So far apart and yet so close- Should the ECB care about inflation differentials- (English)-page-001

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# Publications

So far apart and yet so close: Should the ECB care about inflation differentials?

Inflation rates can differ across regions of monetary unions. We show that in the euro area, the US, Canada, Japan and Australia, inflation rates have been substantially and persistently different in different regions. D...

22nd September 2014 by Zsolt Darvas and Guntram B. Wolff 4872 views

Benefits and drawback of European Unemployment Insurance (English)-page-001

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# Publications

Benefits and drawbacks of European Unemployment Insurance

The issue: Unemployment in Europe has increased to high levels and economic growth has remained subdued. A debate on additional policy instruments to address the situation is therefore warranted. Fiscal stabilisation mec...

13th September 2014 by Grégory Claeys, Zsolt Darvas and Guntram B. Wolff 3998 views

# Publications

EU to DO 2015-2019: Memos to the new EU leadership

‘There is now a distinct possibility that this crisis will be remembered as the occasion when Europe irretrievably lost ground, both economically and politically’. This was the starting sentence of our memos to the new E...

Tax harmonization in Europe- Moving forward (English)-page-001

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# Publications

Tax harmonization in Europe: Moving forward

The debate on tax competition opposes those who praise its positive effect on government efficiency, and those who accuse it of distorting public choices, inducing inequality but also undermining the functioning of marke...

17th July 2014 by Agnès Bénassy-Quéré, Alain Trannoy and Guntram B. Wolff 3736 views

The great transformation- Memo to the incoming EU Presidents (English)-page-001

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The great transformation: Memo to the incoming EU Presidents

The European Union’s leadership spent the last five years fighting an acute and existential crisis. The next five years, under your leadership, will be no less difficult. You will have to tackle difficult economic and in...

3rd July 2014 by André Sapir and Guntram B. Wolff 2314 views

No Industry, no Future- (English)-page-001

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No Industry, no Future?

In a context of weak growth, high unemployment, unbalanced public finances and persistent external deficit,we are witnessing the return of a proactive approach to industrial policy and, even in France the return of direc...

19th June 2014 by Lionel Fontagné, Pierre Mohnen and Guntram B. Wolff 1896 views

Addressing weak inflation- The European Central Bank s shopping list (English)-page-001

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Addressing weak inflation: The European Central Bank’s shopping list

There are clear benefits to price stability. High inflation can distort corporate investment decisions and the consumption behaviour of households. Changes to inflation redistribute real wealth and income between differe...

6th May 2014 by Grégory Claeys, Zsolt Darvas, Silvia Merler and Guntram B. Wolff 4483 views

Japan and the EU in the global economy (English)-page-001

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# Publications

Japan and the EU in the global economy

Why is Japan a good case study to help Europe overcome the economic and ﬁnancial crisis that started more than ﬁve years ago? What can Japan learn from Europe’s experience? Japan and the EU are both open econ...

Europe s social problem and its implications for economic growth (English)-page-001

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# Publications

Europe’s social problem and its implications for economic growth

The European Union faces major social problems. More than six million jobs were lost from 2008-13 and poverty has increased. Fiscal consolidation has generally attempted to spare social protection from spending cuts, but...

1st April 2014 by Zsolt Darvas and Guntram B. Wolff 2136 views

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# Publications

The long haul: managing exit from financial assistance

Countries can make a clean exit from financial assistance, or enter a new programme or a precautionary programme, depending on the sustainability of their public debt and their vulnerability to shocks. Ireland mad...

20th February 2014 by Zsolt Darvas, André Sapir and Guntram B. Wolff 1881 views