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Action Policy Digest Novembre 2020

Autore :

Data: 09-11-2020

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

For the euro there is no shortcut to becoming a dominant currency . As an international currency, the euro has always been a distant second to the dollar. The idea of a greater international role for the euro has been floated, but without major institutional reform, the euro will not become a dominant currency.

The post-pandemic, socially conscious transformation of American banking in a digital world“. The ongoing pandemic tragedy and social justice movements have already transformed the business landscape in virtually all industries in the U.S. The commercial banking industry has not escaped the accelerating forces of the pandemic, and like other industries, will be reshaped to some extent.

Opening the MiFID II Pandora’s box“. Earlier this year, the Commission started consulting on a series of priority areas as part of its ongoing MIFID II/MiFIR review. This ECMI webinar focused on two issues that are rather technical (and perhaps controversial) but are nonetheless key to the functioning of capital markets.

 

INNOVATION AND DEVELOPMENT

Effectiveness of R&D tax incentives in OECD economies. This column presents the results of a new analysis of firm-level records in 20 OECD countries, which suggests that, overall, R&D tax incentives are effective in boosting business R&D but their effectiveness differs sharply across firms of different sizes and across countries.

New digital partnerships to promote Europe’s push for technology sovereignty. Five public-private research partnerships in digital technologies aim to reduce dependence on foreign products and instil ‘European values’ in areas such as artificial intelligence and robotics.

 

AFFARI EUROPEI

CERSchengen will survive the pandemic – The Single Market may not. The pandemic will not be the end of Schengen. But it threatens to further erode member-states’ trust in each other’s governments, citizens, and their ability to deal with crises, be they health-, migration- or economy-related. Mutual trust is the single most important element of European cohesion. Without it, the single market could unravel.

Reforming the EU fiscal framework: Now is the time . This year’s annual report of the European Fiscal Board provides new evidence that the EU fiscal framework does not deliver the goods. These authors argue that it should be reformed without delay.

Sovereign debt management in the euro area as a common action problem“. This Policy Insight discusses sovereign debt management in the euro area where the Covid-19 crisis has caused a huge increase in such debts.

 

POLITICHE SOCIALI

The Economic growth and income distribution implications of public spending and tax decisions . European Union countries can reduce inequality of opportunity through public spending and tax decisions. Broadly, the most effective approach includes progressive taxes and inheritance taxes, spending on education, health and public infrastructure, and better government effectiveness. Better fiscal rules and institutions also increase resilience against crises.

For most of history, women have been undereducated relative to men. While the gender gap in education has closed – and even reversed – in recent times, sharp differences still exist across levels of education and countries.

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 […]