This Policy Letter presents a proposal for designing a program of government assistance for firms hurt by the Coronavirus crisis in the European Union (EU). In our recent Policy Letter 81, we introduced a new, equity-type instrument, a cash-against-tax surcharge scheme, bundled across firms and...

Covers ETFs - the hottest investment product of the new century. Explains the nature of this new investment class and all advantages of these instruments. Provides a deep insight into the market and the development of that asset class during the past ten years. Some of the information in this...

We study euro area investors' portfolio adjustment since the Brexit referendum in terms of securities issued in the UK or denominated in pound sterling, in the context of heightened policy uncertainty surrounding the exit process of the UK from the EU. Our sector-level analysis "looks-through"...

Chapter 1. The Corruption Problem in Europe -- Chapter 2: An Analysis of the Efficiency of European Funds -- Chapter 3: Fighting Fraud and Corruption in European Structural and Investments Funds -- Chapter 4: Innovative Methods for Predicting Fraud and Corruption -- Chapter 5: Conclusion.

European leaders debate the establishment of a "European Recovery Fund" (ERF). The ERF shall help the European economy to restart growth after the COVID-19 pandemic-related recession that is currently unfolding. Early national and European fiscal measures of anti-crisis policy have been focused...

While climate change has long called for a green shift in our economies, the current energy crisis leads to an increased urgency when it comes to transforming the energy and transportation systems. The Recovery and Resilience Facility (RRF), which was adopted to support recovery from the...

With the capital markets union (CMU), the European Union embarked on one of its yet most ambitious and potentially most relevant reform projects. However, the huge potential for the European economy by a genuine CMU has not yet been realized. The key reason for this is that an important...