How to Deal with the European Energy Crisis?

 POLICY BRIEFS          
  • Intentions to Stay and Employment Prospects of Refugees from Ukraine
  • Geoeconomic Strategy for Trade Relations
  • Europe Must Avoid a Subsidy Race
  • How to Deal with the European Energy Crisis? Core Challenges for the EU
  • The Revenue Effect of a Global Effective Minimum Tax
  • Working from Home Around the World
  • The Social Integration of Syrian Refugees in Germany
 POLICY BRIEFS           

Intentions to Stay and Employment Prospects of Refugees from Ukraine

One-fifth of the refugees settling in Germany after fleeing Ukraine report having found employment. This is according to a new EconPol Policy Brief, which presents a survey of 1,461 Ukrainian refugees. Of those employed, over half say that their work is below the level of their formal qualifications. The majority of respondents wish to stay in Germany for another two years. A good third of them plan to return to Ukraine.

Wanted: Geoeconomic Strategy for Trade Relations

In the new EconPol Opinion, Clemens Fuest discusses the planned investment by the Chinese state-owned group Cosco in HLLA, the operator of the Port of Hamburg, which has triggered a fierce dispute. Critics of the investment argue that the Chinese government would gain unwanted control over the port facilities. Supporters, meanwhile, maintain that it is only a minority stake and that the German government is in a position to impose conditions on port operators, regardless of who the owner is.

Europe Must Avoid a Subsidy Race

The energy crisis is plunging Europe into recession and causing social tensions and distributional conflicts. European governments are eagerly seeking ways to defuse the situation, but they will only succeed if they cooperate closely. The cross-border energy market must remain open, and the European Union should leverage its market power when purchasing gas from third countries. But without coordinated national crisis-management strategies, Europe’s response could become a self-defeating subsidy race, which, according to the EconPol Opinion written by Clemens Fuest, should be avoided.

Policy Debate of the Hour

How to Deal with the European Energy Crisis? Core Challenges for the EU

Economic Policy and its Impact

The Revenue Effect of a Global Effective Minimum Tax

In October 2021, 136 countries and jurisdictions agreed on the introduction of a global effective minimum tax. The plan is to impose a minimum tax rate of 15 percent on the global profits of multinational corporations (MNCs). If an MNC’s effective tax burden in a country is less than 15 percent, additional taxes will be collected until the ratio of tax payments to profits reaches a level of 15 percent. This will affect all MNCs whose global consolidated revenue is at least €750 million.

Institutions Across the World

Working from Home Around the World

The Covid-19 pandemic triggered a sudden, huge uptake in work from home (WFH). Over time, it has become evident that the shift to working from home will endure after the pandemic ends. A new Global Survey of Working Arrangements conducted across 27 countries shows that most workers were positively surprised by their productivity in WFH mode during the pandemic. Employers’ planned WFH levels after the pandemic increased greatly due to the unexpected level of individual productivity. Planned WFH levels also rose with the cumulative stringency of government-mandated lockdowns during the pandemic.

Big Data-Based Economic Insights

The Social Integration of Syrian Refugees in Germany

How successful have efforts been to socially integrate Syrian migrants in Germany? What are the factors influencing social integration? New big data-based research shows that the level of social integration of Syrians in Germany is generally low, measured by the number of their Facebook connections/groups and the amount of content posted by them in German. However, social integration in rural regions is higher than in more urban regions.
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EconPol is CESifo’s economic policy platform. With key support from the ifo Institute, it seeks to leverage CESifo’s globe-spanning network of 1 800 high-ranked economists – eleven of whom have won the Nobel Prize – and ifo’s decades-deep research expertise to provide well-founded advice to European policymakers.
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