This joint publication brings together the papers produced as part of the first collaboration between Bruegel and the OCP Policy Center. Within the theme of “Seven Years after the Crisis: Intersecting Perspectives” our two organisations launched a “Platform for Advanced & Emerging Economies Policy Dialogue” in Rabat on 1 April 2016.
Many in the EU look to the USA as a model for monetary union in the Eurozone. But how easy was it to create such a union, and what can Europe learn from the USA’s experience?
As a consequence of the global financial crisis, various initiatives have been taken in different jurisdictions to ensure the future resolvability of banks without massive use of public funds. In Europe, the BRRD introduced the concept of MREL, which is in the process of being defined.
This paper analyses empirically how increasingly close trade relations between China and Russia might affect the European Union.
Italy’s current system of centralised wage bargaining needs to be reformed. The system was designed without regard for the underlying industrial structure and geographical heterogeneity of the Italian economy. This has fostered perverse incentives and imbalances within Italy.
On 23 June, the UK voted to leave the European Union. What will the UK’s new relationship with the EU look like?
Since the end of 2014, inflation has been at or very close to zero. With very little ability to move the actual interest rate further into negative territory, the ECB has resorted to unconventional measures. The latest of these includes a programme to purchase corporate bonds, which started on 8 June 2016.
In 2015 the European Union adopted new rules seeking to implement a roam like at home regime for member states. This Working Paper highlights challenges in implementing roam like at home, and it provides insights on the economics of international mobile roaming.
The current European fiscal framework is inefficient and relies on indicators that are badly estimated. How can the rules be improved and what can a European fiscal council add to this?
Research which explores unchartered waters has a high potential for major impact but also carries a higher uncertainty of having impact. Such explorative research is often described as taking a novel approach. This study examines the complex relationship between pursuing a novel approach and impact.
The Blueprint provides a review of the first 18 months of European banking supervision. It reviews the overall situation and the situation in a number of euro-area countries. It provides important insights into the start of a new policy regime that involves profound change for the European banking landscape
Essay / Lecture
In this essay, Jeffry Frieden looks at the process of creating a monetary union in the United States and draws lessons for the EU.