Die Staatsschuldenquoten werden infolge der Coronakrise weltweit erheblich steigen. Angesichts des strikten fiskalischen Regelwerks für die Mitgliedsländer der EU und insbesondere des Euroraums bedeutet das eine enorme Herausforderung. Die Europäische Kommission berät seit Anfang des Jahres...

Debt-to-GDP ratios are set to rise significantly all over the world as a result of the coronavirus crisis. This will pose a huge challenge for the EU's member states and in particular the euro area countries, because of the strict fiscal rules that apply to them. In a consultation process that...

This policy brief analyses the macroeconomic effects of the EU's Recovery and Resilience Facility (RRF). We present the basics of the RRF and then use the macroeconometric multi-country model NiGEM to analyse the facility's macroeconomic effects. The simulations show, first, that if the funds...

This study examines major reform proposals of EU fiscal rules from an economic and legal perspective. We disassemble the reform proposals in their components and analyse them in their specific proposed form in comparison, thereby shedding light on what is legally possible, economically sensible,...

Die Corona-Krise hat die sozialen Probleme in Europa schonungslos offengelegt und deutlich gemacht, wie unverzichtbar eine Stärkung der sozialen Dimension der EU ist. Der Report zeigt auf, welche Schritte dafür notwendig sind. Ziel ist eine Stärkung der Säulen des Europäischen...

This policy brief analyses the macroeconomic effects of the EU's Recovery and Resilience Facility (RRF). We present the basics of the RRF and then use the macroeconometric multi-country model NiGEM to analyse the facility's macroeconomic effects. The simulations show, first, that if the funds...

Some important progress has been made since the crisis, belatedly and often imperfectly, in reforming the institutional framework of the Euro Area. However, the existential weaknesses - redenomination risk given doubts about the effectiveness of the Lender-of-Last-Resort function and the...

Die Staatsschuldenquoten werden infolge der Coronakrise weltweit erheblich steigen. Angesichts des strikten fiskalischen Regelwerks für die Mitgliedsländer der EU und insbesondere des Euroraums bedeutet das eine enorme Herausforderung. Die Europäische Kommission berät seit Anfang des Jahres...

Debt-to-GDP ratios are set to rise significantly all over the world as a result of the coronavirus crisis. This will pose a huge challenge for the EU's member states and in particular the euro area countries, because of the strict fiscal rules that apply to them. In a consultation process that...