209

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Riječ(i)
Vrsta publikacije
Područje politike
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Ključna riječ
Datum

When and how to unwind COVID-support measures to the banking system? The quest for safe landing place

17-03-2021

Bank loans increased considerably in 2020, due to an unprecedented wave of extraordinary measures aimed at supporting bank borrowers. Where constraints posed by public-sector deficits were tighter, the response was more focused on contingent/fiscally-neutral measures (e.g. public guarantees and moratoria), which might lead to greater unbalances in the future. Post-Covid recovery can be expected to be selective in nature, both across industries and within. Accordingly, emergency measures cannot simply ...

Bank loans increased considerably in 2020, due to an unprecedented wave of extraordinary measures aimed at supporting bank borrowers. Where constraints posed by public-sector deficits were tighter, the response was more focused on contingent/fiscally-neutral measures (e.g. public guarantees and moratoria), which might lead to greater unbalances in the future. Post-Covid recovery can be expected to be selective in nature, both across industries and within. Accordingly, emergency measures cannot simply be dismantled, but rather must be replaced by interventions aimed at smoothing the transition towards a different economic environment.

Vanjski autor

A. Resti

Thinking Beyond the Pandemic: Monetary Policy Challenges in the Medium- to Long-Term

12-03-2021

The economic characteristics of the COVID-19 crisis differ from those of previous crises. It is a combination of demand- and supply-side constraints which led to the formation of a monetary overhang that will be unfrozen once the pandemic ends. Monetary policy must take this effect into consideration, along with other pro-inflationary factors, in the post-pandemic era. It must also think in advance about how to avoid a policy trap coming from fiscal dominance. This paper was provided by the Policy ...

The economic characteristics of the COVID-19 crisis differ from those of previous crises. It is a combination of demand- and supply-side constraints which led to the formation of a monetary overhang that will be unfrozen once the pandemic ends. Monetary policy must take this effect into consideration, along with other pro-inflationary factors, in the post-pandemic era. It must also think in advance about how to avoid a policy trap coming from fiscal dominance. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 18 March 2021.

Vanjski autor

Marek DABROWSKI

Challenges and concerns for small and medium-sized enterprises (SMEs) doing business in third countries

08-03-2021

This briefing discusses the main challenges and concerns for SMEs doing business in third countries. First, we show the current situation of European SMEs with respect to internationalisation and highlight the corresponding benefits. Second, based on previous literature on the topic, we distinguish between SMEs without international operations and SMEs that are already internationalised and discuss how different barriers can affect them.

This briefing discusses the main challenges and concerns for SMEs doing business in third countries. First, we show the current situation of European SMEs with respect to internationalisation and highlight the corresponding benefits. Second, based on previous literature on the topic, we distinguish between SMEs without international operations and SMEs that are already internationalised and discuss how different barriers can affect them.

Vanjski autor

Nazareno BRAITO, Davide CECCANTI, Duy HUYNH-OLESEN

From the Cliff to the Top: The Path to a Resilient and Sustainable Europe

01-03-2021

The European Union has put in place an extraordinary array of policy measures to mitigate the devastating economic consequences of the COVID-19 pandemic. The sheer amount and extent of the support economic lifelines makes a rushed termination of policies potentially subject to dire cliff effects. Avoiding these cliff effects requires a combination of decisive and long-lasting fiscal stimuli with an accommodating monetary stance, as well as a renewed European strategy that presents a unified fiscal ...

The European Union has put in place an extraordinary array of policy measures to mitigate the devastating economic consequences of the COVID-19 pandemic. The sheer amount and extent of the support economic lifelines makes a rushed termination of policies potentially subject to dire cliff effects. Avoiding these cliff effects requires a combination of decisive and long-lasting fiscal stimuli with an accommodating monetary stance, as well as a renewed European strategy that presents a unified fiscal policy, growth-enhancing investments, and a green modernisation of the economy. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 18 March 2021.

Vanjski autor

Jan Phillip FRITSCHE, Anna GIBERT, Chi Hyun KIM

Balanced Withdrawal of Policy Support to Avoid Cliff Effects

01-03-2021

The COVID-19 crisis has triggered unprecedented concerted economic policy response. The paper investigates potential cliff effects that may arise from the temporary nature of the measures adopted and their different phase-out schedules. It finds that the concern that premature policy tightening could jeopardise the recovery are overblown. The major challenges for economic policy lie in the medium term. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies ...

The COVID-19 crisis has triggered unprecedented concerted economic policy response. The paper investigates potential cliff effects that may arise from the temporary nature of the measures adopted and their different phase-out schedules. It finds that the concern that premature policy tightening could jeopardise the recovery are overblown. The major challenges for economic policy lie in the medium term. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 18 March 2021.

Vanjski autor

Klaus-Jürgen GERN

Coronavirus: Uncertainty and discontent [What Think Tanks are thinking]

04-02-2021

As the latest wave of the coronavirus pandemic intensifies and some highly infectious new mutations of the virus spread, a growing number of countries have increased restrictions on travel and some lockdowns have been intensified. Whilst a series of vaccines are progressively gaining official approval, and their roll-out has started, pharmaceutical companies struggle with production capacity issues, the effectiveness of the vaccines on mutations is still uncertain, and a broader debate is opening ...

As the latest wave of the coronavirus pandemic intensifies and some highly infectious new mutations of the virus spread, a growing number of countries have increased restrictions on travel and some lockdowns have been intensified. Whilst a series of vaccines are progressively gaining official approval, and their roll-out has started, pharmaceutical companies struggle with production capacity issues, the effectiveness of the vaccines on mutations is still uncertain, and a broader debate is opening up on the global fairness of vaccine distribution beyond the ‘first’ world. This note offers links to recent commentaries, studies and reports from international think tanks on the coronavirus and related issues. More studies on the topics can be found in a previous edition in this series, published in December 2020.

Digital finance: Emerging risks in crypto-assets – Regulatory and supervisory challenges in the area of financial services, institutions and markets

17-09-2020

The rapid growth of digital finance and crypto-assets has raised questions about the appropriate regulatory perimeter and the ability of the existing regulatory architecture to adapt to changing conditions. In this study, we evaluate the impact in terms of benefits and in terms of risk reduction that the adoption of an EU legislative initiative on a framework for crypto-assets, on cyber-resilience and on a data strategy would bring.

The rapid growth of digital finance and crypto-assets has raised questions about the appropriate regulatory perimeter and the ability of the existing regulatory architecture to adapt to changing conditions. In this study, we evaluate the impact in terms of benefits and in terms of risk reduction that the adoption of an EU legislative initiative on a framework for crypto-assets, on cyber-resilience and on a data strategy would bring.

The platform economy and precarious work

11-09-2020

Platform work has rapidly developed since it first emerged in the EU, though concerns have been raised about the employment and working conditions of platform work and the risk of precariousness it entails. Platform work has, therefore, been identified as a policy priority by European policy-makers. This study presents an analytical literature review that focuses on the challenges and risks of precariousness of platform work and explores possible pathways for EU action. It covers aspects of the ...

Platform work has rapidly developed since it first emerged in the EU, though concerns have been raised about the employment and working conditions of platform work and the risk of precariousness it entails. Platform work has, therefore, been identified as a policy priority by European policy-makers. This study presents an analytical literature review that focuses on the challenges and risks of precariousness of platform work and explores possible pathways for EU action. It covers aspects of the COVID-19 pandemic. The analysis was prepared at the request of the Committee on Employment and Social Affairs of the European Parliament.

Vanjski autor

Harald Hauben (ed.), Karolien Lenaerts,Willem Waeyaert

An EU legal framework to halt and reverse EU-driven global deforestation: European added value assessment

08-09-2020

Deforestation caused by agricultural activity is continuing at an alarming rate, threatening irreplaceable tropical forests that, among other things, are crucial for fighting climate change. The EU bears its share of responsibility for this environmental loss, as it is one of the major importers of several forest-risk commodities. To date, action has been taken at different levels to stop commodity-driven deforestation. Nevertheless, the impact on forest loss has been low as deforestation continues ...

Deforestation caused by agricultural activity is continuing at an alarming rate, threatening irreplaceable tropical forests that, among other things, are crucial for fighting climate change. The EU bears its share of responsibility for this environmental loss, as it is one of the major importers of several forest-risk commodities. To date, action has been taken at different levels to stop commodity-driven deforestation. Nevertheless, the impact on forest loss has been low as deforestation continues and new hot spots occur. There has been a recent commitment at EU level to propose new measures to minimise the risk of deforestation and forest degradation associated with products placed on the EU market. This European added value assessment (EAVA) accompanies the European Parliament's own-initiative legislative report calling on the European Commission to take legislative action on the matter. The EAVA looks at why EU action is needed and analyses four potential demand-side regulatory policy options at EU level. A quantitative analysis reveals that to varying extents, all options have the potential to reduce EU-driven deforestation and associated carbon emissions, while having a relatively small impact on the EU economy

Employment and social situation in Germany

15-04-2020

This study of the labour market and social situation in Germany looks into major employment trends including atypical employment, unemployment and underemployment. It presents policy responses and major challenges for the future, such as digitisation and demographic change. Further, it explores policy action to fight poverty, trends in the German social partnership model and in the skills development system. Finally, it describes the contribution of the European Social Fund. The note covers aspects ...

This study of the labour market and social situation in Germany looks into major employment trends including atypical employment, unemployment and underemployment. It presents policy responses and major challenges for the future, such as digitisation and demographic change. Further, it explores policy action to fight poverty, trends in the German social partnership model and in the skills development system. Finally, it describes the contribution of the European Social Fund. The note covers aspects of the COVID-19 pandemic.

Vanjski autor

Nicola Duell, Tim Vetter

Buduća događanja

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Turning the tide on cancer: the national parliaments' view on Europe's Cancer Plan
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BECA
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INTA
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Consumer protection and automated decision-making tools in a modern economy
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IMCO

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