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Examples of economic analysis - the Generation ?uro Students' Award

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What you have to do…<br />

– These are <strong>of</strong>ten called “noise” by statisticians and economists<br />

– Instead, you need to correctly interpret underlying price signals that emerge from <strong>the</strong> very<br />

structure <strong>of</strong> <strong>the</strong> <strong>economic</strong>, monetary and financial systems<br />

4 th , what is your geographic domain?<br />

– It is <strong>the</strong> e<strong>uro</strong> area as a whole: i.e., considering it as a single geographic entity<br />

– Some comments on <strong>the</strong> concept <strong>of</strong> <strong>economic</strong> and financial integration.<br />

– At <strong>the</strong> same time <strong>the</strong> <strong>analysis</strong> <strong>of</strong> heterogeneity and/or persistent imbalances has acquired<br />

greater prominence in recent years (but is not going to be that relevant for your Essay)<br />

5 th, now imagine that you were <strong>the</strong> President <strong>of</strong> <strong>the</strong> ECB and thus <strong>the</strong> Chair <strong>of</strong> <strong>the</strong> Governing<br />

Council …<br />

– you would be commanding one <strong>of</strong> <strong>the</strong> greatest pr<strong>of</strong>essional and also intellectual armies in <strong>the</strong><br />

world<br />

– basically all types <strong>of</strong> data, statistics, information, facts about <strong>the</strong> e<strong>uro</strong> area economy would be<br />

available to you as well as all o<strong>the</strong>r Governing Council members<br />

– moreover, you would have at your disposal <strong>the</strong> best <strong>economic</strong> and monetary <strong>analysis</strong> possible<br />

for <strong>the</strong> e<strong>uro</strong> area.<br />

– it is also important to note that this wealth <strong>of</strong> data and information is also available to all<br />

beyond <strong>the</strong> E<strong>uro</strong>system, i.e., it is “publicly available information”

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