Friday , October 15 2021
Home / Tag Archives: European Commission

Tag Archives: European Commission

Fit for 55 marks Europe’s climate moment of truth

With Fit for 55, Europe is the global first mover in turning a long-term net-zero goal into real-world policies, marking the entry of climate policy into the daily life of all citizens and businesses. The author is grateful to Maria Demertzis, Guntram B. Wolff and Georg Zachmann for their comments on previous drafts. The European Commission’s long-awaited ‘Fit for 55’ package, intended to facilitate a European Union greenhouse gas emissions cut of 55% by 2030 compared to 1990, has as its...

Read More »

Setting Europe’s economic recovery in motion: a first look at national plans

Plans for spending European Union recovery funds submitted by the four largest EU countries reflect rather different priorities. So far, only Italy is interested in borrowing from the EU. European Union countries are starting to set out how they plan to spend money from Next Generation EU (NGEU), the EU’s landmark instrument for recovery from the coronavirus pandemic. In late April, countries began submitting their recovery and resilience plans. A first quick analysis shows that the plans of...

Read More »

We need more bias in artificial intelligence

What makes one vision more desirable than another is not its neutrality, but whether it can better serve one’s goals in the context of where those goals are being pursued. By: Mario Mariniello Date: April 21, 2021 Topic: European Macroeconomics & Governance This opinion piece is forthcoming in Il Sole 24 Ore. The Muller-Lyer optical illusion consists of two lines of equal length that differ only in the direction of arrowheads at either end. Yet, to most observers, the line...

Read More »

Evidence from the European Commission: Does it matter how policymakers consult external stakeholders?

Policymakers often consult a range of stakeholders, such as interest groups representing businesses or citizens, before they make decisions. But do the particular consultation tools used matter for the outcomes of this process? Drawing on a new study of the consultation tools used by the European Commission, Bert Fraussen, Adrià Albareda and Caelesta Braun suggests that despite the recent trend of using ‘open’ approaches such as online consultations, ‘closed’ consultation approaches in...

Read More »

Has the European Union squandered its coronavirus vaccination opportunity?

The European Union’s purchases of frontrunner coronavirus vaccines are insufficient for the population’s near-term needs. The shortfall could have healthcare consequences and might delay economic reopening. Lessons should be learned for future pandemics. Worldwide progress on the development on safe, effective vaccines against the coronavirus has been impressively fast. Three vaccines have been approved in the EU, the United Kingdom or the United States (Table 1). Given the lack of effective...

Read More »

When the future changes the past: fiscal indicator revisions

The 2020 pandemic economic shock has led to reassessment of fiscal policy measures in 2018 and earlier, because of faulty measurement of unobserved output gaps and structural balances. The current period of suspension of EU fiscal rules should be used to design a better fiscal framework. By: Zsolt Darvas Date: January 5, 2021 Topic: European Macroeconomics & Governance The COVID-19 pandemic and the subsequent economic distress caught everyone by surprise. In late 2019,...

Read More »

Common eurobonds should become Europe’s safe asset – but they don’t need to be green

The plan to fund the European Union’s recovery programme via debt issuance has raised hopes that a new type of euro-denominated safe asset could emerge. As a priority, the European Commission needs a strategy to create a liquid and transparent market in EU bonds. For now, funding through EU green bonds would complicate that effort. By: Alexander Lehmann Date: September 28, 2020 Topic: Finance & Financial Regulation To fund its future programmes, SURE (employment support, €100...

Read More »

A tale of two pandemics

The two narratives briefly examined here cast light on different aspects of the EU in the times of Covid-19. Euroskeptic nationalists typically propagate claims of EU failure but have been rather subdued during the pandemic as mainstream governments have taken over their trademark policy of closing borders to foreigners. Nonetheless, the grip on power of several pro-EU mainstream leaders, including President Emmanuel Macron in France, Prime Minister Conte in Italy and Prime Minister Pedro...

Read More »

A European carbon border tax: much pain, little gain

The European Commission should not make the implementation of a carbon border adjustment mechanism into a must-have element of its climate policy. There is little in the way of strong empirical evidence that would justify a carbon-adjustment measure. Moreover, significant logistical, legal and political challenges will arise during the design. The EU should instead focus upon the implementation of measures to trigger the development of a competitive low-carbon industry in Europe.The European...

Read More »

The EU’s plan to catch up on artificial intelligence

While the US and China have been setting the pace when it comes to Artificial Intelligence, the European Union seems to be lagging behind. What are the Commission's plans to finally catch up? Will AI increase the gap between big and small companies? This week, Nicholas Barrett is joined by Julia Anderson and Guntram Wolff to discuss the EU's plan for AI. By: The Sound of Economics Date: February 14, 2020 Topic: Innovation & Competition Policy

Read More »