This paper measures the efficiency of public spending in the education and health sectors using Stochastic Frontier Analysis (SFA) and Data Envelopment Analysis (DEA). It covers all EU Member States from 2000 to 2022. The model uses panel data and accounts for country-specific factors such as sc...
This paper surveys tools to analyse the macroeconomic impact of structural reforms, with a focus on two general approaches: (i) econometric estimates, linking indicators of policy change to macroeconomic outcomes, and (ii) structural macroeconomic models simulating the effect of reforms on econo...
The EU corporate sector has been subject to severe shocks in recent years, i.e., the administrative restrictions on activity in the context of the COVID-19 pandemic, the supply bottlenecks in its aftermath, and more recently the spike in energy prices in the context of the full-scale invasion of...
The EU agreed to phase out fossil fuel subsidies (FFS). Nevertheless, FFS strongly increased in 2022 to address the effects of the energy price spikes reached during the energy crisis. Phasing out FFS is therefore also a critical element analysed as part of the European Semester. This paper prov...
Leveraging insights from the academic literature, this paper discusses the challenges and practical solutions in the planning of public investment projects and illustrates them with survey evidence from the EU Member States. The paper starts with strategic planning, which covers a 10-to-20-year ...
Tax expenditures are tax relief measures targeted at some socially desirable activities or specific groups of taxpayers. This paper reviews issues related to tax expenditures in the EU and presents some stylised facts related to tax expenditures in personal income taxation (PIT), value-added tax...
For too long, space has been dismissed as a science endeavour at best, and a delusionary science fiction fantasy at worst. In this paper, we make three fundamental points. First, with strong commercial activity taking place in Low Earth Orbit since the late 1980s, space already today is a market...
Social acceptance is growing about the need for moving from a linear to a more circular use of resources. This allows for lowering raw material consumption and waste generation, while reducing the EU resource and energy dependence from abroad, which has become economically and geo-strategically ...
This discussion paper presents the key features of Artificial Intelligence (AI), highlighting the main differences with respect to previous IT and digital technologies. It presents the most relevant facts about AI diffusion across EU countries, and discusses the main economic implications, focus...
This paper uncovers patterns of TFP growth in the EU compared with the US using the latest vintage of the EU-KLEMS database which accounts better for intangible capital in production. Both in the EU and the US the growth contribution of TFP has been declining over the past two decades, while tha...
