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External Publication

What role for the European Semester in the recovery plan?

In this paper, the author looks at the implications arising from the focus of the Recovery and Resilience Plans in the context of the European Semester.

By: Date: October 12, 2020 Topic: European Macroeconomics & Governance

This study was prepared for the European Parliament’s  ECON Committee. The study is available on the European Parliament’s online database, ‘ThinkTank‘. Copyright remains with the European Parliament at all times.

Accessing funds of the EU’s Recovery and Resilience Facility (RRF) depends on detailed national Recovery and Resilience Plans (RRPs) being agreed upon, and projects meeting implementation milestones. The RRPs will be embedded in the European Semester, the EU’s framework for economic policy coordination.

This paper suggests that there are risks to the implementation of the RRPs, and/or to an objective evaluation of their progress. While the Treaty specifies that the execution of economic policy coordination shall be done by the Member States within the Council, the involvement of the European Parliament would potentially increase transparency and accountability for national policy makers (as well as the Commission and Council), which could improve project delivery and thus benefit the recovery.

This document was provided by the Economic Governance Support Unit and Policy Department A at the request of the ECON Committee.

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Podcast

Podcast

The Sound of Gita Gopinath

IMF Chief Economist Gita Gopinath joins Bruegel Director Guntram Wolff to discuss the uneven recovery from the pandemic with a live clubhouse audience.

By: The Sound of Economics Topic: Global Economics & Governance Date: May 6, 2021
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Past Event

Past Event

Divergent Recoveries from the Pandemic: Conversation with IMF Chief Economist Gita Gopinath and Bruegel Director Guntram Wolff

In this episode of The Sound of Economics Live, IMF Chief Economist Gita Gopinath and Bruegel Director Guntram Wolff will debate the uneven recovery from the pandemic.

Speakers: Gita Gopinath and Guntram B. Wolff Topic: Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: May 5, 2021
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Blog Post

China’s M&A activity rebounds with a clear focus on Europe

Despite the pandemic, China’s interest in overseas M&A started to rebound in late 2020, with European industrial companies still of particular interest.

By: Alicia García-Herrero and Jianwei Xu Topic: Global Economics & Governance Date: May 4, 2021
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Working Paper

Reducing mobility of SARS-CoV-2 variants to safeguard containment

Escape variants can cause new waves of COVID-19 and put vaccination strategies at risk. To prevent or delay the global spread of these waves, virus mobility needs to be minimised through screening and testing strategies, which should also cover vaccinated people. The costs of these strategies are minimal compared to the costs to health, society and economy from another wave.

By: Martin Hellwig, Viola Priesemann and Guntram B. Wolff Topic: Global Economics & Governance Date: May 4, 2021
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Blog Post

Confronting the risks: corporate debt in the wake of the pandemic

As European economies emerge from lockdowns, it is becoming clearer that corporate debt has reached critical levels. A new French scheme, in which the state guarantees portfolios of subordinated debt, shows how financial support could be targeted better.

By: Alexander Lehmann Topic: Finance & Financial Regulation Date: April 28, 2021
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Past Event

Past Event

Living standards and financial resilience across Europe

What has the impact of the pandemic on households’ financial resilience been, and how should policy makers respond?

Speakers: Romina Boarini, Zsolt Darvas, Maria Demertzis and Daniel Tomlinson Topic: European Macroeconomics & Governance Date: April 21, 2021
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Blog Post

The impact of COVID-19 on artificial intelligence in banking

COVID-19 has not dampened the appetite of European banks for machine learning and data science, but may in the short term have limited their artificial-intelligence investment capacity.

By: Julia Anderson, David Bholat, Mohammed Gharbawi and Oliver Thew Topic: Finance & Financial Regulation Date: April 15, 2021
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External Publication

Wealth distribution and social mobility

This report explores the distribution of household wealth in the EU Member States and analyses the role of wealth in social mobility.

By: Zsolt Darvas and Catarina Midões Topic: European Macroeconomics & Governance Date: April 1, 2021
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Working Paper

The unequal inequality impact of the COVID-19 pandemic

Less-educated workers have suffered most from job losses in the COVID-19 pandemic, and it is quite likely there was a significant increase in European Union income inequality in 2020.

By: Zsolt Darvas Topic: European Macroeconomics & Governance, Global Economics & Governance Date: March 30, 2021
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Blog Post

New EU insolvency rules could underpin business rescue in the COVID-19 aftermath

Corporate bankruptcies are set to rise in the context of COVID-19. EU countries should speed up adoption of recent insolvency reforms and, in addition, offer consistent treatment to restructuring finance.

By: Alexander Lehmann Topic: Finance & Financial Regulation Date: March 24, 2021
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Blog Post

How has COVID-19 affected inflation measurement in the euro area?

COVID-19 has complicated inflation measurement. Policymakers need to take this into account and should look at alternative measures of inflation to understand what is actually happening in the economy.

By: Grégory Claeys and Lionel Guetta-Jeanrenaud Topic: European Macroeconomics & Governance Date: March 24, 2021
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Blog Post

An update: Vaccination in the EU

Progress has been made, but more progress is needed.

By: J. Scott Marcus and Niclas Poitiers Topic: European Macroeconomics & Governance, Innovation & Competition Policy Date: March 17, 2021
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