Publications

This commentary argues that while the principles outlined initially by the Commission have prevailed, there are two issues that cause concern: On the one hand, there is no fixed date for the entry int...chevron_right

Public finances in the Eurozone have suffered large deteriorations but do not appear unmanageable, under present polices, and indeed in many ways are better than those of the US, the UK and Japan.chevron_right

EU and national policy-makers should realize that the continuing crisis in the eurozone is inflicting not only severe economic costs but also significant political costs, as a consequence of the way i...chevron_right

In this Policy Brief, the authors try to outline the elements of a comprehensive economic policy initiative at the EU level capable of matching fiscal discipline with higher growth, as well as restori...chevron_right

The eurozone is being thrown into turmoil by a collective rush to the exits by investors. Yields on government debt of peripheral eurozone countries are skyrocketing, because investors do not really k...chevron_right

This commentary argues that troubled eurozone nations should simultaneously open restructuring talks while continuing to service their debts normally. Germany, France and other core eurozone nations w...chevron_right

This Policy Brief flags some considerations that seem missing in the current heated debate on bail-outs and bail-ins, the size of liquidity facilities, and the terms of a crisis resolution mechanism. ...chevron_right

This paper provides evidence on past growth of productivity, analyzing the evolution of labor productivity, capital deepening and multi-factor productivity. Based on a literature review of recent stud...chevron_right

For decades, the world has complained that the dollar's role as global reserve currency has given the US, in a term usually attributed to Charles de Gaulle but actually coined by his finance minister,...chevron_right

The G20 now has little choice but to adopt the refrain that has been so pervasive in the recent G7 gatherings: the best contribution any participant can make to a strong global economy is to put its o...chevron_right

At the insistence of Germany, the member countries of the eurozone appear to have agreed to introduce a sovereign debt default mechanism. They even seem to be willing to codify this into a new treaty ...chevron_right

This commentary examines what should be discussed at the ministerial meetings in November 2010 and February 2011 regarding the EU's European Neighbourhood Policy and Eastern Partnership schemes.chevron_right

This commentary discusses the limited Lisbon Treaty reform agreed to by the European Council in late October 2010, and the implications for the temporary European Financial Stability Facility.chevron_right

This policy brief is a summation of the EU's vulnerability to natural gas supply security risks. They include a collapse in the price of natural gas, alternative gas fuel production in the US and a se...chevron_right

Europe faces a paradox with respect to coal supply security: it is a reliable fuel, with ample reserves but climate policy will not allow for its continued use unless it can be transformed into 'clean...chevron_right