This article was originally published in Foreign Affairs. In the days before Russian President Vladimir Putin invaded Ukraine, the United States and its European allies announced stringent economic sanctions on Russia, including its energy sector. Germany, for its...
Brueguel
Global chip shortage may soon turn into an oversupply crisis
Read the full opinion piece published in Nikkei Asia.
Greening Europe’s post-COVID-19 recovery
Even in the early days of COVID-19, the European Union signalled its commitment to make its post-pandemic recovery green. The disruption caused by the pandemic would require significant rebuilding of the economy, offering an opportunity to accelerate green investment...
Europe’s recovery budget
Bruegel’s Director Guntram Wolff is joined by MEP Johan Van Overtveldt, Chair of Committee on Budgets in the European Parliament to discuss the current committee discussions including NGEU borrowing. They also spoke about his new book: The Mystic Hand, How Central...
The weakness of average inflation targeting
This piece was originally published in Money Review. In the 2020 revision of monetary policy strategy, the US Federal Reserve adjusted the pursuit of an inflation rate at 2 percent, to inflation that ‘averages 2 percent over time’. Many worry that using average...
Europe’s sustainable taxonomy is a sideshow
In recent months, despite a dramatic energy crisis, much of the attention in European Union energy and climate discussions has focused on the so-called taxonomy for sustainable activities, a labelling system intended to guide investors. In the debate, the complex...
Is the post-war trading system ending?
The author is grateful to Bruegel colleagues, especially Marek Dabrowski, André Sapir and Guntram Wolff, for useful comments. The world trading system is reeling from the trade war between China and the United States, the disabling of the World Trade Organisation...
Will this be the century of youthful Asia?
Read the full opinion published in Brink.
How has growth changed what countries get from the European recovery fund?
Allocation to European Union countries of grants from the bloc’s Recovery and Resilience Facility (RRF) depends on GDP growth data for 2020 and 2021. Annex IV of the regulation establishing the RRF set out indicative maximum amounts each country could receive based on...
The Euro in 2022
Read the full yearbook. Fundación ICO and Fundación de Estudios Financieros jointly decided in 2012 to publish an annual review of the Euro, the Yearbook, with the aim of expanding knowledge and raising awareness of the single currency, and suggesting ideas and...
Book notes: Monetary policy in times of crisis
Download and read the full review as published in Central Banking. In his review of ‘Monetary policy in times of crisis: a tale of two decades of the European Central Bank‘ (Oxford University Press) by Massimo Rostagno, Carlo Altavilla, Giacomo Carboni, Wolfgang...
The failure of global public health governance: a forensic analysis
The authors thank Max Sorensen for research assistance and Bruegel colleagues for insightful comments made at a research seminar in November 2021. COVID-19 has underlined that in a context of recurring pandemics, public health is a basic global public good, the...