Memos to the new Commission- Europe's economic priorities 2010-2015
by Zsolt Darvas, Jürgen von Hagen, Jean Pisani-Ferry, Bruno van Pottelsberghe , Lars-Hendrik Röller, Indhira Santos, André Sapir, Reinhilde Veugelers, Nicolas Véron, Jakob von Weizsäcker on 27 August 2009
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Category: BOOKS
Topics: Budgetary and monetary policies, Climate change and energy, Competition and single market, Currencies and International finance, Emerging economies and development, Financial markets and regulation, European and global governance, Labour, migration and ageing, Research, innovation and growth, Trade, investment and competitiveness, New Member States, Enlargement and Neighbourhood
These Memos, addressed to the next Commission President and to the new European commissioners, are written by Bruegel Scholars and edited by Senior Research Fellow André Sapir and focus on key economic aspects of EU policy-making.
The new Commission will enter office at a challenging time for Europe, the EU and the Commission itself. The crisis has clearly exposed weaknesses in EU governance which need to be addressed and the memos make a number of concrete recommendations of relevance for major economic fields, as well as for the EU and Commission as a whole.
Addressing the next Commission President, André Sapir and Jean Pisani-Ferry propose that effective leadership will be necessary to give strategic direction to the Commission, ’you [the president] should therefore be ready to fight for ideas and take risks" (JPF-AS). The Memos suggest that the EU will need to assert a position on commonly agreed rules, propose new solutions and, importantly, has an opportunity now to redefine the European narrative in the global arena.
Focusing on the most important economic questions at EU level, the Bruegel memos are intended to be strategic, outlining the state of affairs that will be met by the new Commission and the key challenges and priorities they will need to consider over the next five years.
Lost property: The European patent system and why it doesn't work
by Bruno van Pottelsberghe on 29 June 2009
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Category: BLUEPRINTS
Topics: European and global governance, Research, innovation and growth, Trade, investment and competitiveness
In his blueprint, Bruno van Pottelsberghe first looks at the performance of patent arrangements in Europe, especially their cost effectiveness and the consistency of rules and remedies across countries. He then looks at current attempts at global patent cooperation to see if they will help or hinder the emergence of innovation worldwide and in Europe. Using new and hard-hitting data, van Pottelsberghe paints a dark picture of today's patent landscape both in Europe and internationally. It is a tale of failed public cooperation at all levels and of a regime in danger of rampant patent inflation unless minds and resources are focused on tackling the root causes of the problem. This blueprint comes forward with a sequence of concrete, short-, medium- and long-term policy recommendations to this end.
Handle with care! Post-crisis growth in the EU
by Jean Pisani-Ferry, Bruno van Pottelsberghe on 15 April 2009
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Category: POLICY BRIEFS
Topics: European and global governance, Trade, investment and competitiveness
In this policy brief, Jean Pisani-Ferry and Bruno van Pottelsberghe show that although the crisis originated in the US, Europe‘s outlook has deteriorated faster and more sharply leading to the worst crisis observed during the post-war era. However, the length of the crisis matters at least as much at its depth, and policymakers should not overlook the medium term consequences of their actions.
The battle for talent: globalisation and the rise of executive pay
by Dalia Marin on 09 February 2009
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Category: WORKING PAPERS
Topics: Labour, migration and ageing, Trade, investment and competitiveness
This paper explores the role of globalisation in the rise of executive pay in Austria and Germany. According to Dalia Marin, firms more exposed to international competition engage in talent fairs to search and attract skilled workers. She also finds that seniority related pay varies for different levels of foreign competition suggesting that firms increase CEO pay when faced with the threat of losing their senior executives, while seniority in office itself does not lead to higher pay. These findings support the idea of a ‘war for talent‘ that is triggered by international trade.
Of markets, products and prices- the effects of the euro on European firms
by Lionel Fontagné , Thierry Mayer , Gianmarco Ottaviano on 09 February 2009
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Category: BLUEPRINTS
Topics: Competition and single market, Currencies and International finance, Trade, investment and competitiveness
In this Blueprint, Lionel Fontagné, Thierry Mayer and Gianmarco Ottaviano, show that trade flows have not increased meaningfully since the introduction of the euro. However, trade volume can be a misleading yardstick. Other obstacles – be it differences in regulation, legal framework, taxes or language – are significant enough to continue to act as binding constraints on internationalisation. In terms of prices, the authors find that the euro has resulted in less volatile and lower prices, especially within the euro area, and this is a clear plus for consumers.