Publications
Economic analysis and policy recommendations based on rigorous academic underpinnings
Recent publications
An assessment of the 2028-2034 EU budget’s contribution to closing Europe’s investment gap
National spending flexibility in the next MFF risks leaving most of the European public goods gap unfunded, with financial instruments no substitute
How climate policies can speed up manufacturing decarbonisation in the Western Balkans
Western Balkan firms are adopting measures to reduce environmental impacts, but smaller local firms need support to comply with EU regulations
Remunerating means of payment
Non-remuneration of digital money acts as a distortionary tax, making EU bans on interest for e-money and stablecoins hard to defend
Tax policy considerations for the circular economy
EU fiscal systems still favour linear production, as virgin extraction stays largely unpriced and labour-intensive repair is penalised
The European Union’s automotive sector needs a plan, not undue protection
European automotive policy should prioritise affordable competitiveness over protectionism, using resilience criteria and temporary safeguards
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Publication list
Analysis
15 June 2026
Europe must prepare for a possible oil supply crunch
With falling commercial and emergency oil reserves, Europe’s oil price shock could soon become a volume crisis – a scenario for which it must prepare
Policy Brief
11 June 2026
The right balance: how to fix European Union artificial intelligence regulation
EU AI regulation should trade lower ex-ante burden for robust ex-post monitoring, judicial review and liability to curb harms without stifling markets
Working paper
11 June 2026
When oil is scarce and debt is binding: policy sequencing under a severe energy supply shock
With inflation still binding and fiscal space thin, the 2026 Iran shock revives the case for pre-committed, conditional yield anchors with clear exit
Working paper
08 June 2026
Between values and interests: drivers of EU aid
EU aid is still more poverty-focused than peers, but external policy drivers are growing and reshaping development cooperation after Global Gateway
Working paper
04 June 2026
How do trade restrictiveness and trade policy uncertainty affect FDI? An empirical investigation
Rising trade barriers and uncertainty are choking FDI inflows, hitting low and middle-income investors hardest in a fragmented global economy
Working paper
02 June 2026
Size versus allocation in capital market development: evidence from pension funds and insurance companies
EU capital markets stay small as savings sit in deposits, making insurers and pension funds pivotal if portfolios shift into productive assets
Analysis
28 May 2026
Hungary has room to streamline public spending without hurting growth
Cutting some state operating and economic spending to the average of its regional peers could save Hungary more than four percent of GDP
Working paper
28 May 2026
Defence innovation and procurement reform: an empirical evaluation of the US Defense Innovation Unit
The DIU has widened and deepened US defence procurement, showing innovation units can bring more commercial tech firms into military supply
Analysis
27 May 2026
How to secure the benefits of an EU-wide incorporation regime
An EU Inc. plan for a common company regime should become more targeted and be underpinned by better system infrastructure
Policy Brief
26 May 2026
A plan to revitalise the World Trade Organization
Saving the WTO will require EU-led alliances, better subsidy disciplines and new plurilateral routes, even if some initiatives sit outside the WTO
Policy Brief
21 May 2026
The flaws in the European Union’s proposed Industrial Accelerator Act and how to fix them
IAA provisions should rest on clear sector choices, WTO-safe criteria and FDI screening that welcomes value-adding investment
Policy Brief
20 May 2026
A new strategy to contain stablecoin risks in the European Union
EU reluctance on stablecoins may backfire as US-backed dollar tokens spread, pushing demand offshore and importing dollar risks into Europe
Analysis
19 May 2026
Europe needs a strategy to close the artificial intelligence compute gap
In its bid to compete with the US on AI, Europe could learn from both China and from the classic Airbus industrial policy case
Book
18 May 2026
Ragnar Nurkse and the Making of the Bretton Woods Paradigm
An intellectual biography and analysis of how a little-known Estonian economist developed the authoritative account of the Bretton Woods paradigm
Working paper
15 May 2026
Challenges to the integration of the Western Balkans into European Union supply chains
Western Balkan EU integration has deepened, yet rising non-tariff barriers and new EU rules keep trade costs high despite zero tariffs
Analysis
13 May 2026
Revamping Europe’s chips strategy: indispensability, not self-sufficiency
In revising the European Chips Act, the EU should seek to make itself an indispensable partner in the semiconductor value chain
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