Anniversary Conference of Intereconomics/Wirtschaftsdienst

New Growth for Europe

flyer conference new growth for Europe

Flyer (PDF)

Berlin · 10 October 2016 · 09:30 am - 08:00 pm

The joint Intereconomics/Wirtschaftsdienst anniversary conference will seek to identify new sources for economic growth in Europe. What investments can be made now to foster future growth? What is the appropriate role for the state? Have the measures taken to combat the economic crisis opened new opportunities for European growth, or will they merely lead to further stagnation? How can Europe best exploit its economic potential? Join us as Tito Boeri, Karl Whelan, Daniel Gros, Clemens Fuest, László Andor, Erik Berglöf and many other prominent European economists discuss these important issues.

Details and registration

Figure of the Month

A key for the distribution of refugees in the EU

This figure from Holtemöller et al.'s article “On the Distribution of Refugees in the EU” shows how the optimum amount of refugee intake can change for each country when various weighting factors are taken into account.

Letter from America

What May Not Happen in UKexit

New UK Prime Minister May’s dictum that "Brexit means Brexit" is meaningless, because Britain is not a state, let alone a member state of the EU. Brendan O'Leary argues that the term "Brexit" does verbal violence to the double union of the UK, and that one of May's problems is that she cannot exit one union, the European, without damaging the two other unions that make up the UK. One creative compromise: England and Wales could leave the EU, while Scotland and Northern Ireland remain within both the EU and the UK.

Future of the EU

The Political Economy of Brexit

The UK exit from the EU represents a qualitative change in the nature of EU membership. Annette Bongardt and Francisco Torres recommend that countries with preferences that are too divergent for the Union to function properly should not be discouraged from invoking Article 50. With the eurozone having established itself as the de facto core of European (political) integration, the UK's preference for a stand-alone (and incomplete) economic union became untenable.

Forum

Europe's Path Towards the Socio-Ecological Transition

Beset by an unprecedented combination of challenges including globalisation, demographic shifts, high unemployment and climate change, Europe is in dire need of a new kind of growth and development strategy. The authors of this issue's Forum make compelling arguments for a socio-ecological transition. This will require the decoupling of non-renewable energy use from GDP growth, the reduction of income and wealth inequalities, and the encouragement of innovation that is not based on fossil fuel technology. Despite these challenges, the Forum presents an optimistic path forward for the continent and offers practical policy solutions.

Quote of the Month

The Political Economy of Brexit

“...it is also true that member states can only hope to influence and shape globalisation if they work together. A sufficient convergence of preferences among member states is a precondition for more effective governance.”

from Annette Bongardt's and Francisco Torres's "The Political Economy of Brexit: Why Making It Easier to Leave the Club Could Improve the EU"

Forum

A New Strategy for Europe

The research project WWWforEurope has developed a comprehensive strategy to set Europe on a path to a socio-ecological transition. As part of this issue's Forum, Karl Aiginger and Margit Schratzenstaller describe how the strategy begins by renouncing the use of GDP growth figures as the benchmark for economic and societal progress. In contrast, it sets “well-being in a sustainable environment” as the optimal benchmark for economic performance and social progress.

Editor's Choice

The Impact of the Financial Crisis on the Real Economy

The cost of the financial crisis to the real economy has so far remained underexamined, probably because of the difficulty in making such an assessment. The crisis was precipitated by an unsustainable bubble that artificially inflated economic figures, so what should be used as a benchmark for measuring the effects of the crisis on the real economy? How reliable are current estimates of the output gap? Could overestimating this indicator lead to underestimating the current risk of inflation? Finally, what effect will the crisis have on the declining long-term productivity gains in Europe and the USA, and what does this mean for potential output?