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Tag Archives: European Macroeconomics & Governance

Wealth distribution and social mobility

This report explores the distribution of household wealth in the EU Member States and analyses of the role of wealth in social mobility. Abstract This report explores the distribution of household wealth in the EU Member States and analyses the role of wealth in social mobility. Using data from three datasets (the Household Finance and Consumption Survey, the Survey of Health, Ageing and Retirement in Europe and the Luxembourg Wealth Study), it focuses on wealth per household member. Wealth...

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The unequal inequality impact of the COVID-19 pandemic

Less-educated workers have suffered most from job losses in the COVID-19 pandemic, and it is quite likely there was a significant increase in European Union income inequality in 2020. By: Zsolt Darvas Date: March 30, 2021 Topic: European Macroeconomics & Governance The author is grateful for comments and suggestions to conference and seminar participants at Bruegel, Institute of Economics of the Corvinus University of Budapest, Rajk College, and the 15th Conference on Social...

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Financial literacy and the fearless woman

Many gender gaps persist, but an important one that puts women in a very disadvantageous position is the gap in financial literacy. By: Maria Demertzis Date: March 30, 2021 Topic: European Macroeconomics & Governance This opinion piece was originally published in the Money Review section of Kathimerini and is forthcoming in El Economista. In New York’s financial district stands a small bronze sculpture titled the Fearless Girl. The statue was meant to promote female...

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Gender gap in financial literacy: a lack of knowledge or confidence?

“If women and girls are fearless, they will benefit by becoming more financially independent, more financially secure, more in control of their future and society will benefit.” By: The Sound of Economics Date: March 24, 2021 Topic: European Macroeconomics & Governance Women are less financially literate than men. But does this gap reflect a lack of knowledge or a lack of confidence? To find out Maria Demertzis, deputy director of Bruegel is joined by Annamaria Lusardi,...

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Letter: ‘Strategic autonomy’ is now an EU catchphrase

Strategic autonomy should not be an illusionary search for independence, but rather a strategic management of interdependence, based on diversification of supply chains. By: Simone Tagliapietra Date: March 24, 2021 Topic: European Macroeconomics & Governance This Letter was originally published in the Financial Times in response to an opinion by Philip Stephens on supply chain ‘sovereignty’. Philip Stephens’ article “Supply chain ‘sovereignty’ will undo the gains of...

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How has COVID-19 affected inflation measurement in the euro area?

COVID-19 has complicated inflation measurement. Policymakers need to take this into account and should look at alternative measures of inflation to understand what is actually happening in the economy. It might seem minor alongside the huge damage to people and economies done by COVID-19, but one of the consequences of the pandemic has been to throw into disarray the measurement of inflation. Eurostat’s final estimate for inflation in the euro-area in January 2021 showed the biggest increase...

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An update: Vaccination in the EU

Progress has been made, but more progress is needed. The slow pace of COVID-19 vaccinations in the EU has been a cause of great concern, and with good reason. It is causing loss of life and well-being, as well as harm to the EU economy. When we say that the pace of vaccination is slow, it is natural to ask: compared to what? The figure below depicts the number of COVID-19 cases per day per million of population and the current rate of vaccinations per day for a broad selection of OECD...

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Keeping momentum on good governance

Transparency, human rights and good governance: a conversation with Katalin Cseh MEP By: The Sound of Economics Date: March 17, 2021 Topic: European Macroeconomics & Governance Pandemic aside, the past year has seen renewed discussions in Europe on transparency and good governance as the EU takes an unprecedented role in health policy and procurement and in the creation of common debt. As part of an ongoing effort to capture a wide range of views from the European Parliament,...

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Low interest rates: a transatlantic phenomenon

Structural factors are putting downward pressure on rates: is it time for macroeconomic policy to play second fiddle in managing demand? By: The Sound of Economics Date: March 10, 2021 Topic: European Macroeconomics & Governance Maria Demertzis and Nicola Vegi  join Giuseppe Porcaro to talk about their recent research on low interest rates, declining productivity growth and how to tackle this. In both Europe and the United States, interest rates have been declining for more...

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Low interest rates in Europe and the US: one trend, two stories

Interest rates have been on a long-term decline, associated with declining productivity growth. To tackle this, the priorities are to reduce market concentration and, in Europe, change the financing model. We thank Lionel Guetta-Jeanrenaud for excellent research assistance and Faÿçal Hafied for drawing our attention to ESOPs. We are grateful to seminar participants at Bruegel for comments and suggestions. This research has received funding from the European Union’s Horizon 2020 research and...

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