PUBLICATIONS | Policy Briefs
2020
06 July 2020
Mattia Guerini, Lionel Nesta, Xavier Ragot, Stefano Schiavo
We simulate the impact of the Covid-19 crisis on corporate solvency using a sample of around one million French nonfinancial companies, assuming they minimize their production costs in the context of a sharp drop in demand.
We find that the lockdown triggers an unprecedented increase in the share of illiquid and insolvent firms, with the former more than doubling relative to a No-Covid scenario (growing from 3.8% to more than 10%) and insolvencies increasing by 80% (from 1.8% to...
18 June 2020
Jérôme Creel, Mario Holzner, Francesco Saraceno, Andrew Watt, Jérôme Wittwe
The Recovery Fund recently proposed by the EU Commission marks a sea-change in European integration. Yet it will not be enough to meet the challenges Europe faces. There has been much public debate about financing, but little about the sort of concrete projects that the EU should be putting public money into.
Here we propose a 10-year, €2tn investment programme focusing on public health, transport infrastructure and energy/decarbonisation.
It consists of two pillars...
08 June 2020
Christophe Blot, Jérôme Creel, Emmanuelle Faure, Paul Hubert
- In a statement announcing the review of its monetary policy strategy, the European Central Bank (ECB) stated that it will, in addition to price stability, also take into account how “other considerations, such as financial stability, employment and environmental sustainability, can be relevant in pursuing the ECB's mandate”...
28 January 2020
Éloi Laurent
On December 11 2019, the European Commission released a communication outlining a blueprint for a “European Green Deal”. To clarify its scope and limits, this Policy brief offers a critical examination of the main concepts that underpin and frame it: carbon neutrality, decoupling, resource efficiency, inclusive growth and just transition...
09 January 2020
Paul Malliet
Dans un contexte où l'humanité doit réduire drastiquement ses émissions de gaz à effet de serre afin de limiter la hausse des températures, la mesure des émissions carbone est devenue un enjeu essentiel du XXIe siècle...