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# Publications

Europe in a new world order

This policy brief was first published on Bruegel. The pdf is available here. The issue The United States is the European Union’s most important trade and bilateral investment partner, which has, until now, supported a mu...

17th February 2017 by Guntram Wolff 3057 views

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# Publications

Making the best of the European single market

Now more than ever, the EU needs to address concerns about the significant decline in productivity growth and the increasing perception of unfairness. Completing the single market would unlock the EU’s growth poten...

2nd February 2017 by Guntram Wolff 2507 views

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# Publications

Is Brexit an opportunity to reform the European Parliament?

Brexit offers a political opportunity for the European Parliament to reform the allocation of seats to member states. This Policy Contribution explores different options for reform and their implications for equality of ...

27th January 2017 by Guntram Wolff 3076 views

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# Publications

What impact does the ECB’s quantitative easing policy have on bank profitability?

Quantitative easing (QE) affects banks’ profitability in three main ways. First, as QE drives up bond prices, banks holding such bonds see their balance sheets strengthened. Second, QE reduces long-term yields and thereb...

30th November 2016 by Guntram Wolff 3189 views

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# Publications

An anatomy of inclusive growth in Europe

This Blueprint offers an in-depth analysis of inequalities of income and wealth in the EU, as well as their causes and consequences. How evenly are the benefits of growth distributed in our economies, and what does this ...

27th October 2016 by Guntram Wolff 4305 views

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# Publications

What are the prerequisites for a euro-area fiscal capacity?

This paper is a background note for a presentation at the Informal ECOFIN meeting of EU finance ministers and central bank governors in Bratislava on September 9, 2016. policy contribution, summary sent to ministers, spe...

12th September 2016 by Guntram Wolff 2679 views

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# Publications

Europe after Brexit: A proposal for a continental partnership

After the British decision to leave the EU, Europe’s trajectory, even its destiny, has again become a matter of choice. In an increasingly volatile world, neither the EU nor the UK have an interest in a divorce that dimi...

29th August 2016 by Guntram Wolff 3374 views

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# Publications

The effectiveness of the European Central Bank’s Asset Purchase Programme

Since the end of 2014, inflation has been at or very close to zero. With very little ability to move the actual interest rate further into negative territory, the ECB has resorted to unconventional measures. The latest o...

23rd June 2016 by Guntram Wolff 2522 views

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# Publications

Which fiscal union for the euro area?

The construction of the euro area left aside the question of a fiscal union, but the crisis re-opened the debate. Read the full paper here. The paper was first published for the Conseil d’analyse économique in Fren...

18th February 2016 by Guntram Wolff 3080 views

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# Publications

One market, two monies: the European Union and the United Kingdom

The issue Access to the single market is one of the core benefits of the United Kingdom’s membership of the European Union. A vote to leave the EU would trigger difficult negotiations on continued access to that market. ...

28th January 2016 by Guntram Wolff 3104 views