News Archive

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The Advantages of the Division of Labour Also Apply to Economic Policy: The Green New Deal

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EconPol Opinion
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Even in times of the corona pandemic, environmental and climate protection are among the dominant topics in the economic policy debate:this is justified, as global warming is one of the greatest challenges of our time. Tackling it requires a transformation of the economy by reducing CO2 emissions and adapting to the climate change that has already occurred or will occur despite all efforts. European policymakers have set out to drive this transformation under the banner of the Green New Deal, its objectives shared by a large majority of the population.

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Crowd of people

The Deserving and the Undeserving: “Heuristics” or “Automatism”?

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Working Paper
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Voter attitudes towards the welfare state, its specific programs, or specific people who are supposed to “benefit” from the implied social transfers have always been of vital interest for discussions in the public and political spheres. In this working paper, Peter Grand and Guido Tiemann (EconPol Europe, IHS Vienna) examine public sentiments concerning the conditionality of unemployment benefits and find that opinion is influenced by the supposed level of 'deservedness', along with economic, social, and institutional context.

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Laboratory testing

Covid-19 Pandemic: Challenges and a Way Forward

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Policy Report
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Sacrificing lives does not save the economy, according to this latest policy report from Panu Poutvaara and Madhinee Valeyatheepillay: countries that fail to suppress the pandemic risk a disastrous overburdening of their health care system and patients who could have been otherwise saved die. Short of an effective vaccine, no single measure is enough to stop the pandemic. Instead, societies need a combination of effective social distancing measures, careful hygiene, use of masks in indoor public spaces and contact tracing.

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European Central Bank

The Sovereign-Bank Nexus: the Role of Debt and Monetary Policy

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Policy Report
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In this policy report, Hernán D. Seoane (EconPol Europe, Universidad Carlos III de Madrid) analyzes one aspect of the sovereign-bank nexus: the feedback effects between banks and sovereigns derived from the holdings of sovereign debt in domestic banks. He examines how this relationship evolved during the European debt crisis and how it responded to the implementation of ECB monetary policy based on Open Market Operations and Marginal Lending Facilities.

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Bank notes

Structural Tax Reforms and Public Spending Efficiency

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Working Paper
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This working paper, from António Afonso, João Tovar Jalles and Ana Venâncio, evaluates the effects of structural tax reforms on government spending efficiency in a sample of OECD economies over the period 2007-2016. Increases in tax rates result in falling public efficiency, with the negative effect found to be more significant for increases in personal income tax and value added tax. In times of economic expansion, increasing the corporate income tax base and reducing personal income tax rates were found to have a positive impact on public sector efficiency.

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