European semester and fiscal rules

Evaluating the European Commission’s fiscal governance proposal

Focusing on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.

A quantitative evaluation of the European Commission’s fiscal governance proposal

This paper focuses on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.

The EU’s long-term fiscal challenges

The EU faces a fiscal dilemma in the long-term: fiscal space has likely declined, but public investment needs have gone up.

How will member states react to the European Commission's proposals for fiscal governance reform?

The longer-term fiscal challenges facing the European Union

Since 2020, the European Union has suffered two large shocks, which have created new fiscal challenges for the EU.

Is the EU fiscal rules reform going in the right direction?

Reviewing the European Commission’s proposal for reforming the Stability and Growth Pact.

European Union fiscal rules: is a better system feasible?

EU countries seem to be converging on a set of reform objectives. But can these be jointly satisfied? Two recent proposals offer some hope.

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.

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

Article published in the Journal of Economic Policy Reform.

How to reconcile increased green public investment needs with fiscal consolidation

The EU’s ambitious emissions reduction targets will require a major increase in green investments. This column considers options for increasing public

Policy coordination failures in the euro area: not just an outcome, but by design

Discussions on the fiscal framework should aim to correct its procyclical nature with a view to promoting more cooperative outcomes.

The future of the stability and growth pact

Testimony given to a Tweede Kamer der Staten-Generaal roundtable discussion on the future of the stability and growth pact.

Can EU fiscal rules jump on the green bandwagon?

By and large, setting a new green golden rule would be a useful addition to the existing EU fiscal framework.

Redesigning EU fiscal rules: from rules to standards

It is an illusion to think that EU fiscal rules can be simple.

A green fiscal pact: climate investment in times of budget consolidation

A fiscal exit strategy must be put in place when the EU is pursuing the major goal of cutting its emissions

New life for an old framework: redesigning the European Union's expenditure and golden fiscal rules

Testimony before the European Parliament on the subject of EU fiscal policies.