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External Publication

Europe after Brexit

Europe after Brexit: A proposal for a continental partnership

This paper leaves aside the issue of EU reform and focuses on the desirable EU-UK relationship after Brexit. The authors argue that none of the existing models of partnership with the EU would be suitable for the UK. They propose a new form of collaboration, a continental partnership, which is considerably less deep than EU membership but rather closer than a simple free-trade agreement

By: Jean Pisani-Ferry, Norbert Röttgen, André Sapir, Paul Tucker and Guntram B. Wolff Topic: European Macroeconomics & Governance Date: August 29, 2016
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Policy Contribution

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The IMF’s role in the euro-area crisis: financial sector aspects

Nicolas Véron reviews in-depth the role played by the IMF in understanding the financial-sector dynamics of the euro-area crisis. The IMF was the first public authority to acknowledge the role of the bank-sovereign vicious circle and to articulate a clear vision of banking union as an essential policy response. At national level, the IMF’s approach to the financial sector was appropriate and successful in Ireland and Spain, more limited in the Greek Stand-By Arrangement, and less compelling in Portugal.

By: Nicolas Véron Topic: Finance & Financial Regulation Date: August 29, 2016
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External Publication

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Seven years after the crisis: intersecting perspectives

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.

By: Rim Berahab, Nuria Boot, Uri Dadush, Karim El Aynaoui, Karim El Mokri, Simone Tagliapietra, Karen E. Wilson, Guntram B. Wolff and Georg Zachmann Topic: Global Economics & Governance Date: August 19, 2016
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Podcast

Podcast

What can the eurozone learn from US monetary history?

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?

By: Bruegel Topic: Global Economics & Governance Date: August 12, 2016
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Policy Contribution

coverEuropean Parliament

Total assets versus risk weighted assets: does it matter for MREL?

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.

By: Bennet Berger, Pia Hüttl and Silvia Merler Topic: European Parliament, Finance & Financial Regulation Date: August 9, 2016
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Working Paper

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The China-Russia trade relationship and its impact on Europe

This paper analyses empirically how increasingly close trade relations between China and Russia might affect the European Union.

By: Alicia García-Herrero and Jianwei Xu Topic: Global Economics & Governance Date: July 14, 2016
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Policy Contribution

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An Italian job: the need for collective wage bargaining reform

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.

By: Alessio Terzi Topic: European Macroeconomics & Governance Date: July 6, 2016
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Podcast

Podcast

Brexit: what happens next

On 23 June, the UK voted to leave the European Union. What will the UK’s new relationship with the EU look like?

By: Bruegel Topic: European Macroeconomics & Governance Date: June 24, 2016
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Policy Contribution

screenshot-bruegel.org 2016-06-23 15-45-59European Parliament

The effectiveness of the European Central Bank’s Asset Purchase Programme

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.

By: Maria Demertzis and Guntram B. Wolff Topic: European Macroeconomics & Governance, European Parliament, Parliamentary Testimonies Date: June 23, 2016
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Working Paper

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Challenging prospects for roam like at home

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.

By: Georgios Petropoulos and J. Scott Marcus Topic: Innovation & Competition Policy Date: June 15, 2016
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Podcast

Podcast

European fiscal rules

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?

By: Bruegel Topic: European Macroeconomics & Governance Date: June 15, 2016
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External Publication

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Bias against novelty in science: a cautionary tale for users of bibliometric indicators

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.

By: Paula Stephan, Reinhilde Veugelers and Jian Wang Topic: Innovation & Competition Policy Date: June 9, 2016
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