This opinion piece was originally published in the Asia Times Financial. Covid-19 will be remembered as the worst global economic shock in recent history but, compared to the most similar one, the Great Depression of 1929, its consequences on asset prices have been...
This opinion piece was originally published in Le Monde. En arrivant à la Maison Blanche, Joe Biden a trouvé une dette publique de 27.000 milliards de dollars et un déficit public de 3600 milliards. Sa première décision a pourtant été d’engager un plan de soutien de...
Climate change is a growing financial risk as well as an environmental threat. Increasingly, banks and asset managers are seeking ways to prevent future climate shocks from upending their businesses, while investors often seek ways to push their financial resources in...
COVID-19 has caused unprecedented disruption to business. Since the first lockdowns, governments have used credit support programmes as the main instrument to mitigate the liquidity shock businesses have been facing. Have the programmes worked? Bruegel...
This opinion piece with nearly 30 signatories was originally published in de Volkskrant, Le Monde, Süddeutsche, La Repubblica, El Pais and Rzeczpospolita on the initiative of Miquel Oliu Barton and Bary Pradelski. Guntram Wolff, economist, Director of Bruegel, Belgium...
This blog was also published in an abridged form in Kathimerini’s Money Review. It will take time to achieve widespread vaccination coverage. Many rich countries might do it this year, but the poorer will likely have to wait until at least 2023. So, it will be another...
Digital market forces drive huge efficiency gains. But they also create winner-take-all dynamics that can, left unchecked, lead to monopolistic markets and hurt consumers in the long-run. Slow-moving competition policy tools are ill-equipped to fully address these...
Joe Biden has promised to put the United States on an “irreversible” path to achieve net-zero emissions by 2050 while creating millions of well-paying jobs. His Plan for a Clean Energy Revolution and Environmental Justice includes proposals for 100% carbon-free...
Across the Atlantic, EU member states have been discussing a recovery plan since last spring, striking an agreement over the summer to create a €750 billion pandemic recovery fund. Hard-pressed EU capitals must now submit detailed plans to Brussels to unlock their...
This opinion piece was originally published in Project Syndicate. Since the mid-2000s, productivity growth in advanced economies has been anaemic. Average annual productivity growth in the United States from 2005 to 2016 was just 1.3%, less than half of the 2.8%...
This piece was originally published in the Magazine of International Economic Policy as part of a series asking 30 experts for their views on the future of the dollar. The dominant role of the U.S. dollar can be traced back to the end of World War II or even earlier...
This paper is an extended and revised version of an original study titled ‘Effectiveness ofcohesion policy: learning from the project characteristics that produce the best results’, done by the authors (along with Antoine Mathieu Collin) for the European Parliament’s...