The Coronavirus Crisis and the EU: Investing for a Viable Future

Vaccines: How to Use Market-Based Incentives to Ramp Up Production
Robots at Work? Pitfalls of Industry Level Data; The Role of Fiscal Policies for External Imbalances: Evidence from the European Union; EEAG Report on the European Economy 2021 - Beyond the Coronavirus Crisis: Investing for a Viable Future; Survey-Based Structural Budget Balances
The published contract between AstraZeneca and the EU shows the EU has no leverage to sue the pharmaceutical company to ramp up vaccine production. Instead, Clemens Fuest and Daniel Gros suggest that the EU should provide economic incentives, such as paying premiums for any additional dose delivered earlier.
In their analysis of data from the International Federation of Robotics (IFR) Karim Bekhtiar, Benjamin Bittschi and Richard Sellner found that robotization has significantly lower productivity effects than previously assumed and may cause falling wages.
This year’s EEAG Report assesses the unprecedented economic and social challenges facing the EU, caused by the coronavirus crisis. The report explores how to prevent the erosion of capital and makes recommendations for potential future investments in childcare, education, environment, firms and the economy as a whole.
Revisiting the relationship between budget deficits and current account deficits for 28 EU countries from 1996 to 2019, António Afonso and José Carlos Coelho find that an increase in budget deficit of 1 percentage point of GDP results in a deterioration of the current account deficit of 0.318 percentage points of GDP.
The budget dispute between Italy and the European Commission in 2018 gave new impetus for the debate about the reliability of output gap estimation methods. Marcell Göttert and Timo Wollmershäuser have reviewed and compared the main properties of the mainstream approaches in this working paper.
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Published: ifo Institute for Economic Research at the University of Munich,
Editor: Juliet Shaw.

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