Europe, the way ahead will be on the focus of this year’s Bruegel annual meeting. In the fall and after the European election, a new leadership will come into office. It will be time to reflect on the next steps Europe should take to overcome its weak growth performance; to re-invent its institutions and the collaboration process among them; to address the remaining banking problems; and also to revive the debate on the constitution and legitimacy of Europe. At the annual meeting, we would like to have an open and frank debate. High-level representatives of Bruegel's state;corporate and institutional members will gather;on 4-5 September in Brussels;to discuss the economic issues that will shape Europe under the new leadership and in the context of new global challenges. September 4 (on the record)
Economists and policy analysts know very little about the conditions under which cartels are formed in different legal environments, how they behave against outsiders, how they behave against deviating insiders, and how they react to changes in the economic environment. This event will provide a space to discuss these aspects, based on two projects funded by SEEK. One of the projects studies cartel organization – a topic on which there is little information to date – through the lens of legal cartels. While such cartels did not have to fear detection and prosecution, they faced the same internal organizational challenges as illegal cartels. The focus is on comparing empirically, in specific sectors, the organizational forms of legal cartels in countries with different legal regimes. The project has collected data on Austrian, Finnish, Norwegian, Swedish and American legal cartels. The other project has developed new theoretical insight into the anatomy of hard-core cartels and combined it with a rich data set on the recent German cement cartel. The results of this project will be presented to the audience attending the event. The private data set comprises about 340.000 market transactions from 36 customers of German cement producers and encompasses most of the period during which the cartel was functioning, as well as a period after the collapse of the cartel. This event is jointly organised by SEEK. <br/> <br/> <br/> <br/> Programme: 11.30 -11.45: Welcome speech by Reinhilde Veugelers, Bruegel 11.45 – 12.15: Legal Cartels in Europe – A Historical Episode?
Young innovative firms face many difficulties accessing seed and early stage finance, and these difficulties have increased over the past several years. Banks have been reluctant to provide loans to startups as a result of the financial crisis. Meanwhile venture capital firms have become more risk averse and, in many cases, have focused on later stage investments. Angel investors have become more visible and active through groups, syndicates and networks, and increasingly are playing an important role in seed and early stage finance. Crowdfunding platforms in Europe are also engaging in equity financing. There has been increasing concern from policymakers around the world about the growing financing gap for high growth firms, particularly in the seed and early stage. As a result, governments in many countries have sought to address the financing gap and perceived market failures by supporting the seed and early stage market. However, the objectives behind these interventions often go beyond addressing financing gaps. Many countries recognize the critical role that young innovative firms play in creating jobs and economic growth and are seeking ways to facilitate the creation and growth of these firms. This event will highlight the gaps that exist in the seed and early stage market and the policies that governments have put in place, in Europe as well as other countries around the world, to address those gaps.
Japan’s economy has experienced long-term stagnation for over 20 years. Since Autumn 2012, drastic economic policies known as ‘Abenomics’ have been enforced to break this pattern. Meanwhile inflation in the EU is an alarming indicator of a possible deflationary phase that could cripple economic activity. These phenomena are similar to those experienced in Japan in the 1990s. This conference offers the possibility to deepen our economic understanding of two major economies facing similar problems and opportunities. Speakers include Yoshii Masahiko (Professor, Graduate School of Economics, Kobe University), Kazumasa Iwata (Director, President, Japan Center for Economic Research), Paul Sheard (Chief Global Economist and Head of Global Economics and Research for Standard & Poor's), Kiyoto Ido (Vice Chairman, Institute for International Economic Studies). Note that the programme for this event is still under development. More information will be posted shortly. This event is jointly organised with the Graduate School of Economics, Kobe University. We recognise the support of theToshiba International Foundation for the organisation of this event. <br/>