Grégory Claeys

Inflation inequality in the European Union and its drivers

A conceptual framework for the identification and governance of European public goods

How to find institutional arrangements for public-good provision, to maximise the benefits of public goods for EU members?

The Macroeconomics of Decarbonisation: Implications and Policies

What will it cost the European Union to pay its economic recovery debt?

Servicing the EU debt until 2058 seems feasible, despite increased borrowing costs, but member countries must make choices about budget funding

An estimate of the European Union’s long-term borrowing cost bill

Debt dynamics: Exploring EU borrowing in changing times

As interest costs rise, the EU should review how they are accounted for in its budget and financial framework.

The rising cost of European Union borrowing and what to do about it

Interest rates on the EU debt have risen substantially since 2022: what are the main drivers and implications and what to do about it?

How should the EU deal with its rising borrowing costs?

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.

Quantitative tightening in the euro area

Why has the ECB decided to implement this policy?

The Net-Zero Industry Act puts EU credibility at risk

The EU Net-Zero Industry Act looks like it’s been set up to keep everyone happy – and to achieve limited results.

The Net-Zero Industry Act puts EU credibility at risk

Finding the right balance (sheet): quantitative tightening in the euro area

Liquidity risk, market power and the informational effects of policy

The charm of central bank digital currencies in a polarised world

How will CBDCs impact the international financial system?

Does inflation hit the poor hardest everywhere?

Low-income households suffer most from high inflation, but in some European Union countries the inflation burden is felt more equally than others.

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

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

Is the world economy headed for recession?

A macroeconomic outlook for the global economy.

How rate increases could impact debt ratios in the euro area’s most-indebted countries

Debt-to-GDP ratios should continue to fall in euro-area countries despite rising interest rates, post 2023 the situation might vary across countries

A new European tool to deal with unjustified rising spreads

The ECB needs a new tool to prevent the current rise in spreads, triggered by monetary policy tightening, from escalating into a new euro-area crisis.