Opinion
The pandemic will structurally change the global economy more than we think
It is time to rethink many of the basic principles of our economic model to mitigate the impacts of the COVID-19 pandemic.
Upcoming Event
How can the EU increase the resilience of value chains in the health industry?
Opinion
It is time to rethink many of the basic principles of our economic model to mitigate the impacts of the COVID-19 pandemic.
External Publication
In this paper, the author looks at the implications arising from the focus of the Recovery and Resilience Plans in the context of the European Semester.
Blog Post
In March and April 2020, European governments announced massive credit support programmes. After an initial surge, take-up appears to be stabilising (with a lag in Italy), despite second wave shocks in some countries. More recent data confirms that fiscal capacity has not visibly constrained national governments in the support they have provided so far.
Policy Contribution
All European Union countries are undergoing severe output losses as a consequence of COVID-19, but some have been hurt more than others. Factors potentially influencing the degree of economic contraction include the severity of lockdown measures, the structure of national economies, public indebtedness, and the quality of governance in different countries. With the exception of public indebtedness, we find all these factors are significant to varying degrees.
Opinion
The European Union recovery fund could greatly increase the stability of the bloc and its monetary union. But the fund needs clearer objectives, sustainable growth criteria and close monitoring so that spending achieves its goals and is free of corruption. In finalising the fund, the EU should take the time to design a strong governance mechanism.
Parliamentary Testimony
Testimony before the Economic Affairs Committee at the House of Lords, British Parliament on Employment and COVID-19.
Past Event
Third day of Bruegel Annual Meetings.
Past Event
Second day of Bruegel Annual Meetings.
Past Event
The Annual Meetings are Bruegel's flagship event which gathers high-level speakers to discuss the economic topics that affect Europe and the world.
Blog Post
Central banks in emerging markets with weak currencies should not resort to unorthodox monetary tools such as quantitative easing as a response to the crisis triggered by COVID-19. Preferable alternatives include shifting public spending away from less pressing needs, moderately increasing public debt and falling back on official development assistance.
Opinion
This opinion piece has previously been published in Project Syndicate. PARIS – There is a growing possibility that the COVID-19 crisis will mark the end of the growth model born four decades ago with the Reagan-Thatcher revolution, China’s embrace of capitalism, and the demise of the Soviet Union. The pandemic has highlighted the vulnerability of […]