Unblocking the Lifeline of Talent. CEPS Policy Brief No. 306, 6 December 2013

Against the background of looming demographic decline, the departure of the baby-boom generation from European labour markets and growing economic competitiveness from emerging economies, this CEPS Policy Brief, published jointly with the Bertelsmann Stiftung, looks into the potential benefits of increased intra-EU labour mobility. The authors examine the ‘German case’ on EU labour mobility, digging below the surface of the aggregate data. They offer proposals on how to foster a European fair deal on talent, one that would benefit the EU as a whole. The paper concludes with policy recommendations on how to increase the potential benefits of the freedom of movement for both individual EU citizens and for the EU as a whole.

Will the Single Resolution Fund be a ‘baby tiger’ during the transition? CEPS Commentary, 17 December 2015

The short answer to this question is no! According to the authors’ calculations, even during its early years, the Single Resolution Fund (SRF) should be sufficient to deal with almost any crisis scenario imaginable. They caution, however, that its funding will be built up only gradually over the coming decade and there is thus a legitimate concern that the SRF will not be sufficient to deal with a major crisis.

This recovery is different. CEPS Commentary 6 September 2012

The misguided belief that “this time is different” led policy-makers to permit the credit boom of the early 2000s to continue for too long, thus preparing the ground for the biggest financial crisis in living memory. But when it comes to the recovery this around, CEPS Director Daniel Gros argues in this Commentary that the belief that this time should not be different might be equally dangerous.

How to deal with macroeconomic imbalances? CEPS Special Report No. 69, 23 November 2012

Lax financial conditions can foster credit booms. The global credit boom of the last decade led to large capital flows across the world, including large movements of resources from the northern countries of the euro area towards the southern part. Since the start of the crisis and more markedly after 2009, these flows have suddenly stopped, creating severe adjustment pressure. At this point the common monetary policy can only try to mitigate the unavoidable adjustment by maintaining overall financial stability. The challenge is to strike a delicate balance between providing liquidity for solvent institutions while keeping the overall pressure on for a rapid correction of the imbalances.