This policy brief warns about the risks of discontinuing the policy responses to the COVID-19 crisis by pursuing exit strategies too early and/or too sharply. It outlines a comprehensive strategy for limiting such risks globally and offers an in-depth discussion of the European situation. Due to...

In concise, non-technical terms, Paul De Grauwe, Professor of Economics at Leuven University and Senior Associate Research Fellow at CEPS, explains how the current financial crisis in the eurozone developed, distinguishing in turn the three main actors that have played a major role: Greece, the...

Is secular stagnation a valid concern for Euro Area countries? We tackle this question using the well-established Laubach-Williams model to estimate the unobservable equilibrium real interest rate and compare it to the actual real rate. We apply our approach to twelve Euro Area countries, since...