The green transition of the EU economy will require substantial investment to 2030 and beyond. Estimates of green investment needs vary between institutions and are surrounded by high uncertainty, but they all point to a requirement for faster and more ambitious action. Green investment will...

The green transition of the EU economy will require substantial investment to 2030 and beyond. Estimates of green investment needs vary between institutions and are surrounded by high uncertainty, but they all point to a requirement for faster and more ambitious action. Green investment will...

We develop an endogenous growth model to quantify how permanent structural policy changes that enhance the fiscal policy mix, markets' functioning, and public institutions' quality affect long-term growth and welfare. The reforms include increased public investment, reduced market power through...

This paper examines the impact of labour market and product market reforms on income inequality for 25 OECD countries, using the local projections approach and updates of the reform indicators put together by Duval et al. (2018) until 2020. Our results suggest that both types of (endogenized)...

Recent research suggests that uncertainty has detrimental long-run effects on output. We provide empirical evidence that this is not always the case. We show that uncertainty can have positive long-run effects on output when an uncertainty shock leads to an exchange rate depreciation and...

We develop an endogenous growth model to quantify how permanent structural policy changes that enhance the fiscal policy mix, markets' functioning, and public institutions' quality affect long-term growth and welfare. The reforms include increased public investment, reduced market power through...

The European place-based policy framework was established in the European Treaties and has a current budget of $60-70 billion per year. This paper identifies key features and directions for its future development with respect to three place-based problems: traditionally lagging regions;...

"Nations are at a pivotal moment, grappling with significant macroeconomic challenges that impede structural reform and industrial development. From volatile global markets to domestic pressures of modernization and workforce transitions, they must address complex economic hurdles while striving...

This article analyzes sectors of specialization and sectoral dynamics in the regions of the Russian Federation from 2005 to 2015. The study is based on the methodology of the European Cluster Observatory in the 2016 edition as revised by the authors. It proposes a typology of regions depending...

This paper studies the impact of product and labour market structural reforms and the effects of their joint implementation with alternative debt consolidation strategies. The set-up is a DSGE model calibrated for the Greek economy. The results show that structural reforms produce important...

This study presents the implementation progress of the post-2010 reform in the road haulage sector of Greece that removed earlier regulatory barriers to competition. The legislative interventions since 2010 are reviewed in light of the international best practices and are assessed in terms of...

Die Weltwirtschaft steuert in Richtung ökologischer Nachhaltigkeit. Aufgrund einer immer stringenteren umwelt- und klimapolitischen Regulierung setzen sich neue nachhaltige Technologien und Geschäftsmodelle durch. Diese wiederum verändern Wettbewerbsbedingungen und Standortvorteile. Kluge...

Gegenstand der vorliegenden Fallstudie ist der durch die geringe internationale Wettbewerbsfähigkeit des deutschen Steinkohlebergbaus ausgelöste Strukturwandel im Ruhrgebiet im Untersuchungszeitraum von Ende der 1950er Jahre bis 2015. Die Fallstudie beschreibt den historischen...

Effective policies to mitigate climate change need to be accompanied by a socially just transition. This is especially relevant for coal regions. This paper draws on the experiences of past and ongoing transition policies, exploring their effectiveness and transferability. The challenges of...

"Nigeria has for long been regarded as the poster child for the 'curse' of oil wealth. Yet despite this, Nigeria achieved strong economic growth for over a decade in the 21st century, driven largely by policy reforms in non-oil sectors. This book argues that Nigeria's major development challenge...

Aggregate business investment is a major driver of long-term economic growth. It has been weak in many advanced economies over the last decade, partly due to cyclical demand-side effects. Nevertheless, a number of structural factors and policies interact with and have an effect on business...

The ongoing regulatory transformation towards a single European electricity market started several years ago. The rationale of this transformation is that the liberalisation of monopolistic energy structures should lead to the building of sustainable and flexible energy ecosystems, through an...

Both OECD and developing economies have embarked on structural reforms aimed at dismantling regulations and reducing the extent of distortions affecting different sectors of their economies. Regardless of the marked difference, both groups have to deal with the problems of the appropriate...

This paper examines the effectiveness of labor cost reductions as a means to stimulate economic activity and assesses the differences which may occur with the prevailing exchange rate regime. We develop a medium-scale three-region DSGE model and show that the impact of a cut in employers' social...

The Pro-Poor Agenda for Prosperity and Development 2018 to 2023 (PAPD) is the second in the series of 5-year National Development Plans (NDP) anticipated under the Liberia Vision 2030 framework. It follows the Agenda for Transformation 2012-2017 (AfT). It is informed as well by lessons learned...

Aggregate business investment is a major driver of long-term economic growth. It has been weak in many advanced economies over the last decade, partly due to cyclical demand-side effects. Nevertheless, a number of structural factors and policies interact with and have an effect on business...

Die deutsche Wirtschaft steht vor umfangreichen Modernisierungsherausforderungen, die mit neuen Technologien, neuen Geschäftsmodellen und den notwendigen Investitionen bewältigt werden müssen. Während in der Automobilindustrie mit ihrer starken Innovations-und Investitionsperformance bereits...

In this thesis, I study different dimensions of the interaction between economic outcomes and EU economic governance with a specific emphasis on the framework for fiscal policy and fiscal stabilization. Each of the three chapters consists of a self-contained research article followed by the...