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The Art of the Brexit Deal

An emergency Brexit podcast to dissect today's tentative deal between the EU27 and the British Government, featuring Maria Demertzis, Guntram Wolff and Nicholas Barrett By: The Sound of Economics Date: October 17, 2019 Topic: European Macroeconomics & Governance The British government has reached a deal with the EU27. The agreement is still subject to approval by the British and European parliaments, as well as the European Council. But is it good news for Brussels? How will...

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Study on using millimetre waves bands for the deployment of the 5G ecosystem in the Union

The study on using millimetre wave bands for the deployment of the 5G ecosystem in the Union (SMART 2017/0015) was carried out by a team led by IDATE DigiWorld with Plum Consulting and Scott Marcus. By: J. Scott Marcus Date: October 17, 2019 Topic: Innovation & Competition Policy The study on using millimetre wave bands for the deployment of the 5G ecosystem in the Union was carried out by a team led by IDATE DigiWorld with Plum Consulting and Scott Marcus.The objectives of the...

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Brexit and Finance: Brace for No Impact?

Amid the daily high drama of Brexit, it is easy to lose track of the structural shifts, or lack thereof, that may be associated with the UK’s possible departure from the European Union. One of them, and not the least, is the potential impact on the European and global financial system. By: Nicolas Véron Date: October 14, 2019 Topic: European Macroeconomics & Governance A version of this opinion piece was also published on ispionline.itAmid the daily high drama of Brexit, it is...

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Cross-border, but not national, EU interregional development projects are associated with higher growth

Our calculations reveal that places where EU regional development projects bind together participants from different countries experience higher economic growth. Purely national interregional projects, on the other hand, are not associated with such benefits. The results hold across regions of different levels of income and consider the effects of other growth-determinants. Cross-border projects might bring efficiency gains, unlock synergies and provide knowledge transfers, boosting activity,...

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Implications of the Japan – United States Mini Trade Agreement

Details of the US-Japan mini-trade deal are lacking but the agreements’ direct impact on the US and Japanese economies is likely to be minuscule. The deal seems to have been made to compensate American farmers – a crucial electoral base of the President – for their losses from the trade war with China.On 25th of September,  President Trump and Prime Minister Abe concluded a partial trade-agreement whose main provisions are to reduce Japan’s tariffs on some agricultural goods and to reduce US...

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Brexit: a European Odyssey

Nicholas Barrett and Guntram Wolff talk to Kalypso Nicolaïdis, author of Exodus, Reckoning, Sacrifice: Three Meanings of Brexit. Together they discuss the mythology that binds Britain to continental Europe By: The Sound of Economics Date: October 11, 2019 Topic: European Macroeconomics & Governance In June 2016, 17.4 million people voted to leave the European Union. Since then, Brexit has descended into a complicated and polarising melodrama. But beyond the technical and...

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With or without you: are central European countries ready for the euro?

The debate on euro adoption by central European EU countries has intensified in the last years. In this Policy Contribution the author does not review all the complex aspects of euro-area enlargement, but analyse a particularly important issue: the build-up of macroeconomic vulnerabilities and the subsequent adjustments. By: Zsolt Darvas Date: October 10, 2019 Topic: European Macroeconomics & Governance Southern European euro-area members suffered from unsustainable developments...

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Long term real interest rates fell below zero in all euro area countries

The 10-year real government bond yield, which is the nominal yield deflated by expected inflation, has fallen below zero in Italy and Greece, boosted by increased market confidence for their new governments. Romania is the only remaining EU country with a positive real interest rate. Negative real interest rates vastly help fiscal sustainability and provide a great opportunity to invest in much needed infrastructure and the transition to a carbon-neutral economy. By: Zsolt Darvas Date:...

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Europe: en finir avec la politique en silos

Projetée dans un monde de rapport de force dont les principaux protagonistes ne séparent pas géopolitique et économie, l’UE va devoir conduire un changement de logiciel culturel, une mutation organisationnelle et un rééquipement opérationnel, explique l’économiste Jean Pisani-Ferry. By: Jean Pisani-Ferry Date: October 8, 2019 Topic: European Macroeconomics & Governance La nouvelle présidente de la Commission européenne, Ursula von der Leyen, s’est donné pour but de bâtir une...

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The Case for Intelligent Industrial Policy

Although national industrial policies have a bad reputation, there is a strong case for government support to sectors that will increasingly rely on artificial intelligence. In this regard, the German government’s plan to promote production of electric-car batteries may accelerate an industrial renaissance in Europe. By: Dalia Marin Date: October 7, 2019 Topic: European Macroeconomics & Governance Earlier this year, German Economy Minister Peter Altmaier unveiled his “National...

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