News Archive

In this working paper, António Afonso (ISEG – Lisbon School of Economics and Management, Universidade de Lisboa; REM – Research in Economics and Mathematics, UECE) and Frederico Silva Leal (ISEG – Lisbon School of Economics and Management, Universidade de Lisboa; Portuguese Economy Ministry) estimate short- and long-run elasticities of private consumption for fiscal instruments. They find that positive tax revenue elasticities indicate that consumers have a Ricardian behaviour, while social benefits appear to have a non-Keynesian effect on private consumption.

The second CEPS-EconPol lunch debate will be held at CEPS in Brussels on Wednesday 2 October. Per Eckefeldt (European Commission, Brussels), Tito Boeri (Bocconi University, Milan), Benjamin Bittschi (IHS, Vienna; EconPol Europe) and Felix Wellschmied (Universidad Carlos III, Madrid; EconPol Europe) will join CEPS’ Head of Economic Policy Cinzia Alcidi to discuss the topic ‘Pension Reform in Europe: Recent Experience and Challenges Ahead’.

Bank loans continue to be the main source of external financing for small and medium-sized enterprises (SMEs), in both the Netherlands and other European countries. Businesses are using those loans for expansion, innovation or as working capital.  But Dutch SMEs are applying for fewer bank loans, and those applications are often rejected by the banks. How does SME bank financing in the Netherlands relate to other European countries, and what are the reasons for the differences?

A sharp downturn in industrial production in the German car industry in the third quarter 2018 had an immediate impact on its main trading partners and is causing global and sectoral losses. The drop is raising questions about broader economic consequences, say EconPol researchers, who expect German car industry to stay in recession for the near future.

Press release (English): https://www.econpol.eu/press_releases/2019-09-05

China’s success with state capitalism poses security concerns and huge economic challenges for western market economies. Its economy has boomed over the past 20 years, with private industry contributing much to recent success. And while private industry has helped the rise of China, it’s only one part of the economy. State enterprises and state-controlled firms play a dominant role; the former accounts for 35% of China’s GDP.