Will the current crisis trigger a revival of the IMF?
by Jean Pisani-Ferry on 31 October 2008
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Category: POLICY CONTRIBUTIONS
Topics: Currencies and International finance, European and global governance
In this Policy Contribution, Jean Pisani-Ferry, takes a look at the way the IMF his gradually making its come-back from an era of crisis confidence and legitimacy. The author believes the Fund could gain a significant role as the key institution that links macroeconomic and financial developments and draw implications for macrofinancial supervision, relying on others such as the FSF for implementation. He outlines a series of recommendations to reach this objective.
Empower users of financial information as the IASC Foundation‘s stakeholders
by Nicolas Véron on 10 July 2008
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Category: POLICY CONTRIBUTIONS
Topics: Financial markets and regulation, European and global governance
Nicolas Véron comments on the proposal for governance reform (‘constitution review‘) published in May 2008 by the IASC Foundation, the private-sector body which oversees the setting of International Financial Reporting Standards (IFRS). He emphasizes the unprecedented nature of this global governance experiment and advocates for more direct representation of investors as the primary stakeholders of international accounting standard-setting, as well a more thorough consultation process.
Policy-makers and the R&D-patent relationship
by , Bruno van Pottelsberghe on 29 May 2008
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Category: POLICY CONTRIBUTIONS
Topics: Research, innovation and growth
This policy contribution by Bruno von Pottelsberghe and Gaétan De Rassenfosse argue that the number of priority filings should be used as a patent-based measure of Europe‘s innovation performance. The paper identifies several policies that may affect the R&D-patent relationship.
Fair value accounting is the wrong scapegoat for this crisis
by Nicolas Véron on 29 May 2008
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Category: POLICY CONTRIBUTIONS
Topics: Financial markets and regulation
The ongoing financial crisis has revived the longstanding debate about fair value accounting. This policy contribution by Nicolas Véron argues that in times of market disruption, no accounting standards could lead to consensual outcomes, and that fair value remains better than proposed alternatives. Rather than reducing its scope, policymakers should focus on capital requirements standards (Basel II), where the negative effects of ‘pro-cyclicality‘ are concentrated.
Progressive governance and globalisation
by Jean Pisani-Ferry on 29 April 2008
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Category: POLICY CONTRIBUTIONS
Topics: European and global governance
Jean Pisani-Ferry discusses the development of globalisation during the last decade and the challenges ahead. The speed and magnitude of the transformation affecting the world economy are larger than initially envisaged, while domestic policy reforms and redistribution have often been insufficient to cope with this adjustment challenge. Against this background, the definition of a renewed agenda that builds on the success of the initial one should be a priority for progressive governments. This paper was presented at the Progressive Governance Summit 2008.