How to minimize the EU’s technology gap
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In this issue:
- (Un)Intended Effects of Preferential Tax Regimes: The Case of European Patent Boxes
- Your Vote is (no) Secret! How Low Voter Density Harms Voter Anonymity and Biases Elections in Italy
- Current Account Imbalances and the Euro Area: Alternative Views
- Balanced-Budget Fiscal Stimuli of Investment and Welfare Value
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(Un)Intended Effects of Preferential Tax Regimes: The Case of European Patent Boxes
The development and diffusion of new technologies scores high on the policy agenda of the European Union and its member states, say Marko Köthenbürger, Federica Liberini and Michael Stimmelmayr (ETH Zurich, KOF). The EU seeks to limit the technological gap towards other major economies. This manifests in the rapid growth of the digital economy that has evoked an intensified interest on the part of the EU and its member countries not only to foster technological innovations, but also to compete for innovative, internationally mobile firms.
EconPol Opinion 22 and EconPol Working Paper 29
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Your Vote is (no) Secret! How Low Voter Density Harms Voter Anonymity and Biases Elections in Italy
The density of voters in polling regions limits the secrecy of voting and can affect the outcome of Italian elections, with the same impact on countries with a similar voting mechanism. In the first study to analyze the link between voter density and election bias, authors Mauro Caselli (University of Trento) and Paolo Falco (University of Copenhagen) examined all municipal elections conducted in Italy from 1989 to 2015. They found that lower voter density significantly increases the probability of re-election for an incumbent in a municipal office, while in areas with a higher number of voters the probability of re-election for an incumbent falls.
EconPol Working Paper 26
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Current Account Imbalances and the Euro Area: Alternative Views
The Euro area is caught in a "maze of peculiar regulations" and referring to current account imbalances (CAI) as a catch-all indicator of financial efficiency may lead to seriously misplaced policies, according to Ronny Mazzocchi (European Parliament) and Roberto Tamborini (University of Trento), the authors of this latest EconPol working paper. The paper examines the controversial points about the causes, meaning and consequences of CAI, and discusses the alternative policy prescriptions that emerge.
EconPol Working Paper 27
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Balanced-Budget Fiscal Stimuli of Investment and Welfare Value
Is a fiscal stimulus of investment a viable complement to, or substitute for, monetary policy? Cesare Dosi, Michele Moretto (University of Padova) and Roberto Tamborini (University of Trento) show that, under a balanced-budget stimulus, investment acceleration may come at the expense of decreased total welfare and that where uncertainty is higher about private returns a net efficiency loss is more likely. However, the risk of such negative outcome strongly declines when the government spending is balanced by taxing both private and public returns on investment.
EconPol Working Paper 28
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EconPol Annual Conference
7-8 November 2019
Brussels, Belgium
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EconPol Europe is a cross-border voice for research in Europe, providing research-based contributions aimed at promoting growth, prosperity and social cohesion in Europe and, in particular, the European and Monetary Union. Our mission is to contribute our research findings to help solve the pressing economic and fiscal policy issues facing the European Union, and to anchor more deeply the idea of a united Europe within member states.
Our joint interdisciplinary research covers:
• sustainable growth and best practice,
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• capital markets and the regulation of the financial sector and
• governance and macroeconomic policy in the European Monetary Union.
If you would like further information about EconPol Europe, please contact Juliet Shaw at shaw@econpol.eu
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