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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...

As the green transition is set to accelerate swiftly over the next decades, its implications for labour markets and workers are of key concern to policymakers. The aim of this paper is to review different methodologies to identify green jobs in cross-country comparable data that are regularly an...

The Greek economy has experienced low levels of corporate investment for many years. The Loan Facility is a component of Greece’s Recovery and Resilience Plan (RRP), in the context of the EU-wide NextGenerationEU initiative. Worth about EUR 18 billion, it is the largest measure funded by the EU ...

International risk sharing in OECD countries weakens during domestic recessions, when its role is most needed. Instead, no significant changes emerge during boom periods or in relation to the global business cycle. The asymmetry in the risk sharing response to cyclical fluctuations is driven mai...

Rising public investment needs raise the issue of debt sustainability. This paper analyses the implications of public investments for debt dynamics using quantitative model simulations. Without offsetting fiscal adjustments via the primary balance, a temporary increase in public investment impli...

National Productivity Boards (NPBs) aim to foster debate relating to productivity and competitiveness and enhance policy making in these areas. In 2016, the Council of the European Union called on all euro area Member States to set up an NPB with characteristics such as independence and capacity...

After a decade-long period of surpluses, soaring energy prices sent the euro area current account into a deficit in 2022. This occurred against the backdrop of a lingering COVID-19 impact, and in parallel with gradual recovery of the tourism sector. After its strong fall, the euro area current a...

As the number and magnitude of climate-related disasters in the EU are increasing, the impact of these disasters on public finances also depends on the extent to which budgets and budget plans reflect fiscal risks from disasters. At the same time, as many of these disasters can no longer be cons...