How to Secure Europe's Competitiveness and Prosperity 

 SEASON'S GREETINGS 
  • Editorial: Season’s Greetings from EconPol Europe 
 EVENTS / VIDEOS         
  • EconPol Europe Annual Conference 2024: Videos Now Available 
 POLICY REPORTS         
  • Building a Stronger Single Market: Potential for Deeper Integration of the Services Sector within the EU 
 POLICY BRIEFS             
  • How to Unleash the Full Potential of Europe’s Financial System

  • Defense Spending for Europe’s Security – How Much Is Enough?

  • Who’s Afraid of Trump in the White House? How German Firms View the US Election

 ECONPOL FORUM        
  • Overregulation in the EU? How to Boost Competitiveness with Smarter Legal Frameworks 

  • Ukrainian Refugees’ Return Intentions and Integration in the Course of Time 

  • Nudging for Tax Compliance 

  • International Collaboration in Digital Knowledge Work: A Production-Side Assessment of Europe’s Digital Single Market  

  • The Slow End of the ICE Age in Germany: Insights from Job Postings on the Automotive Industry’s Trajectory 

 SEASONS'S GREETINGS FROM ECONPOL EUROPE 
Dear Sir, dear Madam, 

A year of turbulence is drawing to a close. With the European elections in June and the US presidential election in November, two elections dominated Europe’s political and economic landscape for the next years. Consequently, in 2024 we focused on how Europe can maintain its competitiveness in the face of changing geoeconomic conditions. 

In our flagship magazine EconPol Forum, our authors discuss issues such as: EU overregulation; global political and economic implications of the US election; Europe’s defense capabilities; policy priorities for the next EU political cycle, the geoeconomic implications of the BRICS enlargement; as well as causes, consequences and policy implications of the rise of populism. In our Policy Briefs and Policy Reports, our experts have assessed the EU’s innovation, defense and climate policies, as well as the geoeconomic impact on supply chains and trade policy: What impact have sanctions had on the Russian economy? What is the potential impact of US tariffs on Europe and China? In addition, our EconPol Expert Opinions provided informed perspectives and commentary from CESifo President Clemens Fuest and other experts on current economic policy issues. 

Meanwhile, we had several inspiring EconPol events in 2024. At the Munich Security Conference, we organized a breakfast debate with several high-level speakers on geoeconomics. Together with the European Roundtable on Climate Change and Sustainable Transition (ERCST), we organized a policy discussion on climate policy priorities for the next European Commission. With our partners from the Institute for European Policymaking at Bocconi University and the Toulouse School of Economics, we hosted an event in Brussels to address the EU’s innovation policy. Finally, our highlight was our Annual Conference in November on how to secure Europe’s competitiveness and prosperity. 

We would like to thank you all for following EconPol Europe. We sincerely hope that you will continue to be active readers of our evidence-based policy papers and benefit from all that EconPol has to offer. We wish you and your loved ones a peaceful holiday season and look forward to a positive year ahead for all.  

Best regards,  
Clemens Fuest  
President, ifo Institute and CESifo
 EVENTS / VIDEOS           

EconPol Europe Annual Conference 2024: Videos Now Available

Our EconPol Annual Conference 2024 has come to a successful close. About 180 guests followed our exciting panels on the future of the EU's single market, EU innovation policy and EU defense policy in Brussels. For those who were unable to join us on site, video recordings as well as a conference summary are now available on our website. Videos include the keynote speech by Kerstin Jorna and the panel discussions with our top line-up of speakers, François Arbault, Marco Buti, Daniel Gros, Angelika Niebler, Jan Pie, and Guntram B. Wolff, among others. 
Visit our conference website 
 POLICY REPORTS          

Building a Stronger Single Market: Potential for Deeper Integration of the Services Sector within the EU

The downfall of Credit Suisse should serve as a lesson that supervisory board competence determines the long-term risk of a bank. In Germany, this idea is also enshrined in law. But this study of German banks shows, there is still a long way to go. 
 POLICY BRIEFS             

How to Unleash the Full Potential of Europe’s Financial System

The idea of a Banking Union emerged in the aftermath of the global financial crisis. Ten years on, two of its three pillars, the Single Supervisory Mechanism and the Single Resolution Mechanism, have proven to be a success with regard to financial integration and stability. In this Policy Brief, experts from the German Federal Bank explain why, in times of structural change, it is crucial to complete the Banking Union and advance the Capital Markets Union. 

Defense Spending for Europe’s Security – How Much Is Enough?

Defense spending above the NATO target of 2 percent of gross domestic product would be necessary for Europe to be able to defend itself without the protective umbrella of the United States. This is the conclusion of the new EconPol Policy Brief. European countries would have to significantly increase their efforts to catch up with an adequate defense capability, as defense budgets and military investments have been too low for years. Europe must compensate for higher real military costs than, for example, in Russia or China. 

Who’s Afraid of Trump in the White House? How German Firms View the US Election

44 percent of German manufacturing companies expect a negative impact on their business if Donald Trump is elected US President instead of Kamala Harris. This was shown by a survey of 2,000 companies. For 51 percent, it makes no difference, while 5 percent expect positive effects from Trump. 
 ECONPOL FORUM        


Policy Debate of the Hour

Overregulation in the EU? How to Boost Competitiveness with Smarter Legal Frameworks

Economic Poilicy and its Impact

Ukrainian Refugees’ Return Intentions and Integration in the Course of Time

Analyses on the return intentions of Ukrainian refugees based on survey data show that most of them still plan to return, but that the proportion of those who want to settle outside their country has risen steadily over time. 

Institutions Across the World

Nudging for Tax Compliance

Institutions Across the World
Governments around the world are increasingly turning to nudges to improve tax collection. Simple reminders, tax morale and disincentives significantly improve tax compliance. 

Big Data-Based Economic Insights

International Collaboration in Digital Knowledge Work: A Production-Side Assessment of Europe’s Digital Single Market

Big Data-Based Economic Insights
Low market integration is a key barrier to European competitiveness in the digital economy. International collaboration of knowledge workers could help realize market size advantage. European digital single market policymaking should address production-side barriers. 

Big Data-Based Economic Insights

The Slow End of the ICE Age in Germany: Insights from Job Postings on the Automotive Industry’s Trajectory

Big Data-Based Economic Insights
Against the backdrop of the current debate about phasing out the internal combustion engine (ICE) in Germany and in order to observe where the industry is heading, job advertisements are analyzed that provide insights into the ongoing strategic shifts in the automotive sector. 
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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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Published: CESifo GmbH
Email: newsletter@econpol.eu
Editor: Eberhard Beck
Director EconPol: Dr. Florian Dorn


The reprint of excerpts from this newsletter is permitted only with written permission and provided that the source is acknowledged.


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