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Action Policy Digest, April 2022

Autore :

Data: 12-04-2022

Tipo: Other

Tematica: Action Institute

 

Hello, Action Policy Digest readers!

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.

 

 

 FINANCE 

Sanctions and the international monetary system“. The freezing of Russian foreign exchange reserves will have long-term and systemic consequences. This column argues, however, that the dominant role of the dollar as a reserve currency will be unaffected. No other country can provide the world with a large, liquid government bond market and a fully open capital account.

 

 “Russia may ditch the Dollar – But It needs the Euro“.Naysayers claim Western financial sanctions will speed Russia and China’s drift away from Western currencies and finance. But the West’s predominance in the global financial system is enduring.
 
INNOVATION AND DEVELOPMENT 

The decoupling of Russia: high-tech goods and components”. Sanctions on high-tech goods supplies, combined with financial sanctions and other restrictions, will deprive Russia of a future as a modern economy.

 

 “Ethical AI development: Evidence from AI startups. Artificial Intelligence startups use training data as direct inputs in product development. These firms must balance numerous trade-offs between ethical issues and data access without substantive guidance from regulators or existing judicial precedence.
 
EUROPEAN AFFAIRS

 “The Next Revision of the Financial Regulation and the EU Budget Galaxy. This study, written on request by the Budget Committee of the European Parliament, analyses the impacts on EU governance and the ability of the European Parliament to fulfil its duties, and considers that reforms are definitely needed to ensure that the EU budget and financial rules reflect the current realities that the EU faces.

 

 Better pensions for the European Union’s self-employed“. What is the current state of pensions policy in Europe and how are independent workers treated compared with their traditionally employed counterparts?

 

 Managing sovereign debts held by the Eurosystem: Operational and legal constraints“. There have been various proposals for how to manage the sovereign debt portfolio accumulated by the Eurosystem in its efforts to raise inflation and provide emergency support in response to the pandemic. This column argues that the euro area needs a new mechanism to free the Eurosystem of the encumbrance of its sovereign portfolio. Such a mechanism cannot be provided by the Eurosystem itself, since this would eventually be inconsistent with its mandate. Instead, the European Stability Mechanism could perform that task while respecting all relevant European law.

 

SOCIAL POLICY
 Job search and mismatch during the Covid-19 pandemic“. The strength of the labour market recovery from Covid-19, and the extent of the economic scarring, depend on both job creation and whether job seekers look for jobs in the growing sectors of the economy. This column uses a novel dataset to provide direct evidence on the types of jobs sought by workers during the pandemic.

Credit

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

Herbert Hoover […]

Health

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

World Health Organization […]

Innovation

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 […]