In July, the European Commission fired the starting gun on the negotiations of the next Multiannual Financial Framework – the EU’s budget. Against a tough geopolitical and economic backdrop, the call to bolster Brussels’ public finances clashes with the reluctance of some member states to spend more centrally. This column outlines a possible way forward […]
The world is adjusting to President Trump’s second ‘first hundred days’ in office. This column introduces a new CEPR eBook in which over 50 experts explore how the new administration’s policies are reshaping the US economy and sending ripples across the global economic order. While the assessment is preliminary, in part due to the great […]
A fundamental problem for sovereigns enacting climate policies is whether they can manage increasing debts as their economies suffer from adverse climate impacts. We develop stochastic debt sustainability analysis integrating a coupled climate-economy model with debt financing scenario optimisation, and stress test sovereign debt for representative countries globally under the Intergovernmental Panel on Climate Change […]
