Macroeconomic policy and governance

1982: the debt crisis that could have destroyed Western banking

What we can learn from four decades of financial turmoil and recovery

Price stability is all about climate change

The European Central Bank should bring in cheaper greening funding for banks, to offset the impact of high interest rates on the energy transition

Stay away from Russian money

The EU would shoot itself in the foot by confiscating Russian assets and giving them to Ukraine

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

The EU needs a methodology for including reform impacts in fiscal trajectories

Such a methodology, and a governance mechanism for managing associated risks, must be in place before the new fiscal framework kickstarts in September

Broader border taxes: a new option for European Union budget resources

The purpose of this paper is to review the Commission’s proposal and to contribute new ideas for ‘genuine’ own resources

Exchange rates and fundamentals: Forecasting with long maturity forward rates

The European Central Bank, inflation tolerance and the last mile

The European defence industrial strategy: important, but raising many questions

The European defence industrial strategy helps to focus thinking but has significant flaws

The idea that Europe’s economic performance is inferior to that of the United States is erroneous

The European Central Bank’s timid operational framework update

The European Central Bank announced limited changes to its operational framework – which is probably right given current uncertainty

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

Coordination for EU Competitiveness

How war in Ukraine brought Europe together

EU countries have resisted splintering factions since Russia’s 2022 invasion