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Macroeconomic policy frameworks in the EU: in need of renewal

Assessing the Ecofin compromise on fiscal rules reform

The compromise reached by the Ecofin Council is imperfect. But it is still a big step forward.

Bringing the reform of European Union fiscal rules to a successful close

EU fiscal rules must not unnecessarily restrict green investment.

Greening EU fiscal rules

How to achieve debt sustainability and environmental sustainability in the bloc?

Are the emerging EU fiscal rules green enough?

Are the emerging EU fiscal rules green enough?

While there are developments towards a political agreement on EU fiscal rules reform, three concerns remain.

What is behind China's structural deceleration?

Understanding local government debt in China

How can China navigate the country towards a more sustainable and balanced economic future?

To unblock fiscal rule reform, the EU should reinstate its excessive deficit procedure

Reapplying the excessive deficit procedure could create space for European Union countries to decide on longer-term rule change

Europe’s strategic challenge

The EU should pursue ‘gradual and pragmatic federalism,’ underpinned by essential governance reform.

How should the Commission's fiscal framework proposal be improved?

Evaluating the European Commission’s fiscal governance proposal

Focusing on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.

A quantitative evaluation of the European Commission’s fiscal governance proposal

This paper focuses on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.

Making sense of the European Commission’s fiscal governance reform plan

This Policy Brief offers proposals to enhance institutional self-commitment to implementation, with reputational consequences for non-implementation.

The Russian war economy: macroeconomic performance

The Russian economy has performed better than many expected since the war in Ukraine started, though the financial burden will be felt for some time.

China’s GDP data point to need for stimulus, but will it come?

The main reason for the relatively poor second quarter is lackluster domestic demand.