News Archive

Illustration for EconPol Policy Brief 17

Macroprudential Measures and Taxation in the Housing Markets

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Policy Brief
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The recent financial crisis and subsequent global recession have been followed by a wave of macroprudential measures in the housing market. At the same time, governments have a long tradition of conducting tax policies which encourage households to acquire owner-housing. These tax advantages may be at least partly responsible for the need to regulate borrowing. In terms of policy, the goal should be to identify instruments that reduce the negative effects of household leverage while minimizing the welfare costs to households. This EconPol policy brief examines the joint effects of the tax system and credit regulation.
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Illustration for EconPol Policy Report 14

The Surprising Sluggishness of French Exports: Reviewing Competitiveness and its Determinants

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Policy Report
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The large deterioration in France’s current account balance during the euro’s first decade was mainly due to its poor export performances. Although there have been no more market share losses since 2012, French export growth lags behind that of our European partners. This EconPol policy report examines the continuing sluggishness of France’s trade performances over recent years, marked in particular by its surprising inability to make any significant and lasting reduction in the trade deficit or regain back lost market shares.
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Illustration for EconPol Working Paper 24

Immigration and electoral support for the far-left and the far-right

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Working Paper
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Immigration increases support for far-right political candidates and reduces support for far-left candidates, with areas with low-educated non-European immigrants providing the biggest boost to the far-right. These are the conclusions of a paper released by EconPol Europe. In the paper, forthcoming in the June issue of the European Economic Review, researchers examined to what extent changes in immigration and trade patterns explain voting for far-left and far-right candidates in French presidential elections from 1988 until 2017. They control for the effects of changes in unemployment, education, and demographics.
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Illustration for EconPol Policy Report 13

How to revive productivity growth?

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Policy Report
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Providing financial incentives for companies to invest in productivity-enhancing technologies and practices is the key to productivity growth, according to this latest policy report by Cecilia Jona-Lasinio (ISTAT and LUISS Guido Carli), Stefano Schiavo (University of Trento) and Klaus Weyerstrass (Institut für Höhere Studien). Strong investment should also be made into training and workforce skills to exploit the productivity potential of new business models in the digital economy. Competition policy, although not directly related to productivity, is also emerging as an important tool to shape incentives and foster the efficient allocation of resources both across and within sectors and firms. The report analyses the recent trends in labour and total factor productivity in the EU and beyond and identifies factors that influence productivity.
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Illustration for EconPol Policy Report 12

Towards more feasible sovereign debt restructurings in the euro area

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Policy Report
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Over the last year, exchanges that were initiated by the ZEW’s SEEK-conference on ‘regulating sovereign debt restructuring in the eurozone’ resulted in vivid discussions on more feasible sovereign debt restructurings in the euro area. This policy report, edited by Frederik Eidam and Friedrich Heinemann, summarizes these discussions by collecting several contributions on different aspects of the topic. Founded in different perspectives, contributors sometimes provide different conclusions, or highlight different choice options and their underlying trade-offs. However, common to all authors is the aim to increase the resilience of the European Monetary Union and to contribute on the debate on the European reform agenda.
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