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Action Policy Digest – July 2017

Autore :

Data: 10-07-2017

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.
FINANCE

“The governance and ownership of significant euro-area banks” (BRUEGEL). This Policy Contribution shows that listed banks with dispersed ownership are the exception rather than the rule among the euro area’s significant banks, especially beyond the very largest banking groups.

“The European banking union at three: A toddler with tantrums” (VOX). The recent resolutions of the Spanish Banco Popular and of two smaller Italian banks can be seen as a first important test for the banking union. This column assesses the progress made over the past three years.

“Implications of the Expanding Use of Cash for Monetary Policy” (CEPS). Financial innovation seems to have had little impact on the oldest medium of transaction, namely cash. Currency is part of the monetary base. Its increase thus leads to an automatic increase in central banks’ balance sheets. Taking account of the increase in cash holdings can lead to a different view of the monetary policy stance over longer periods of time.

“A tangled tale of bank liquidation in Venice” (BRUEGEL). What can we learn about the Italian banking sector from the decision to liquidate Veneto Banca and Banca Popolare di Vicenza? The author sees a tendency for Italy to let politics outweigh economics.

INNOVATION AND DEVELOPMENT

“Unleashing Innovation and Entrepreneurship in Europe” (BROOKINGS). Innovation and entrepreneurship are key pillars of economic growth and well-being. They may also serve as a crucial driver of Europe’s future economic (and possibly political) recovery.

“Re-invent open innovation to apply it to small firms” (SCIENCE BUSINESS). Small companies with limited resources have much to gain from open innovation. But the author says a lack of suitable tools leaves SMEs struggling to organise and manage collaborations. They need support from local networks.

“Cryptoeconomics – the opportunities and challenges of blockchain” (BRUEGEL). In this blog review the authors explain, or at least attempt to, what blockchain is and whether it contains the extraordinary innovation potential that its proponents believe it to have.

“Cyber attacks: An economic policy challenge” (VOX). Cybersecurity is becoming a vital concern for the functioning of a modern economy. This column argues that the threat of cyber attacks should be tackled with economic policies aimed at overcoming the externalities and information.

EUROPEAN AFFAIRS

“How is Juncker’s ‘last-chance Commission’ faring at mid-term?” (CEPS). This contribution analyses two major elements of the Commission’s mandate, the first being the implications of its new way of working, involving a restructured College around ten priority policy fields, for the Commission’s internal dynamics.

“Eurozone or EU budget? Confronting a complex political question” (BRUEGEL). This week’s European Commission reflection paper is the latest document to ponder a distinction between EU and euro-area budgets. But do we need to split the two, and what would each budget be used for?

“How Should the EU React to Britain’s General Election?” (CER). The EU-27 can force Britain’s politicians to acknowledge Brexit’s trade-offs, by offering the British four options from which it must choose.

SOCIAL POLICIES

“Unemployment Insurance in America: A model for Europe?” (CEPS). This paper builds on the debate about a European unemployment benefits scheme (EUBS) goes one step further as it carefully assesses whether the lessons from the US system could actually be implemented in a European context.

“Global earnings inequality: Evidence from a new database” (VOX). Recent studies have analysed trends in global income inequality. Global earnings inequality has fallen over the past half-century, and so has inequality within occupations, with main equalisation in the late 1990s and 2000s.

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 […]