Working papers
Long-form papers with original research methodologies that lay academic foundations to address policy issues
Working papers
Unpacking China’s industrial policy and its implications for Europe
This paper assess how beneficial industrial policy has been for China and how exportable to the European Union its model might be
Using the financial system to enforce export controls
Russian imports of battlefield goods that are subject to export controls, including from Western producers, have surged since mid-2022
Economic arguments in favour of reducing copyright protection for generative AI inputs and outputs
The licensing of training inputs slows down economic growth compared to what it could be with competitive and high-quality GenAI
The rocky road to EU accession for Western Balkan countries: obstacles and lessons from the Eastern Partnership
The three eastern European states had practically no waiting time before being accepted as candidate countries right after application
Incorporating the impact of social investments and reforms in the European Union’s new fiscal framework
This paper proposes an approach for quantifying the impact of public investments and reforms on debt sustainability
Working paper
06 March 2017
Institutional investors and home bias in Europe’s Capital Markets Union
Zsolt Darvas and Dirk Schoenmaker find strong support for the hypothesis that the larger the assets managed by institutional investors, the smaller th
Working paper
28 February 2017
Fundamental uncertainty and unconventional monetary policy: an info-gap approach
This paper applies the info-gap approach to the unconventional monetary policy of the Eurosystem and so takes into account the fundamental uncertainty
Working paper
17 November 2016
Reform of the European Union financial supervisory and regulatory architecture and its implications for Asia
This Working Paper reviews recent developments in the EU’s financial supervisory and regulatory architecture with a view to draw out lessons for regi
Working paper
08 November 2016
Some are more equal than others: new estimates of global and regional inequality
In this Working Paper, Zsolt Darvas estimates the global and regional distribution of income and calculates statistics of global and regional income i
Working paper
02 November 2016
Providing efficient network access to green power generators: A long-term property rights perspective
This paper analyses the dynamic efficiency of several types of access regulation of a bottleneck transmission line in electricity markets.
Working paper
18 October 2016
Income convergence during the crisis: did EU funds provide a buffer?
This paper shows that economic convergence continued during the crisis for the EU as a whole, although at a slower pace, but for regions in the EU14,
Working paper
05 September 2016
China’s Belt and Road initiative: can Europe expect trade gains?
The Belt and Road aims to ease bottlenecks for cross-border trade in Asia, Europe and Africa. This paper measures empirically whether the reduction i
Working paper
14 July 2016
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.
Working paper
15 June 2016
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 challeng
Working paper
29 February 2016
The dynamics of leniency application and the knock-on effect of cartel enforcement
This paper shows that antitrust investigation in a market increases leniency applications in related markets. The authors used a novel application of
Working paper
24 February 2016
Getting the most from public R&D spending in times of budgetary austerity
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
Working paper
22 December 2015
Matching research and innovation policies in EU countries
Europe has lofty ambitions for building a socially and environmentally sustainable future on the basis of growth and prosperity through innovation. De
Working paper
25 November 2015
Macroprudential supervision: from theory to policy
While there is now consensus that financial supervision has to focus on the aggregate (macroprudential), in addition to the individual (microprudentia
Working paper
18 November 2015
Squaring the cycle: capital flows, financial cycles, and macro-prudential policy in the euro area
The financial crisis has prompted a renewed interest in macro-prudential policy as a framework to address the stability of the financial system as a w
Working paper
02 November 2015
Firmer foundations for a stronger European Banking Union
The idea of Banking Union has been instrumental in arresting the euro sovereign crisis. However the long-term rationale behind Banking Union is relate
Working paper
29 October 2015
Internationalising the currency while leveraging massively: the case of China
This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account liberalisation and international
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