Independent research and policy analysis on fiscal, monetary, and
regulatory issues in Europe
We revisit the euro’s promise of convergence through a new Divergence Monitor tracking business and financial cycle synchronization since the 1980s. Business cycles became more aligned after 1999, but financial cycles stayed volatile and split into persistent core–periphery clusters. As …
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Taxes
Companies & regulation
Public spending
Crisis
Globalization
Finance & banking
Jobs & unemployment
Environment
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For much of the past decade, Europe has been weighed down by prolonged economic stagnation. Growth has slowed, productivity has …
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As the story goes, there are no free rides. The costs of each journey must necessarily be borne by someone. …
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America’s housing market is failing a growing share of households. Prices and rents are at record highs, and homeownership is …
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Introduction The UK Budget papers of November 2025 acknowledge the funding models through which the government plans to increase the …
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For more than two decades, the EU–Mercosur agreement remained out of reach—endlessly negotiated, periodically revived, and repeatedly declared dead. Since …
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Introduction The US is on the move and the geopolitical scenario has moved quickly away from the certainties of the …
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Few economic collapses in modern history have been as dramatic, prolonged, and devastating as Venezuela’s. Once the wealthiest country in …
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