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# Publications

What drives national implementation of EU policy recommendations?

We use a newly-compiled dataset to investigate whether and why European Union countries implement the economic policy recommendations they receive from the EU. We find that implementation rates are modest and have worsen...

25th April 2019 by KONSTANTINOS EFSTATHIOU AND GUNTRAM B. WOLFF 962 views

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# Publications

Promoting sustainable and inclusive growth and convergence in the European Union

This Policy Contribution was written for the Informal ECOFIN Meeting, Bucharest, 5 April 2019. The authors look at the EU’s economic agenda, discussing the priorities for the next five years. It can be downloaded HERE. M...

5th April 2019 by Maria Demertzis, André Sapir, Guntram Wolff 1426 views

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# Publications

The European Union’s response to the trade crisis

The global trading system, a source of prosperity, is under attack on various fronts. The causes run deep and require a strategic response from the European Union and from the main trading nations. The future of the syst...

15th March 2019 by Uri Dadush, Guntram Wolff 997 views

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# Publications

The implications of no-deal Brexit: is the European Union prepared?

This Policy Contribution, based on a note written for the Bundestag EU Committee, explores the possible consequences of a no-deal Brexit for the European Union and assesses preparations on the EU side. It also provides g...

15th January 2019 by Guntram Wolff 1290 views

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# Publications

How to provide liquidity to banks after resolution in Europe’s banking union

Banks deemed to be failing or likely to fail in the banking union are either put into insolvency/liquidation or enter a resolution scheme to protect the public interest. After resolution but before full market confidence...

22nd November 2018 by MARIA DEMERTZIS, INÊS GONCALVES RAPOSO, PIA HÜTTL AND GUNTRAM B. WOLFF 1782 views

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# Publications

One size does not fit all: European integration by differentiation

THE ISSUE Reforming the governance of the European Union has become urgent for three reasons: to better deal with politically-sensitive topics, to manage greater external challenges and because future EU enlargement will...

19th September 2018 by MARIA DEMERTZIS, JEAN PISANI-FERRY, ANDRÉ SAPIR, THOMAS WIESER AND GUNTRAM B. WOLFF 1173 views

# Publications

The EU’s Multiannual Financial Framework and some implications for CESEE countries

The European Union’s budget – which is fundamentally different from the budgets of federal countries and amounts to only about 1% of the EU’s gross national income – continues to be heavy on agricultural and cohesion spe...

17th September 2018 by Zsolt Darvas, Guntram B. Wolff 817 views

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# Publications

The economic potential and risks of crypto assets: is a regulatory framework needed?

This paper was paper written at the request of the Austrian Presidency of the Council of the European Union for the informal ECOFIN meeting of EU finance ministers and central bank governors (September 2018) and was pres...

6th September 2018 by Maria Demertzis, Guntram B. Wolff 1192 views

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# Publications

Is the European Semester effective and useful?

We study whether and to what extent EU countries implement recommendations on macroeconomic imbalances given by the EU in the so-called European Semester. Overall implementation of recommendations by EU countries has wor...

13th June 2018 by KONSTANTINOS EFSTATHIOU AND GUNTRAM B. WOLFF 995 views

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# Publications

EU funds for migration, asylum and integration policies

The European Union significantly increased its funding for migration, asylum and integration policies in the wake of the increased inflow of asylum seekers in 2015. This study provides an overview, an analysis and an eva...

23rd May 2018 by FRANCESCO CHIACCHIO, ZSOLT DARVAS, KONSTANTINOS EFSTATHIOU, INÊS GONCALVES RAPOSO AND GUNTRAM B. WOLFF 1151 views