienna Institute for International Economic Studies (wiiw) cooperated to form this expert group of economists from various European countries to research these issues.


 












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