Fellowship Initiative 2020-2021 “Capital Accumulation, Total Factor Productivity, and Employment Growth: Medium-Term Relations in a Cross-Section Analysis” (06/05/2022)
This paper analyses the impact of information and communications technologies (ICT) capital accumulation and total factor productivity (TFP) growth on employment growth pre- and post-crisis years.
DG ECFIN's Fellowship Initiative 2020-2021 “Shifting paradigms: The quest for new modes of sustainable growth and convergence” sought contributions exploring underlying and emerging trends in the quest for new growth models that respect the limitations of natural resources while ensuring job creation and lasting prosperity in Europe. Achieving a successful transition to become the world’s first climate-neutral, resource efficient continent, fit for the digital age, while ensuring social fairness requires identifying evolving trends and challenges to success stemming from ageing and inherent to both environmentally sustainable development and the transition to a digital society. The fellowships were awarded to prominent scholars in the field to interact with staff in ECFIN and other Commission colleagues, and to prepare final reports on specific research questions brought by these shifting paradigms.
Quarterly Report on the Euro Area (QREA), Vol. 21, No. 1 (2022) (05/05/2022)
Focussing on the euro area, QREA Volume 21 No. 1 (2022) provides an analysis of the impact of the COVID-19 pandemic on inflation and potential output and output gaps; the market performance of EU bonds since October 2020 and the exorbitant privilege associated with a strong international currency status and as well as a brief overview of major policy developments at the euro area level in recent months.
The Fiscal Sustainability Report 2021 provides an overview of fiscal sustainability challenges faced by EU Member States over the short, medium and long term.
European Business Cycle Indicators – 1st Quarter 2022 - Consumer Confidence in Turbulent Times – The Case of the Candidate Countries (20/04/2022)
The special topic focuses on consumer survey results in the candidate countries in the turbulent period from the outbreak of the COVID-19 pandemic to the start of the Russian invasion of Ukraine. Consumer confidence in Albania, Montenegro and North Macedonia evolved broadly in line with the EU aggregate, the only major deviation being the incomplete recovery of confidence in North Macedonia from the COVID-19 shock. By contrast, consumer confidence in Turkey and Serbia appears to have been dominated by country specific forces, resulting in subdued reactions to both the adverse shock of the pandemic and the Russian invasion of Ukraine.
Making Sense of Consumer Inflation Expectations: The Role of Uncertainty (18/02/2022)
This paper introduces the (un)certainty channel as means to shed light on some of the more puzzling aspects of reported quantitative inflation perceptions and expectations.
Quarterly Report on the Euro Area (QREA), Vol. 20, No. 4 (2021) (28/01/2022)
Focussing on the euro area, QREA Volume 20 No. 4 (2021) provides an analysis of i) the protection of household’s income by existing and newly implemented tax-benefit instruments during the COVID-19 pandemic, ii) the pandemic’s impact on gross fixed capital formation, iii) how reforms of recurrent taxes on residential property can be an important element of a tax mix promoting inclusive sustainable growth, iv) the responsiveness of sovereign interest rate spreads of euro area Member States (vis-à-vis Germany) to fundamental factors, as well as a brief overview of major policy developments at the euro area level in recent months.
