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Policy Contribution

Market versus policy Europeanisation: has an imbalance grown over time?

This Policy Contribution tests the hypothesis that an imbalance has grown in Europe over the last few decades because markets have integrated to a greater extent than European-level policymaking, potentially creating difficulties for the democratic process in managing the economy. This hypothesis has been put forward by several authors but not so far tested empirically.

By: and Date: January 9, 2020 Topic: Macroeconomic policy

To evaluate the process of European market integration – or market Europeanisation – over the last few decades, we assess intra-European trade and intra-European capital flows.

Useful comments were received from Emmanuel Mourlon-Druol, Guntram Wolff, Zsolt Darvas, Simone Tagliapietra, Grégory Claeys, Enrico Bergamini and Maria Demertzis.

Our results show that, measured by our proxies, policy Europeanisation has developed more rapidly than market Europeanisation, measured on the basis of both trade and capital flows. It is however also noted that the relative number of public employees has outpaced the relative frequency of European Union news in the media, possibly indicating a technocratic slant in policy Europeanisation. Further research could test the robustness of our results, in particular by using other measures of policy Europeanisation, such as the impact of European legislation on national laws and regulations.

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Blog Post

European governance

Does the war in Ukraine call for a new Next Generation EU?

The European Union should take significant economic measures in response to the war in Ukraine, but a new Next Generation EU is not needed yet.

By: André Sapir Topic: European governance Date: May 17, 2022
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Upcoming Event

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Three data realms: Managing the divergence between the EU, the US and China in the digital sphere

Major economies are addressing the challenges brought by digital trade in different ways, resulting in diverging regulatory regimes. How should we view these divergences and best deal with them?

Speakers: Susan Ariel Aaronson, Henry Gao, Esa Kaunistola and Niclas Poitiers Topic: Digital economy and innovation, Global economy and trade Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Past Event

Past Event

What is in store for Euro area economies?

ECB Executive Board Member Philip Lane discusses the outlook for Euro area economies.

Speakers: Maria Demertzis and Philip Lane Topic: European governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: May 5, 2022
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Podcast

Podcast

Global trade Down Under

A conversation on the global trading landscape.

By: The Sound of Economics Topic: Global economy and trade Date: May 4, 2022
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Policy Contribution

European governance

Fiscal support and monetary vigilance: economic policy implications of the Russia-Ukraine war for the European Union

Policymakers must think coherently about the joint implications of their actions, from sanctions on Russia to subsidies and transfers to their own citizens, and avoid taking measures that contradict each other. This is what we try to do in this Policy Contribution, focusing on the macroeconomic aspects of relevance for Europe.

By: Olivier Blanchard and Jean Pisani-Ferry Topic: European governance, Macroeconomic policy Date: April 29, 2022
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External Publication

European governance

Green public procurement: A neglected tool in the European Green Deal toolbox?

A new EU regulatory action in public procurement could unlock the potential of green public procurement and add an important element to the European Green Deal toolbox.

By: André Sapir, Tom Schraepen and Simone Tagliapietra Topic: European governance, Green economy Date: April 26, 2022
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External Publication

What drives implementation of the European Union’s policy recommendations to its member countries?

Article published in the Journal of Economic Policy Reform.

By: Konstantinos Efstathiou and Guntram B. Wolff Topic: Macroeconomic policy Date: April 13, 2022
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Blog Post

The decoupling of Russia: European vulnerabilities in the high-tech sector

Although Russia bears the brunt of Western high-tech sanctions, the European Union will face challenges in sectors where it relies on Russian and Ukrainian commodities and technologies.

By: Monika Grzegorczyk, J. Scott Marcus, Niclas Poitiers and Pauline Weil Topic: Global economy and trade Date: April 12, 2022
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Blog Post

European governance

Bold European Union action is needed to support Ukrainian refugees

Hosting Ukrainian refugees could cost European Union countries in excess of €40 billion this year. A dedicated EU fund is needed to manage the fiscal burden.

By: Zsolt Darvas Topic: European governance, Global economy and trade Date: April 6, 2022
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Blog Post

The impact of the war in Ukraine on food security

Global food production will be sufficient to feed the global population this year. But export bans, high prices and increasing transport cost might prevent vulnerable countries from procuring sufficient food supplies. Measures to ensure global access to scarcer food supplies and to boost grain production are warranted.

By: Pauline Weil and Georg Zachmann Topic: Global economy and trade Date: March 21, 2022
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Blog Post

Can Europe manage if Russian oil and coal are cut off?

A stop to Russian oil and coal supplies would push Europe into a short and painful adjustment period. But if managed well, disruptions would remain temporary.

By: Ben McWilliams, Giovanni Sgaravatti, Simone Tagliapietra and Georg Zachmann Topic: Green economy Date: March 17, 2022
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Blog Post

European governance

A new Thessaloniki offer: the aspirations of Georgia, Moldova, and Ukraine to join the EU

The European Union should grant candidate status to Georgia, Moldova and Ukraine, as part of a long-term stabilisation strategy.

By: Marek Dabrowski Topic: European governance Date: March 15, 2022
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