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poverty Featured World

Forging a sustainable future together: The report of the High-Level Group on the Future of Cohesion Policy

Cohesion Policy is the main instrument of the EU’s commitment to shared prosperity. A new report from the High-Level Group on the Future of Cohesion Policy advocates for a revamped policy to address today’s structural challenges. It stresses the need for a Cohesion Policy that, while keeping its focus on economic, social, and territorial cohesion, […]

World Featured trade

Global supply chain pressures, inflation, and implications for monetary policy

The Covid-19 pandemic led to a significant increase in global supply chain pressures. This column studies the impact of these supply disruptions on euro area core inflation. It shows that global supply chain pressure shocks were the dominant driver of euro area core inflation in 2022, and their impact on inflation is persistent and hump-shaped. […]

News Featured World

Apple’s exclusionary app store scheme: An existential moment for the Digital Markets Act

Article 6(4) of the Digital Markets Act (DMA), which comes into full force in the European Union on 7 March, requires Apple to permit third-party app stores to distribute apps on its iOS devices. This column reviews Apple’s scheme to comply with this requirement and argues that the proposed terms will block entry and innovation […]

Finance Business Featured

Vulnerabilities of the labour market: A new survey-based measure of labour hoarding in the EU

Throughout 2022 and 2023, the EU labour market showed a high degree of resilience in the face of weak growth, which is partly explained by firms hoarding labour in the presence of persistent labour shortages. This column presents a new Labour Hoarding Indicator developed by the European Commission based on its Joint Harmonised EU Programme […]

Economy Featured Finance

Inflation expectations: Making all the information count

Surveys find heterogeneity among individuals’ expectations. This heterogeneity, when explicitly accounted for, modifies standard models of inflation dynamics. This column proposes a novel way of estimating models of inflation that account for the role of heterogeneous beliefs. Heterogenous expectations play a statistically and economically important part in explaining the dynamics of inflation. They contributed to […]

Economy Featured Healthcare

Health insurance expansion reduced height inequality in Europe

The third UN Millennium Development Goal seeks to ensure a healthy life “for all”. Using height inequality as an indicator, this column shows that the introduction of public health insurance schemes over the last 150 years substantially reduced health inequality. However, a variety of outcome measures are needed to monitor health inequality in order to […]

Environment Climate Featured

A proposal to refocus the EU Carbon Border Adjustment Mechanism on preventing carbon leakage

Negotiations over phasing out fossil fuels at the COP28 climate summit highlighted how difficult it is for the international community to coordinate climate policies. This column argues that the EU’s Carbon Border Adjustment Mechanism constitutes an important step forward from current anti-leakage policies, but only if it can prevent evasion and impose no unnecessary economic […]