<abstract><title style='display:none'>Abstract</title>
Putting the high public debt ratios on a downward path after the surge during the pandemic and allocating sufficient resources to deliver on the green and digital transition will be among the priorities confronting the EU institutions emerging from the June 2024 European elections. After a long and painful debate, EU institutions have agreed upon a new fiscal rulebook that aims to incentivise the reallocation of national public spending to the green and digital transition. However, the additional public investment is unlikely to suffice to comply with the goals of net zero that the EU has set for itself. In particular, investments of a transnational nature will remain undersupplied. This article proposes setting up a successor to NextGenerationEU – a new EU fund until 2030 for financing European public goods (EPGs) to address the double transition. Access to the facility would be conditional on adherence to the EU fiscal rules. By tying up the implementation of the new fiscal framework, the debate on the future of NextGenerationEU and the next multiannual EU budget post-2027, the credibility and internal consistency of these various instruments will be greatly enhanced.
</abstract>

Investing in European Public Goods While Maintaining Fiscal Discipline at Home

The Far Right and the 2024 European Elections

Generative Artificial Intelligence – Foundations, Use Cases and Economic Potential

Labor Shortages: What Is the Problem?

The 2023 France Pension Reform

Artificial Intelligence and Cybersecurity

Letter from America: Biden’s International Trade Policy: Déjà Vu, Again

Tomorrow at Work: The Age of Shortages

<abstract>
<title style='display:none'>Abstract</title>
This paper analyses the housing markets of OECD countries using a scoring model. This model is based on a European Systematic Risk Board approach to risk assessment of housing markets but extends this approach in two important ways. First, this paper distinguishes between cyclical and structural risk factors. Markets facing higher susceptibility to cyclical risks necessitate a distinct policy approach to prevent or handle disruptions, as opposed to markets primarily affected by structural risks. Second, it illustrates that scoring models contain subjective aspects, e.g. in the choice of weighting factors. We develop four distinct models to weigh risk factors. We show that these different weighing schemes have a significant impact on the estimated risk scores. For policy decisions, such models can therefore only be an indication of the vulnerability of housing markets to crises. Therefore, several scenarios and models should be calculated in parallel to reduce subjectivity.
</abstract>

Structural and Cyclical Risks in Housing Markets in OECD Countries

<abstract>
<title style='display:none'>Abstract</title>
EU member states observe an elaborate process to preserve macroeconomic stability: the macroeconomic imbalance procedure (MIP). The MIP is supposed to monitor and prevent macroeconomic imbalances – and if necessary, correct them. It considers a variety of variables to determine the existence of imbalances, e.g. the current account balance or unit labour costs. However, the macroeconomic impact of climate change is ignored. In light of the growing economic risks due to climate change, this article argues that the MIP should consider climate-related risks explicitly to maintain relevance.
</abstract>

Climate Change in the EU’s Macroeconomic Imbalance Procedure

<abstract>
<title style='display:none'>Abstract</title>
As of 7 March 2024, the EU Commission began to enforce its controversial Digital Markets Act (DMA). This article sheds light on the recent debate. It lists the dos and don’ts of the DMA as well as stakeholder reactions to them before tracing some of the underlying motivations and reasoning that emerge from the EU’s current policy reversal with reference to dealing with abuse of dominant positions in line with Article 102 of the Treaty on the Functioning of the European Union. Following this, the paper reviews economic aspects of digital platforms, concerns about market foreclosure and essential facility as well as appropriate remedies before closing with a discussion of the challenges in stipulating and enforcing efficient rules to govern digital platforms. It is argued that the DMA ought to be rewritten to stipulate clear and cogent legal standards, return to a strengthened system of ex post control and provide platforms with the opportunity to deliver efficiency defenses as part of corporate self-regulation.
</abstract>

The EU’s Digital Markets Act: Regulatory Reform, Relapse or Reversal?

Notes for Authors

Intereconomics

Review of European Economic Policy

Intereconomics publishes papers dealing with economic and social policy issues in Europe. The journal consists of the following sections: editorial, forum and articles. The editorial...

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Intereconomics publishes papers dealing with economic and social policy issues in Europe. The journal consists of the following sections:...