- Save the Date: EconPol Annual Conference 2024: EU Policy Priorities – How to Secure Europe’s Competitiveness and Prosperity
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How to Ensure Defense Capabilities for Europe? Economic and Fiscal Consequences
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Europe’s Middle Technology Trap
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Entrepreneurship in the United States and Germany: Attaining the Promise of Innovation
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How Well-Intentioned Measures Have Unintended Consequences for Election Turnout
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13 November 2024 | Representation of the Free State of Bavaria to the EU
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Entering its 8th edition, this year’s EconPol Annual Conference will revolve around the question on how the incoming EU legislature can safeguard and strengthen European competitiveness and prosperity in the new reality of heightened geopolitical risks and trade tensions. How to balance conflicting priorities such as decarbonizing the economy, strengthening competitiveness, and enhancing security? This calls for innovative policy solutions and ideas.
The conference will focus the discussion on Europe’s economic competitiveness in three high-level panel discussions on “Empowering the EU Single Market – How to Untap Europe’s Full Potential?”, “EU Innovation Policy – Middle Technology Trap or Comparative Advantage?”, and “European Defense Policy: Risk or Accelerator for Economic Competitiveness?”
The event will take place on November 13, 2024 (starting at 11 a.m.) in Brussels. For more details and updates on our program and speakers, please visit our conference website.
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Droughts, hurricanes, rising sea levels – the impact of climate change is most visible in African, Caribbean and Pacific countries. Extreme heat leads to erosion and crop failures, but also to an increase in infant mortality and to children dropping out of school to support the family’s income. Not to mention the rise of violent conflicts over scarce ressources. With the adoption of the Samoa Agreement in 2023, the EU recognizes climate change as a cross-cutting issue that needs to be addressed by all economic, political, and social areas of development cooperation. Andrey Samarskiy and Maria Waldinger identify which mitigation and adaptation measures under the Samoa Agreement are particularly important. Two measures should be given special consideration…
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Focusing on the “Green Deal” will not be the enough to answer to the manifold
crises faced by the new European Commission, according to ifo’s President Clemens Fuest. In his policy brief, he addresses major policy areas that need well-thought economic adaptation strategies. Not only does the union need to ramp up its own defense capabilities, it also needs to carefully reassess economic relations with third countries and establish clear policy intervention criteria to deal with economic supply risks. Introducing subsidies to secure the domestic supply of antibiotics may well be justified, subsidies for solar panels less so. The EU’s climate policy poses another major challenge: Decarbonizing the economy comes at a price …
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In the EU, 32 percent of manufacturing jobs and 36 percent of value-added in manufacturing depend on exports to non-member countries. These figures demonstrate the importance of international trade for European prosperity. At the same time, the suspension of Russian gas supplies to Europe in the wake of the war on Ukraine is a painful reminder of how quickly trade relations can be weaponized. With geopolitical tensions on the rise, the IMF already sees first signs of a geoeconomic fragmentation of the global economy. This policy brief by Andreas Baur presents four basic propositions on the future direction of the EU’s foreign economic policy.
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Policy Debate of the Hour
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Economic Policy and its Impact
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Europe is increasingly falling behind in growing high-tech industries. As is shown, companies in the EU spend far less on R&D than their competitors in the US and China and concentrate their innovation activities on established mid-tech sectors, such as the automotive industry, rather than on high-tech sectors, such as the digital economy, and biotechnology. Mid-tech sectors, however, tend to have lower growth rates and generate incremental innovations rather than large, disruptive ones. This paper proposes reforms of EU innovation policy to avoid Europe being stuck in the “mid-tech trap”.
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Institutions Across the World
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If innovation is needed to tackle economic and political challenges facing society, entrepreneurship is needed to drive innovation. Germany and the US are not only among the most innovative, but also among the most entrepreneurially active countries in the world. Entrepreneurship in Germany and in the US, though, is very different, each facing their own challenges: the strengthening of incremental innovative entrepreneurship in Germany versus the continuous promotion of radical and disruptive entrepreneurship in the US.
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Big Data-Based Economic Insights
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The more people go to vote, the better. To cast a vote, obviously, is the most important decision everyone can take in a democratic election. However, even well-meant minor changes in the voting process could significantly affect this decision – such as assigning citizens to new polling stations, e.g. to avoid congestions or to create more barrier-free voting opportunities. Drawing on data from the Munich electoral office, this study shows that reassigning citizens to vote at a different polling place can have unintended consequences.
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EconPol Europe is CESifo’s economic policy platform. With key support from the ifo Institute, it seeks to leverage CESifo’s globe-spanning network of more than 2 000 high-ranked economists – at least a dozen of whom have won the Nobel Prize – and ifo’s decades-deep research expertise to provide well-founded advice to European policymakers and to facilitate informed decisions. Drawing on the wide range of specializations of its members, EconPol’s mission is to contribute to the crafting of evidence-based, effective economic policy in the face of the rapidly evolving challenges faced by the European economies and their global partners.
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