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Research from EconPol Europe into the use of so-called ‘patent boxes’ by multinational enterprises (MNEs) reveals an increase in pre-tax profits of 8.5% for the MNEs. However, there is little evidence to suggest governments which operate the system receive any benefit, and could even experience a reduction in revenues.
Cross-border risk sharing through securitisation markets is a crucial element of financial integration in Europe, according to a new policy brief from EconPol Europe. And while the new EU framework for simple transparent and standardised securitisation, due to be implemented in January 2019, is an important step it does not go far enough, say authors Karolin Kirschenmann, Jesper Riedler (ZEW Mannheim) and Tobias Schuler (ifo Institute).