It is often claimed that tax and welfare reforms that aim at enhancing efficiency may come at the cost of cyclical stabilisation. Reducing the generosity of welfare systems and lowering taxes may boost efficiency and output, and improve market adjustment to shocks. But, by reducing the size of...

EU economic policies need to be fundamentally reoriented to deliver European public good (EPGs) in economic and non-economic areas. To attain that, an approach that overcomes the sterile debate between risk reduction and risk sharing is needed. "Genuine" EPGs in the area of the green and digital...