# podcast

The macroeconomic policy response to the COVID-19 crisis

From the European Stability Mechanism (ESM) to “coronabonds”, the EU seems to be struggling to find an appropriate mechanism to tackle the economic crisis created by the COVID-19 pandemic. What is really the ...

1st April 2020 by Guntram Wolff 1032 views

# Publications

How has the macroeconomic imbalances procedure worked in practice to improve the resilience of the euro area?

This paper shows how the Macroeconomic Imbalances Procedure (MIP) could be streamlined and its underlying conceptual framework clarified. Implementation of the country-specific recommendations is low; their internal cons...

24th March 2020 by Guntram Wolff 1549 views

# Publications

An effective economic response to the Coronavirus in Europe

The COVID-19 pandemic represents a major shock to the global and European economy. Most European countries need to take bold quarantine and lock-down measures, as has been done in Italy, to prevent an explosion of the ep...

12th March 2020 by Guntram Wolff 1197 views

# Blog, Interviews

Why Europe needs a change of mind-set to fend off the risks of recession

Versions of this opinion piece are appearing in Handelsblatt, Le Monde, El Pais, Kathimerini, Rzeczpospolita, Helsinki Sanomat, Caixin, Nikkei Veritas and others. Recession! This is the new worry in Europe and the...

2nd September 2019 by Guntram Wolff 6857 views

# Interviews

The ECB actions will be enough, but what matters now is the common fiscal policy

My interview in La Stampa is here...

19th August 2019 by Guntram Wolff 1273 views

# Interviews

interviews on Italian economic situation

Two recent interviews on Italy. La Stampa: “Bassa crescita, debito eccessivo e tassi alti: il Paese faccia più riforme” Corriere:...

24th June 2019 by Guntram Wolff 1367 views

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# Blog

Germany’s even larger than expected fiscal surpluses: Is there a link with the constitutional debt brake?

Germany is having a political debate on the adjustment of its budgetary plans due to revised forecasts, and an academic debate on the debt brake. Yet, since 2011, general government revenues and surpluses have been syste...

13th May 2019 by Guntram Wolff 8986 views

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# Publications

What drives national implementation of EU policy recommendations?

We use a newly-compiled dataset to investigate whether and why European Union countries implement the economic policy recommendations they receive from the EU. We find that implementation rates are modest and have worsen...

25th April 2019 by Guntram Wolff 1924 views

# Blog

Providing funding in resolution: Unfinished business even after Eurogroup agreement on EMU reform

The recent Eurogroup agreement on euro-area reform foresees a greater role for the European Stability Mechanism (ESM) as a backstop to the banking union. This is a welcome step forward but important issues remain. We ass...

11th December 2018 by Guntram Wolff 3269 views

# podcast

The Italian government budget proposal for 2019

Guntram Wolff welcomes Bruegel affiliate fellow Silvia Merler to evaluate the Italian government’s planned budget for 2019, in this Director’s Cut of ‘The Sound of Economics’ Six months after its election, Italy’s coalit...

28th September 2018 by Guntram Wolff 1966 views