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Policy Contribution

European governance

Legal options for a green golden rule in the European Union’s fiscal framework

In this Policy Contribution, we compare these two proposals in terms of their treatment under the current EU fiscal rules, and analyse the legal options for their introduction in the EU fiscal framework. We start with a brief review of the rationale for a green golden rule and then discuss legal options.

By: Zsolt Darvas Topic: European governance, Green economy Date: July 12, 2022
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Policy Contribution

An analysis of central bank decision-making

An earlier version of this paper was presented at ‘The MPC at 25’, a conference organised by the United Kingdom’s National Institute of Economic and Social Research, in London, 30 March 2022 The process by which central banks take decisions has evolved over the years, with a tendency towards independence and decisions taken by committees […]

By: Maria Demertzis, Catarina Martins and Nicola Viegi Topic: Banking and capital markets Date: July 11, 2022
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Working Paper

The role of competition in the transition to climate neutrality

Consumers need to reduce their carbon footprint by replacing carbon-intensive by carbon-neutral consumption, which implies buying the appliances that allow them to do so. Workers and capital need to move from brown to green sectors.

By: Georg Zachmann Topic: Green economy Date: June 29, 2022
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Policy Contribution

How can the European Union adapt to climate change?

A stronger adaptation governance framework would benefit adaptation efforts.

By: Klaas Lenaerts, Simone Tagliapietra and Guntram B. Wolff Topic: Green economy Date: June 28, 2022
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Working Paper

Measuring macroeconomic uncertainty during the euro’s lifetime’

The basic idea is that observable forecasts of macroeconomic variables are transformations of the sets of macroeconomic information, which are so complex as to be unobservable, prevailing when the forecasts are made.

By: Monika Grzegorczyk and Francesco Papadia Topic: Macroeconomic policy Date: June 20, 2022
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Policy Contribution

How to make the EU Energy Platform an effective emergency tool

The EU Platform could become an effective emergency tool to safeguard Europe’s security of gas supply in case of a sudden interruption of Russian gas flows, but policymakers need to address challenges to make it work.

By: Walter Boltz, Klaus-Dieter Borchardt, Thierry Deschuyteneer, Jean Pisani-Ferry, Leigh Hancher, François Lévêque, Ben McWilliams, Axel Ockenfels, Simone Tagliapietra and Georg Zachmann Topic: Green economy Date: June 16, 2022
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Policy Contribution

COVID-19 and the shift to remote work

The post-pandemic new normal is sure to differ both from the pre-pandemic normal and from current arrangements. Hybrid arrangements in which part of the week is spent at the office, and part at home, are likely to become the norm.

By: J. Scott Marcus Topic: Digital economy and innovation Date: June 16, 2022
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Working Paper

Raising EU productivity through innovation: Lessons from improved micro data

Combining recent unique firm-level data and state-of-the art research methodologies, MICROPROD research provides a better overview of which firms are most likely to adopt digital technologies and to innovate, and to turn these investments into productivity growth.

By: Reinhilde Veugelers and Frederic Warzynski Topic: Digital economy and innovation, Macroeconomic policy Date: June 13, 2022
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External Publication

European governanceEuropean Parliament

Fragmentation risk in the euro area: no easy way out for the European Central Bank

The ECB should design a specific tool that will accompany interest rate hikes to neutralise the risk of fragmentation directly for countries facing it, staying within the bounds of the EU treaties and ensuring political legitimacy. We also advocate structural changes to the ECB’s collateral framework to avoid unnecessary uncertainty surrounding the safe asset status of European sovereign bonds.

By: Maria Demertzis, Grégory Claeys and Lionel Guetta-Jeanrenaud Topic: European governance, European Parliament, Testimonies Date: June 8, 2022
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Policy Contribution

Inclusive growth

Policies to support the self-employed in the labour markets of the future

A review of changes in the way we work and discuss the need to update worker classification exploring the rationale and options for extending protection against discrimination and harassment, and the right to collective action, to more workers, also discussing the special case of platform work.

By: Martin Gruber-Risak, Vassilis Hatzopoulos and Diane Mulcahy Topic: Inclusive growth Date: June 7, 2022
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Working Paper

Technology, trade, work councils and income distribution: new insights from MICROPROD

Using various micro datasets, Work Package 5 of the MICROPROD project made significant contributions to our understanding of the distributive implications of trade and technological change.

By: Zsolt Darvas Topic: Macroeconomic policy Date: May 31, 2022
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External Publication

Economics of access to energy

This chapter discusses the key obstacles that have so far prevented 840 million people worldwide from gaining access to electricity.

By: Giacomo Falchetta and Simone Tagliapietra Topic: Green economy Date: May 30, 2022
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