ECB, (2018), “Annual Report 2017”, April In 2017, the economic recovery in the euro area developed into a solid and broad-based expansion. The economy grew by 2.5% and by the end of the year had recorded 18 straight quarters of growth. This represented the strongest expansion for a decade, and the broadest for two decades. The dispersion of growth rates among euro area countries fellto its lowest level since the start of Monetary …Read More
Fostering Institutional Investment in Europe’s Capital Markets: Reality vs. Expectations
Cosmina Amariei, (2018), “Fostering Institutional Investment in Europe’s Capital Markets: Reality vs. Expectations”, 2nd Interim Report of the CEPS-ECMI Task Force on Asset Allocation in Europe, ECMI, Brussels, 11 April The capacity of insurance companies and pension funds to fulfil their financial obligations to policy holders and beneficiaries continues to be under scrutiny, with additional challenges posed by the prolonged low yield environment and the path towards normalisation of monetary policy …Read More
The European Dimension of Regional and Cohesion Policies
Daniel Gros, Roberto Musmeci and Marta Pilati, (2018), “The European Dimension of Regional and Cohesion Policies”, working paper 3, CEPS, Brussels and Laboratorio LUISS sul Mezzogiorno, December 2017 This contribution analyses the state of regional convergence within the European context. It finds that different country groups have had quite different experiences following the financial crisis and that in most cases there has been little convergence across regions within countries. More importantly, the …Read More
Are European firms falling behind in the global corporate research race?
Reinhilde Veugelers, (2018), “Are European firms falling behind in the global corporate research race?”, bruegel, 12 April Over the last decade, there has been little evidence for increasing concentration in the global R&D landscape. On the contrary, a slight decline is discernible. Slight increasing concentration can only be detected in digital sectors, with in particular the top 1 percent of R&D spending firms in these sectors forging ahead. Although the overall …Read More
How has the first year of the Brexit negotiations affected politics in the EU?
Nicola Chelotti, (2018), “How has the first year of the Brexit negotiations affected politics in the EU?”, LSE EUROPP, 12 April The Brexit negotiations have coincided with a period of high political uncertainty in the EU27. Across Europe, governments are being confronted with significant challenges, including controversial constitutional reforms (in Poland and Hungary), the persistence of euroscepticism and the continuing (albeit diminished for the moment at least) impact of the …Read More
Is Europe’s Productivity Glass Half Full or Half Empty?
Bart van Ark, Klaas de Vries, Kirsten Jäger, (2018) “Is Europe’s Productivity Glass Half Full or Half Empty?”, Intereconomics, March/April The global economic and financial crisis left the European economy in dire straits for almost a decade between 2008 and 2016. Despite the recent growth strengthening, which has brought average GDP growth rates for the euro area and the EU as a whole about back to their pre-crisis levels, it …Read More
A stronger euro area through stronger institutions
Lorenzo Bini Smaghi, (2018), “A stronger euro area through stronger institutions”, Vox, 09 April A team of French and German economists recently proposed on this site a series of reforms to strengthen the euro area’s institutional framework. This column, which joins VoxEU’s Euro Area Reform debate, argues that while the proposals form a useful basis for discussion, they are nevertheless subject to important shortcomings. Relevant Posts Jean Pissany Ferry, (2018), «The …Read More
Blind spots and unintended consequences of the 14 economists’ Policy Insight
Sebastian Dullien, (2018), “Blind spots and unintended consequences of the 14 economists’ Policy Insight”, VoxEU, 11 April The recently published CEPR Policy Insight by a team of French and German economists proposes a package of reforms to make progress on risk sharing and risk reduction in the euro area. This column, which forms part of VoxEU’s Euro Area Reform debate, argues that while many of the package’s elements make sense, it …Read More
Italy: First European Country In The Hand Of Populists?
Maurizio Cotta, (2018) “Italy: First European Country In The Hand Of Populists?” 9 March The general assumption was that the political and parliamentary landscape of Italy would become more complex after the 2018 elections. However, quite unexpected was the major political earthquake the vote has triggered. Relevant Posts Andres Velasco, (2018), «Why Economic Recovery Won’t Defeat Populism», Project Syndicate, 25 January Silvia Merler, (2018), «The Italian elections», Bruegel, 26February
A history of the European core and its periphery: How an optimal currency area forms
Nauro Campos, Corrado Macchiarelli, (2018), “A history of the European core and its periphery: How an optimal currency area forms”, VoxEU, 12 March The concepts of core and periphery remain ubiquitous and elusive in the European integration debate. This column documents the formation and evolution of a core and periphery in EMU, unearthing an increasingly integrated core, an entrenched periphery, and a third set of countries marked by in-and-out movements. …Read More