Today @EP_Economics of 🇪🇺 Parliament discusses with ECB President Lagarde the Capital Markets Union (CMU). This paper summarizes CMU progress in recent years (it was demure!); the steps identified by Eurogroup, ECB, @EnricoLetta & Draghi Report; and why this matters for ECB🧵 I start with a discussion where we are today. Despite all the big words, the progress on the CMU in the past decade was … demure! (this trending word actually means „reserved, modest”, exactly the type of progress the CMU has had). 2/n
europarl.europa.eu/cmsdata/288799…

Silvana Tenreyro has been arguing for a while that negative interest rates are a *feasible* AND *efficient* way to stimulate the economy and this speech from her is the best summary so far I have seen about it. Main points are: 1/
theguardian.com/business/2021/… "The financial-market channels of monetary policy transmission have worked effectively under negative rates in other countries". That is, negative rates lower cost of capital,depreciate the exchange rate & increase asset prices, all of which increase investment and consumption 2/

If you are interested in the topic of public perceptions & beliefs, views towards redistribution & economic policy and populism, here is a long thread inspired by some exciting recent research by @S_Stantcheva (as presented at #eubef19) and by Guido Tabellini in Milano. 1/22 The message of @S_Stantcheva superb TED Talk: researchers should “listen” to people & gather information about their perceptions & views – using rigorous large online surveys, that are well-designed & targeted - that can help devise optimal policies 2/22