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The Brussels-based economic think tank
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29 мая, 20:00

An uncompromising budget

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Apart from decisive European Central Bank measures, the EU-wide response to the COVID crisis had been rather weak until the Commission put on the table a drastically new proposal: the creation of a new recovery facility, ‘Next Generation EU’, that would borrow money in the name of the EU to finance EU-wide expenditures. The changes to the proposed standard seven-year budget that primarily focuses on long-term structural issues are however generally small, and funding reductions are compensated by new funds from the recovery instrument, suggesting that an opportunity is missed to reform the EU budget.

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27 мая, 11:06

COVID-19 and India: economic impact and response

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This piece was published the day before India imposed one of the world's strictest lockdowns in its response to the COVID-19 response. It remains relevant in assessing the government's actions in the ten weeks that have since passed.

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26 мая, 12:56

An equity fund for a zombie-free and EU-wide recovery

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Four guiding principles can help ensure a well designed EU equity fund.

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25 мая, 19:02

Reading tea leaves from China’s two sessions: Large monetary and fiscal stimulus and still no growth guarantee

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The announcement of a large stimulus without a growth target indicates that China’s recovery is far from complete.

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20 мая, 13:09

The European Union’s SURE plan to safeguard employment: a small step forward

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The new EU instrument to mitigate unemployment risks during an emergency (SURE) is too modest to have a significant impact the COVID-19 crisis beyond being a first step in the overall recovery plan.

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19 мая, 16:52

How will COVID-19 impact Brexit? The collision of two giant policy imperatives

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The United Kingdom left the European Union on Jan. 31, 2020. Now, the U.K. must decide whether and how to extend the transition period, currently set to expire at the end of 2020.

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15 мая, 13:38

Save markets to save the single market

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It’s time for the EU to make quick and indispensable progress in forming a capital markets union.

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12 мая, 16:36

Navigieren auf Sicht ist für einen grünen Wiederaufschwung nicht genug

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This opinion piece was originally published in NZZ. Die Coronavirus-Pandemie und die Massnahmen zu ihrer Bekämpfung haben zum grössten weltweiten Wirtschaftsabschwung seit dem Zweiten Weltkrieg geführt. Unternehmen, private Haushalte und der Staat navigieren in dieser Situation grosser Unsicherheit auf Sicht. So werden Entscheidungen in Unternehmen und Familien möglichst vertagt, bis man wieder klar sehen kann. […]

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12 мая, 11:52

The message in the ruling

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The German Constitutional Court's ruling on the ECB's asset purchase programme is open to much criticism but it can hardly be blamed for raising an important question.

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07 мая, 19:23

Risking their health to pay the bills: 100 million Europeans cannot afford two months without income

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Nearly 100 million people in 21 EU countries do not have enough savings in their bank accounts to meet two months of basic expenses: food, utilities, rent or mortgage. Those born outside the EU are especially at risk. Government support is thus fundamental to help individuals withstand the COVID-19 crisis.

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07 мая, 19:09

Banking regulation in the Euro Area: Germany is different

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Despite progress in recent years towards a single banking policy framework in the euro area – a banking union – much of the German banking system has remained partly sheltered from uniform rules and disciplines that now apply to nearly all the area’s other banks. The resulting differences in regulatory regimes could generate vulnerabilities in the still-incomplete banking union, which is being tested in the context of the COVID-19 pandemic.

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05 мая, 13:33

The impact of COVID-19 restrictions on individual mobility

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Distancing measures imposed by twelve European countries during the COVID-19 pandemics (a ban on holding public events, school closures, shop closures, and a ban on non-essential movement) were associated with large drops in visits to retail and recreation, groceries and pharmacies, transit stations, and workplaces, drops in visits to parks in most cases, and an increase in time spent at home. These effects, measured and disentangled in our analysis, have implications for the costs and risks of closing and re-opening economies: distancing policies (i) reduced contact and likely reduced the transmission of COVID-19 within the population, implying gains for public health, while they (ii) reduced presence at workplaces, shops, restaurants and other venues of economic activity, implying economic costs.