Action Policy Digest – September 2016

Autore :

Data: 12-09-2016

Tipo: Other

Tematica: Action Institute

Organized as a monthly newsletter, it presents an overview of the current international policy debate. You find below a selection of the best ideas from the most influential think tanks, structured in four areas: (i) Finance, (ii) Innovation and Development, (iii) European Affairs and (iv) Social Policy.

A primer on helicopter money” (VOX). Helicopter money is not just another version of unconventional monetary policy. This column explains how helicopter money today is different from what Milton Friedman imagined back in 1969.

European banks under stress (tests): Which remain the most resilient?” (CEPS). The latest round of stress test conducted by the EBA for 51 large banking groups showed huge differences in the degree to which a shock, or so-called adverse scenario, would impact different banks.

The IMF’s performance on financial sector aspects of the euro area crisis” (BRUEGEL). The recently published in-depth evaluation of the International Monetary Fund (IMF)’s role in the euro area crisis highlights important contrasts in the area of financial services. The IMF provided highly valuable analysis and recommendations to the EU on its banking sector and related policies.


Commission updates Horizon 2020 work programmes” (SCIENCEBUSINESS). The European Commission has released an update to the Horizon 2020 work programme for 2017, which includes 50 calls worth €8.5 billion.


Smoothing economic shocks in the Eurozone: The untapped potential of the financial union” (VOX). The EU has taken important steps towards the deeper integration of Eurozone financial markets, but this remains incomplete. This column argues that a fully-fledged financial union can be an efficient economic shock absorber.

A Flexible Europe After the Brexit Vote”” (CARNEGIE EUROPE). The result of the June 23 UK referendum on EU membership has opened a Pandora’s box: membership is no longer forever, European integration is reversible and everything is possible.

How to make the single market more inclusive after Brexit” (BRUEGEL). The creation of the single market generated winners and losers. Yet redistribution remains first and foremost a competence of national governments. It is thus fair to state that a failure in national, more than European, policies and welfare systems can be partly blamed for current discontent with the EU and the single market.

Security of supply in EU defence: friends in need?” (CER). In its drive to establish EU-wide security of supply for the defence market, Brussels faces protectionism, a flawed notion of European strategic autonomy and mistrust among governments.


Increases in the retirement age and labour demand for youth” (VOX). The Eurozone’s sustained rise in youth unemployment since 2008 threatens to create a ‘lost generation’. This column presents evidence that this is, in part, an unintended consequence of pension reforms in southern Europe that locked in older workers.

Economic performance in two dimensions: How Europe beats the US” (VOX). One-dimensional indicators such as GINI per capita are known to be flawed measures of wellbeing. This column argues that an HDI adjusted for inequality and hours worked gives deeper insight into a country’s economic standing.


Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

Herbert Hoover […]


Good health is essential to social and economical development and it empowers all of the public sectors.

World Health Organization […]


Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Peter Drucker […]

Human Capital

Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.

Ludwig Wittgenstein […]