273

result(s)

Word(s)
Publication type
Policy area
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Keyword
Date

Research for the CULT Committee - Modernisation of higher education

16-10-2017

This study analyses the policy developments since the Commission’s 2011 agenda for the modernisation of Europe’s higher education systems and assess the developments against the aims of the agenda. Second, it summarises most important achievements, shortcomings and challenges, to assess the effectiveness of the policy measures taken to reach the objectives set out in the 2011 agenda. Third, it assesses the renewed EU agenda in the light of these achievements, shortcomings and challenges and its renewed ...

This study analyses the policy developments since the Commission’s 2011 agenda for the modernisation of Europe’s higher education systems and assess the developments against the aims of the agenda. Second, it summarises most important achievements, shortcomings and challenges, to assess the effectiveness of the policy measures taken to reach the objectives set out in the 2011 agenda. Third, it assesses the renewed EU agenda in the light of these achievements, shortcomings and challenges and its renewed objectives. Last, it makes recommendations for actions by the Committee including follow-up with other major stakeholders.

External author

ACA: Irina Ferencz, Bernd Wächter

The revision of the Posting of Workers Directive

12-10-2017

This briefing provides an update on the revision of the posting of workers directive in the European Parliament, and thus a follow up to the June 2016 study prepared for the EMPL Committee ‘Posting of Workers Directive - current situation and challenges’, the May 2016 EPRS appraisal of the Commission Impact Assessment ‘Revision of the Posting of Workers Directive’, and the March 2017 EPRS briefing ‘Posting of Workers Directive’.

This briefing provides an update on the revision of the posting of workers directive in the European Parliament, and thus a follow up to the June 2016 study prepared for the EMPL Committee ‘Posting of Workers Directive - current situation and challenges’, the May 2016 EPRS appraisal of the Commission Impact Assessment ‘Revision of the Posting of Workers Directive’, and the March 2017 EPRS briefing ‘Posting of Workers Directive’.

Completing the Digital Single Market for European Consumers and Citizens: Tackling Geo-blocking in the EU - 10th Meeting of the IMCO Working Group on the Digital Single Market

20-09-2017

This report summarizes the discussion during the 10th Meeting of the IMCO Working Group on the Digital Single Market. It summarizes the exchange of views between MEPs, independent academic experts and the European Commission on the topic of geo-blocking in the Digital Single Market. The proceedings were prepared by Policy Department A for the Internal Market and Consumer Protection Committee.

This report summarizes the discussion during the 10th Meeting of the IMCO Working Group on the Digital Single Market. It summarizes the exchange of views between MEPs, independent academic experts and the European Commission on the topic of geo-blocking in the Digital Single Market. The proceedings were prepared by Policy Department A for the Internal Market and Consumer Protection Committee.

External author

Ms. Chloe Grondin

Economic effects of reform in professional services

15-09-2017

This briefing is based on: World Bank Regular Economic Report; van der Marel, E., J. Kren and M. Iootty (2016) "Services in the European Union: What Kinds of Regulatory Policies Enhance Productivity?", World Bank Policy Research Paper Series, No. 7919: http://bit.ly/2dtb45p; van der Marel, E. (2017) “Reforming Services: What Policies Warrant Attention?”, ECIPE Five Freedoms Policy Brief, No. 1/2017: http://bit.ly/2uhzI3W. It was prepared by Policy Department A for the Internal Market and Consumer ...

This briefing is based on: World Bank Regular Economic Report; van der Marel, E., J. Kren and M. Iootty (2016) "Services in the European Union: What Kinds of Regulatory Policies Enhance Productivity?", World Bank Policy Research Paper Series, No. 7919: http://bit.ly/2dtb45p; van der Marel, E. (2017) “Reforming Services: What Policies Warrant Attention?”, ECIPE Five Freedoms Policy Brief, No. 1/2017: http://bit.ly/2uhzI3W. It was prepared by Policy Department A for the Internal Market and Consumer Protection Committee.

External author

Dr Erik Van Der Marel

Smart Single Market regulation in the area of professional services

15-09-2017

• In the Communication on reform recommendations [COM(2017)8290 final], the European Commission has shown how the regulation of professional services is a significant policy issue for the Single Market. It also underlines the relevance of policy action in this area in the wider context of European labour markets and EU strategies and policies. • The policy objectives for the reform recommendations need to be articulated more clearly. This includes being clear that Member States need to balance the ...

• In the Communication on reform recommendations [COM(2017)8290 final], the European Commission has shown how the regulation of professional services is a significant policy issue for the Single Market. It also underlines the relevance of policy action in this area in the wider context of European labour markets and EU strategies and policies. • The policy objectives for the reform recommendations need to be articulated more clearly. This includes being clear that Member States need to balance the costs and benefits of regulatory reform. The reform process is not just about reducing the cost of regulation, it also recognises the benefits of regulation and seeks to encourage better regulation. • Experiences during the mutual evaluation suggest strongly that Member States need guidance from the Commission on how to undertake the process of balancing costs and benefits as they implement the reform recommendations. The European Commission needs to review why Member States faced problems with this process and apply lessons learnt in order to assist Member States with the implementation of the reform recommendations. • When legislating the European Parliament should ensure that the European Commission has the following tasks: publication of detailed monitoring and evaluation plans; annual repetition of the EU Survey of Regulated Occupations; and the creation of a central repository for sharing evidence and data. • When legislating, the European Parliament should ensure that Member States are recommended to follow the guidelines on regulation of professional services issued by the European Commission and to cooperate with each other and with the European Commission in the development and sharing of evidence.

External author

Sion Jones

The corporate sector purchase programme (CSPP): Challenges and future prospects

15-09-2017

The ECB has adopted a variety of different unconventional monetary policy measures since the Global Financial Crisis. In 2016, the ECB additionally adopted the corporate sector purchase programme (CSPP), during which the ECB buys bonds of the private non-financial sector for the first time. One important reason for the adoption of the CSPP possibly was that business investment has been persistently weak in the euro area after the Global Financial Crisis. In this briefing paper, we provide a first ...

The ECB has adopted a variety of different unconventional monetary policy measures since the Global Financial Crisis. In 2016, the ECB additionally adopted the corporate sector purchase programme (CSPP), during which the ECB buys bonds of the private non-financial sector for the first time. One important reason for the adoption of the CSPP possibly was that business investment has been persistently weak in the euro area after the Global Financial Crisis. In this briefing paper, we provide a first assessment of the CSPP, including a discussion of challenges for and future prospects of the programme.

External author

Salomon FIEDLER, Nils JANNSEN, Matthias RADDANT (Kiel Institute for the World Economy)

The single monetary policy and its decentralised implementation: An assessment

15-09-2017

While the Eurosystem has considerably improved its operational transparency in the last few years, it is still lagging the Federal Reserve System (Fed), especially in terms of the information it provides on operating costs and staff numbers, for which it provides very scarce data. In addition, the available information is scattered throughout different publications, rather than being presented in a user-friendly fashion. Compared to the Fed, the Eurosystem seems to have higher staff numbers and operational ...

While the Eurosystem has considerably improved its operational transparency in the last few years, it is still lagging the Federal Reserve System (Fed), especially in terms of the information it provides on operating costs and staff numbers, for which it provides very scarce data. In addition, the available information is scattered throughout different publications, rather than being presented in a user-friendly fashion. Compared to the Fed, the Eurosystem seems to have higher staff numbers and operational costs for similar tasks. Also because of the Treaty requirement to implement monetary policy in a decentralised way, the Eurosystem’s implementation of monetary policy is fairly complex.

External author

Francesco PAPADIA, Alexander ROTH (Bruegel)

The single monetary policy and its decentralised implementation: An assessment

15-09-2017

The statutes of the European Central Bank (ECB) stipulate that it should have recourse to national central banks (NCBs) to carry out monetary policy operations. Such a structure would not be a problem if these operations were all identical across member states and if the resulting profits and losses were shared. But this is not the case today. In this sense, the euro area no longer has a ‘single’ monetary policy. There is little one can do about this situation, except to wait until the government ...

The statutes of the European Central Bank (ECB) stipulate that it should have recourse to national central banks (NCBs) to carry out monetary policy operations. Such a structure would not be a problem if these operations were all identical across member states and if the resulting profits and losses were shared. But this is not the case today. In this sense, the euro area no longer has a ‘single’ monetary policy. There is little one can do about this situation, except to wait until the government purchase programme ends and is then reversed. However, two steps could be undertaken already now: i) the granting of emergency liquidity assistance should be shifted to the ECB, and ii) the NCBs should be forbidden to undertake any financial operation that is not a direct consequence of their execution of the ECB’s monetary policy decisions. The existing stocks of assets (and liabilities), the so-called ANFA (Agreement on Net Financial Assets) holdings, which are not related to monetary policy, should be transferred to either national finance ministries or national special purpose vehicles.

External author

Daniel GROS (CEPS)

The corporate sector purchase programme (CSPP): Effectiveness and challenges ahead

15-09-2017

In March 2016 the ECB announced the launching of the Corporate Sector Purchase Programme (CSPP), enabling the direct purchase by the ECB of investment grade euro-denominated bonds issued by non-bank corporations based in the Euro area in the primary and secondary markets. Although a new monetary policy instrument in the Eurosystem, the CSPP is not a global innovation, since other central banks have resorted to similar initiatives since the onset of the Great Recession in 2008. While undoubtedly contributing ...

In March 2016 the ECB announced the launching of the Corporate Sector Purchase Programme (CSPP), enabling the direct purchase by the ECB of investment grade euro-denominated bonds issued by non-bank corporations based in the Euro area in the primary and secondary markets. Although a new monetary policy instrument in the Eurosystem, the CSPP is not a global innovation, since other central banks have resorted to similar initiatives since the onset of the Great Recession in 2008. While undoubtedly contributing to the smooth functioning of the transmission mechanism for monetary policy, CSPP also present challenges, like other aspects of the ECB’s Asset Purchase Programme. This note discusses the effectiveness of the programme and some options available to the ECB.

External author

Corrado MACCHIARELLI, Mara MONTI, Andrea VEDOLIN

Policy decentralization at the ECB

15-09-2017

The decentralized implementation of ECB policy to national central banks has raised concerns about the transparency of policy operations. We argue that these concerns are misplaced: first, the sharp monetary easing under the assets purchase programme is actually allocated according to the capital key of the ECB; second, this allocation may feed divergences between the different Eurozone member states. Though the latter point is not part of the ECB mandate, we argue that another policy may well be ...

The decentralized implementation of ECB policy to national central banks has raised concerns about the transparency of policy operations. We argue that these concerns are misplaced: first, the sharp monetary easing under the assets purchase programme is actually allocated according to the capital key of the ECB; second, this allocation may feed divergences between the different Eurozone member states. Though the latter point is not part of the ECB mandate, we argue that another policy may well be possible.

External author

Christophe BLOT, Jérôme CREEL (Sciences Po, OFCE)

Upcoming events

18-10-2017
Book presentation: 'Communitati et Orbi' by Rabbi Pinchas Goldschmidt
Other event -
EPRS
18-10-2017
INTA Workshop on EU-GCC Trade relations - 18 October 2017
Workshop -
INTA
19-10-2017
Rational optimism: Should we fear the future?
Other event -
STOA

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