Quantitative Easing in Eurozone in 2016

The ECB started buying assets from commercial banks in March 2015 as part of its non-standard monetary policy measures. These asset purchases, also known as quantitative easing or QE, support economic growth across the euro area and help us return to inflation levels below, but close to, 2%. (Source: European Central Bank)

Under the leadership of Sylvain Broyer, Head of Macro Economic Research at Natixis in 2015, I wrote my master thesis about the impact of the Quantitative Easing on the Eurozone household saving rate. Kindly follow this link or download the report below to read the full report in French!

“Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.”

Mario Draghi, European Central Bank President from 01/11/2011 to 31/10/2019
Eurotower (Frankfurt am Main)

Scenarios in Greece in 2015

While still in a student at Ecole Centrale Marseille, Florian Lanvin and I published an article in the the daily French financial newspaper, Les Echos. Based on Acemoglu and Robinson research papers (the two economists describe the transition mechanisms of political regimes), we determined 3 potential political scenario for the country. The article is available online here. We want to sincerely thank Roland Couture to allow us to share our thoughts!

“We develop a theory of political transitions inspired by the experiences of Western Europe and Latin America. Nondemocratic societies are controlled by a rich elite. The initially disenfranchised poor can contest power by threatening revolution, especially when the opportunity cost is low, for example, during recessions. The threat of revolution may force the elite to democratize. Democracy may not consolidate because it is redistributive, and so gives the elite an incentive to mount a coup. Highly unequal societies are less likely to consolidate democracy, and may end up oscillating between regimes and suffer substantialfiscal volatility. (JEL D72, D74, 015, P16)”

DARON ACEMOGLU and JAMES A. ROBINSON, A Theory of Political Transitions (2001)

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