In the present paper we question the mainstream diagnosis of Germany's post-2000 stagnation as well as the prescribed remedies. We show that the "institutional sclerosis" view of Germany's stagnation is unfounded and that therefore the political measures proposed and actually taken are...

This note provides a brief overview of the work carried out under the auspices of DG ECFIN's fellowship initiative. While the economic policy agenda in Europe is currently dominated by lagging activity reflecting public and private balance-sheet problems and still impaired transmission of...

Summarising the findings of DG ECFIN's fellowship programme on the future of EMUDG ECFIN has now published a series of Economic Papers written by distinguished scholars in the context of its Fellowship Initiative on "The future of EMU & Economic growth perspectives for Europe". This policy brief...

Large and differentiated fiscal adjustments underway in EU countries require credible strategies, including a growth-friendly approach to consolidation design. This brief captures in a summary fashion the main underlying principles for fiscal adjustments of high quality. While setting some...