Publications

The European Investment Bank can afford to take more risks

Significant reserves built up through decades of profit-making should enable the bank to absorb volatility of riskier investments

Maria Demertzis, David Pinkus and Nina Ruer

The changing dynamics of European electricity markets and the supply-demand mismatch risk

This paper discusses the balance between efficient electricity system operation, investment incentives and social fairness

Conall Heussaff and Georg Zachmann

Productivity spillovers from FDI: A firm-level cross-country analysis

This paper provides cross-country firm-level evidence on productivity spillovers from foreign direct investment

JaeBin Ahn, Shekhar Aiyar and Andrea F. Presbitero

What role do imports play in European defence?

The European Union wants to reduce reliance on imported defence equipment, but the reliance seems to be overstated

Juan Mejino-López and Guntram B. Wolff

Future European Union gas imports: balancing different objectives

Criteria including derisking, climate considerations, methane intensities and transportation security should inform decisions on the EU’s gas imports

Agata Łoskot-Strachota, Ugnė Keliauskaitė and Georg Zachmann

How to finance the European Union’s building decarbonisation plan

This policy brief discusses the challenges of meeting EPBD targets and introducing ETS2 smoothly

Ugnė Keliauskaitė, Ben McWilliams, Giovanni Sgaravatti and Simone Tagliapietra

Debt financing European air defence

A case can be made for financing European air defence through issuance of EU debt

Armin Steinbach and Guntram B. Wolff

Re-energising Europe’s global green reach

EU’s green reach strategy will need to use a broad range of levers to build equitable partnerships that will help partners make deeper emissions cuts

Giovanni Sgaravatti, Simone Tagliapietra and Cecilia Trasi

Europe’s banking union at ten: unfinished yet transformative

Nicolas Véron offers the first comprehensive exploration of the genesis, implementation and possible future completion of the banking union

Nicolas Véron

How to harvest the windfall profits from Russian assets in Europe

The challenge still remains of crafting a syndicated loan for Ukraine backed by G7 members that strikes a fair deal on burden sharing

Armin Steinbach

The implications of the European Union’s new fiscal rules

This policy brief summarises the main features of the new European Union fiscal framework

Zsolt Darvas, Lennard Welslau and Jeromin Zettelmeyer

How much does Europe pay for clean air?

Despite major progress, the cost of air pollution is still huge for the European Union

Miquel Oliu-Barton and Juan Mejino-López

The European Central Bank must adapt to an environment of inflation volatility

The ECB must adapt its strategy to a new era of supply disruptions

Lucrezia Reichlin and Jeromin Zettelmeyer

The economic case for climate finance at scale

This policy brief examines the economic case for advanced-country financial support for replacement of coal with renewable energy sources in EMDEs

Patrick Bolton, Alissa M. Kleinnijenhuis and Jeromin Zettelmeyer

Longer-term fiscal challenges facing the EU

Zsolt Darvas, Lennard Welslau and Jeromin Zettelmeyer

Twenty years of European east-west household income convergence

While average household income is lower than GDP per capita, the poor have especially benefitted from income gains in central and eastern EU members

Zsolt Darvas