Fiscal policy

Greening EU fiscal rules

How to achieve debt sustainability and environmental sustainability in the bloc?

Are the emerging EU fiscal rules green enough?

Are the emerging EU fiscal rules green enough?

While there are developments towards a political agreement on EU fiscal rules reform, three concerns remain.

What is behind China's structural deceleration?

Understanding local government debt in China

How can China navigate the country towards a more sustainable and balanced economic future?

To unblock fiscal rule reform, the EU should reinstate its excessive deficit procedure

Reapplying the excessive deficit procedure could create space for European Union countries to decide on longer-term rule change

Europe’s strategic challenge

The EU should pursue ‘gradual and pragmatic federalism,’ underpinned by essential governance reform.

How should the Commission's fiscal framework proposal be improved?

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.

Making sense of the European Commission’s fiscal governance reform plan

This Policy Brief offers proposals to enhance institutional self-commitment to implementation, with reputational consequences for non-implementation.

The Russian war economy: macroeconomic performance

The Russian economy has performed better than many expected since the war in Ukraine started, though the financial burden will be felt for some time.

China’s GDP data point to need for stimulus, but will it come?

The main reason for the relatively poor second quarter is lackluster domestic demand.

National fiscal policy responses to the energy crisis

Fiscal rule legislative proposal: what has changed, what has not, what is unclear?

The proposed new fiscal rules constitute a major improvement from the current fiscal framework but missed an opportunity to foster green investment.

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.