The Bruegel annual report provides a broad overview of the organisation's work in the previous year.
After almost two decades of unproductive regional cooperation attempts, the EU should reshape its energy cooperation efforts in the Mediterranean through new bilateral approaches
The current unsustainable use of our environment can lead to financial crisis. To address this risk, financial institutions should measure their exposure to ecological imbalances using methodologies such as carbon and natural capital accounting.
This Policy Contribution examines the EU’s struggle to improve its capacity for innovation, in particular the differences between EU member states in terms of their capacity to innovate.
The current European fiscal framework is inefficient. It should be replaced with a system based on rules more suited to the two core objectives: public debt sustainability and fiscal stabilisation. The rules should be more transparent and easier to implement. These reforms would promote greater compliance.
Europe’s banks are in retreat from playing a global investment banking role, and this trend is likely to continue in the future. What will be the consequences and what should be the policy response?
This paper shows that antitrust investigation in a market increases leniency applications in related markets. The authors used a novel application of multi-spell discrete-time survival analysis for a sample of cartels prosecuted by the EC between 1996 and 2014.
The dangerous cocktail of high debt and low growth in Europe calls for smart public investment that fosters growth whithout being a burden for public finances. Can public spending in R&D sustain innovation and growth, and does it qualify as a smart investment?
At the current level of political and societal integration, a large federal budget is unrealistic in the euro area. The authors make three recommendations that would lead national fiscal policies to be more stabilising with respect to the economic cycle, while achieving long-term sustainability. They also recommend a move towards a European unemployment insurance scheme targeted at ‘large’ shocks, and a minimum set of labour-market harmonisation criteria.
The ECB has made a series of changes to its QE programme in order to expand the universe of purchasable assets and have more flexibility in the execution of the programme. However this might not be enough to sustain QE throughout 2017. The extension of the programme also raises questions about its potential adverse consequences.
This paper analyses the banking linkages between the nine ‘outs’ and 19 ‘ins’ of the banking union. It finds that the out countries could profit from joining banking union, because it would provide a stable arrangement for managing financial stability.
The purpose of our report is to provide a comprehensive overview of capital movements in Europe in a global context.