TY - RPRT A1 - Enderlein, Henrik A1 - Bofinger, Peter A1 - Piris, Jean-Claude A1 - de Grauwe, Paul A1 - Rodrigues, Maria Joao A1 - Pisani-Ferry, Jean A1 - Sapir, Andrés A1 - Vitorino, Antonio T1 - Completing the Euro : A roadmap towards fiscal union in Europe ; Report of the “Tommaso Padoa-Schioppa Group Y1 - 2012 UR - http://enderlein.eu/TPS_GROUP_REPORT.pdf N1 - Free online Access / Freier online Zugriff: http://enderlein.eu/TPS_GROUP_REPORT.pdf PB - Notre Europe CY - Paris ER - TY - RPRT A1 - Pisani-Ferry, Jean T1 - Quelle France dans dix ans? Les chantiers de la décennie? Rapport au Président de la République T2 - France Stratégie Y1 - 2014 VL - 2014 IS - Juin CY - Paris ER - TY - CHAP A1 - Pisani-Ferry, Jean ED - Dawson, Mark ED - Enderlein, Henrik ED - Jörges, Christian T1 - Rebalancing the governance of the euro area T2 - Beyond the crisis Y1 - 2015 SP - 62 EP - 84 PB - Oxford University Press CY - Oxford ER - TY - CHAP A1 - Pisani-Ferry, Jean T1 - Central bank advocacy of structural reform: why and how? T2 - Inflation and Unemployment in Europe, proceedings of the ECB Forum on Central Banking Y1 - 2015 N1 - http://www.ecb.europa.eu/pub/pdf/other/ecbforumoncentralbanking2015en.pdf SP - 185 EP - 192 PB - European Central Bank CY - Frankfurt ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - Impôt et cotisation: quel financement pour la protection sociale? JF - Actes du colloque 2014 du Conseil d'État Y1 - 2014 N1 - http://www.strategie.gouv.fr/sites/strategie.gouv.fr/files/atoms/files/intervention-cloture-2014-06-27.pdf CY - Paris ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - L'action collective face au changement climatique JF - Esprit Y1 - 2015 VL - 12 SP - 56 EP - 76 PB - Edition Esprit CY - Paris ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - Quelles politiques structurelles pour l'Europe? JF - Problèmes économiques Y1 - 2014 N1 - http://mailing.fpul-lyon.org/jeco/pb_eco_jeco2014.pdf VL - 2014 IS - Numéro spécial SP - 9 EP - 13 ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - La nouvelle question productive JF - Le Débat Y1 - 2014 VL - 4 IS - 181 SP - 132 EP - 138 ER - TY - RPRT A1 - Enderlein, Henrik A1 - Pisani-Ferry, Jean T1 - "Reforms and Investment and Growth: An Agenda for France, Germany and Europe". Report to the French Minister for the Economy, Industry and Digital Affairs and to the German Federal Minister for Economic Affairs and Energy. Y1 - 2014 ER - TY - BOOK A1 - Pisani-Ferry, Jean T1 - El Despertar de los Demonios : La crisis del euro y cómo salir de ella T2 - Le réveil des démons : La crise de l'euro et comment nous en sortir Y1 - 2012 SN - 978-84-95348-84-5 PB - Antoni Bosch CY - Barcelona ER - TY - RPRT A1 - Pisani-Ferry, Jean A1 - Lenglart, Fabrice A1 - Brun-Schammé, Amandine A1 - Desplatz, Rozenn A1 - Naboulet, Antoine ED - France Stratégie, T1 - Rapport 2016 du comité de suivi du Crédit d'impôt pour la compétitivité et l'emploi Y1 - 2016 UR - http://www.strategie.gouv.fr/sites/strategie.gouv.fr/files/atoms/files/rapport_cice2016_28095016_ok.pdf ER - TY - RPRT A1 - Pisani-Ferry, Jean A1 - Naboulet, Antoine A1 - Bernard, Claire ED - France Stratégie, T1 - Rapport 2014 du Comité de suivi du CICE Y1 - 2014 ER - TY - BOOK A1 - Pisani-Ferry, Jean A1 - Bénassy-Quéré, Agnès A1 - Coeuré, Benoît A1 - Jacquet, Pierre T1 - Politique économique Y1 - 2012 SN - 978-2804170905 PB - De Boeck CY - Bruxelles ET - 3. ed. ER - TY - BOOK A1 - Pisani-Ferry, Jean A1 - Bénassy-Quéré, Agnès A1 - Coeuré, Benoît A1 - Jacquet, Pierre T1 - Politica economica T2 - Politique économique Y1 - 2014 SN - 978-88-15-25208-1 PB - Il Mulino CY - Bologna ER - TY - BOOK A1 - Pisani-Ferry, Jean T1 - Le Réveil des Démons: la crise de l’euro et comment nous en sortir N2 - On croyait les démons assagis : à la faveur de la crise financière de 2008, les Etats avaient repris le dessus sur les marchés financiers et les politiques économiques savaient répondre et conjurer la dépression. Mais la tempête qui a ébranlé la zone euro entre 2009 et 2012, au départ crise banale dans une petite économie périphérique, la Grèce, a gagné un pays après l’autre et a menacé d’emporter tout l’édifice monétaire européen. Dans ce brillant essai, Jean Pisani-Ferry retrace les étapes de la crise et analyse les solutions adoptées. Si l’Europe a fait preuve d’un remarquable sens de la survie, elle souffre aujourd’hui d’une dangereuse absence de communauté de projets. Y1 - 2013 SN - 978-2818503126 PB - Pluriel CY - Paris ET - Nouvelle éd., revue et augmentée ER - TY - CHAP A1 - Pisani-Ferry, Jean T1 - Is Global Governance passé? T2 - The Governance Report 2018 Y1 - 2018 N1 - ISBN 9780198821496 SP - 87 EP - 104 PB - Oxford University Press CY - Oxford ER - TY - BOOK A1 - Pisani-Ferry, Jean A1 - Bénassy-Quéré, Agnès A1 - Coeuré, Benoît A1 - Jacquet, Pierre T1 - Economic Policy BT - Theory and Practice N2 - Written by four recognized experts with senior experience in research and government, this text is the first comprehensive survival kit for students and practitioners of economic policy. It is set to become an indispensable resource for everyone involved or interested in modern economic policy. Academic scholars willing to engage in policy discussions and students at graduate or advanced undergraduate levels will find it an essential bridge to the policy world. What makes the book unique is that it combines like no other, facts-based analysis, state-of-the art theories and models, and insights from first-hand policy experience at national and international levels. The book has grown out of ten years of experience teaching economic policy at the graduate level. It provides an intellectually coherent framework to understand the potentialities and limits of economic policy. It addresses positive dimensions (how do policies impact on modern economies?), normative dimensions (what should policymakers aim to achieve and against what should their action be judged?) and political-economy constraints (which are the limits and obstacles to public intervention?). It fills an important gap by reconciling in each major policy area stylized facts of recent economic history, key questions faced by contemporary policymakers, and essential lessons from theory which are captured and explained in a clear, concise, and self-contained way. All major areas of domestic and international policymaking are covered: fiscal policy, monetary policy, international finance and exchange-rate policy, tax policy, and long-term growth policies. The book concludes with a special chapter on the lessons of the financial crisis. The authors are intellectually non-partisan and they draw examples from various countries and experiences; from emerging markets to developing economies, shedding light when necessary on local specificities such as European Union rules and instruments. Economic Policy: Theory and Practice is the essential guide to economic policy in the new post-crisis context. Y1 - 2010 N1 - ISBN 9780195322736 Please note: Economic Policy, with Agnès Bénassy-Quéré, Benoît Coeuré et Pierre Jacquet, 2010. New revised and expanded edition, forthcoming Oxford University Press 2018. Chinese edition, 2015. Greek edition, in preparation. PB - Oxford University Press CY - Oxford ER - TY - BOOK A1 - Pisani-Ferry, Jean A1 - Bénassy-Quéré, Agnès A1 - Coeuré, Benoît A1 - Jacquet, Pierre T1 - Politique économique N2 - Les crises ont profondément transformé la politique économique. La tempête financière de 2008, la Grande Récession qui a suivi, les déboires de la zone euro, le niveau très faible de l inflation, le ralentissement de la croissance, la hausse des dettes publiques et l augmentation des inégalités ont ébranlé les certitudes passées et appellent de nouvelles réponses. Parce qu il réunit, dans un seul volume, les principaux enseignements théoriques et l analyse des débats actuels, "Politique économique" s est imposé depuis plus de dix ans comme la référence pour comprendre les politiques économiques d'aujourdhui. Cette quatrième édition a été entièrement refondue pour prendre en compte les derniers développements et débats sur la politique économique. Elle propose notamment un nouveau chapitre consacré à l instabilité financière et aux politiques susceptibles d y répondre. Y1 - 2017 N1 - ISBN 978-2807301627 PB - De Boeck Supérieur CY - Louvain-la-Neuve ET - 4e édition ER - TY - GEN A1 - Pisani-Ferry, Jean A1 - Posen, Adam A1 - Saccomanni, Fabrizio T1 - An Ocean Apart? Comparing Transatlantic Responses to the Financial Crisis N2 - Has the EU-US relationship become a sideshow or is it still central to the global economy? Conflicting signals have been sent out since the outbreak of the global crisis. The creation of the G20 and its designation as ‘the premier forum for international cooperation’ suggest that attention and priorities have moved away from the traditional G7 focus on the transatlantic economy. But most of the key policy debates of the last two years have retained a characteristically transatlantic flavour. This applies to the controversy about the pace of consolidation which resulted in an open US-German rift at the Toronto summit in June 2010; to the discussion on the new bank capital ratios which again was essentially a Euro-American affair; and to the broader conversation on the priorities of financial regulatory reform, for which the big action agendas have been the US Dodd-Frank Act and the European endorsement of a blueprint for coordinated supervision and a single European macroprudential body. True, other issues – the global rebalanc-ing, or the creation of global financial safety nets – have had a distinctive G20 scope. But at least a fair share of the international debate has been transatlantic. There are reasons for this state of affairs. To start with, what is known as the global crisis has been first and foremost a transatlantic crisis. As discussed in several contributions in this volume, the wake of the crisis financial integration through portfolio diversification essentially remained an EU-US phenomenon. Accordingly the subsequent financial turmoil primarily affected the European and American financial systems, and other economies indirectly only, through trade or capital outflows. It is therefore natural to see the same two regions take the lead in setting the agenda for financial reform. Second, the problems they are facing in the aftermath of the shock – the travails of deleveraging, unemployment, the need for unconventional policy responses, the lowering of the growth potential, the rise of public debt, political pressures for protection – are largely common. Third, while they are not the main contributors to world growth, the EU and the US still constitute the bulk of the global economy, and what happens to them matters considerably for all. The US and the EU however are not responding to the same shock in the same way and this is what makes the comparison interesting. It is telling that the sovereign debt crises developed in Europe in the first half of 2010 and triggered a move towards consolidation while the US fiscal situation is by most standards worse than the aggregate European situation. It is telling also that the priorities of financial reform have not been the same. Clearly neither the policy space nor the policy traditions are identical and this portends significant divergence across the Atlantic. How far this divergence will go and whether policymakers on the two continents will disagree or agree to disagree is one of the key questions for the future of the global economy in the years to come. All this justifies a revival of the transatlantic economic conversation. The joint Banca d’Italia-Bruegel-Peterson Institute conference, held in Rome on 10-11 September 2009 with the support of the European Commission, aimed to contribute to the conversation through research and policy discussions. We hope that the papers collected in this volume will help foster a fact-based, analytically sound discussion. Y1 - 2011 UR - http://bruegel.org/wp-content/uploads/imported/publications/110310_An_ocean_apart.pdf SN - 978-9-078910-19-0 PB - Bruegel CY - Brüssel ER - TY - GEN A1 - Pisani-Ferry, Jean A1 - Jaillet, Pierre T1 - L'euro en 2019 T2 - Revue d’Economie Financière. L'euro en 2019 N2 - Dans ce numéro, la Revue propose de réfléchir au futur de la monnaie unique. De grands décideurs et des experts renommés ont été invités à répondre à la question suivante : « Quelles sont selon vous les évolutions les plus susceptibles d'influencer et, le cas échéant, de transformer la zone euro et son fonctionnement dans les dix années à venir ? ». L'ensemble des contributions est donc orienté vers l'avenir plutôt que vers l'évaluation des résultats du passé. L'euro est considéré comme un succès, mais le bilan de l'UEM est plus controversé. Les auteurs nous livrent une réflexion sans complaisance qui met en valeur les défis de la prochaine décennie : - si l'euro a bravement traversé la tempête de la crise financière et économique, des réparations et des aménagements s'imposent ; - les outils de gestion macroéconomique de la zone euro doivent être plus efficaces ; - il faut achever la construction du marché unique ; - la stratégie d'élargissement doit être clarifiée ; - le rôle international de l'euro va devoir être discuté dans un contexte marqué par les déséquilibres globaux et la contestation de la domination du dollar ; - les Européens devront choisir de renforcer leurs institutions politiques s'ils tiennent à l'engrenage entre union monétaire et union politique. Les différents enjeux sont clairement exprimés par les auteurs et il en résulte que si les dix premières années ont parfois été mouvementées, les dix prochaines ne le seront sans doute pas moins. Y1 - 2010 UR - https://www.persee.fr/doc/ecofi_0987-3368_2010_num_96_1_5367 SP - 9 EP - 18 PB - Association d'économie financière CY - Arcueil, France ET - 96 ER - TY - GEN A1 - Pisani-Ferry, Jean A1 - Posen, Adam S. T1 - The Euro at Ten: The Next Global Currency? N2 - Over the first ten years of its existence, the euro has proved to be more than a powerful symbol of collective identity. It has provided price stability to previously inflation-prone countries; it has offered a shelter against currency crises; and it has by and large been conducive to budgetary discipline. The eurozone has attracted five new members in addition to the initial eleven, and many countries in Europe wish to adopt it. The euro has also been successful internationally. Even though research presented in this volume confirms that it has not rivaled the dollar’s world currency status, it has certainly become a strong regional currency in Europe and the Mediterranean region. Some countries in the region have de facto adopted it, several peg to it, and many have become at least partially euroized. However, the euro’s impressive first decade is likely to be followed by a much more difficult period. The present financial crisis is posing at least two important challenges: real economic adjustment within the euro area and maintenance of fiscal and financial stability without a central government authority capable of taking appropriate financial and fiscal decisions in difficult times. The papers and remarks in this volume demonstrate that the euro has proved to be attractive as a fair weather currency for countries and investors well beyond its borders. But it remains to be seen whether it is equipped to also succeed as a stormy weather currency. Y1 - 2009 UR - http://bruegel.org/wp-content/uploads/imported/publications/Euro_at_Ten_June_4.pdf SN - 978-0-88132-430-3 PB - PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS CY - Washington, Brussels ER - TY - BOOK A1 - Pisani-Ferry, Jean T1 - L'Europe déclassée ? N2 - La thèse du déclassement économique de l'Europe face à une Amérique vigoureuse et une Asie ascendante est incontestablement devenue l'opinion dominante du débat sur l'Europe. Elle trouve un écho particulier en France où l'industrie intellectuelle du déclin rejoint subtilement un euroscepticisme de bon aloi. L'Europe, déjà pas souhaitable en soi, n'est de surcroît pas nécessaire puisqu'elle ne garantit pas une marche vers le progrès. À cela, les partisans du fédéralisme économique opposent l'idée que plus d'Europe serait la solution mécanique au problème. Mais cette réponse est trop stéréotypée pour être convaincante. La contrainte européenne peut aussi être source de déresponsabilisation nationale, comme on peut le voir, par exemple, sur le plan budgétaire. En fait, tout porte à penser qu'il n'existe pas de réponse simple à des enjeux complexes. Pour clarifier ce débat, trois économistes de renom risquent chacun un point de vue. Stimulantes et toujours étayées, les conclusions de leurs analyses surprendront le lecteur. Y1 - 2005 N1 - ISBN 9782082105033 PB - Flammarion CY - Paris ER - TY - BOOK A1 - Pisani-Ferry, Jean A1 - Bénassy-Quéré, Agnès A1 - Coeuré, Benoît A1 - Jacquet, Pierre T1 - Economic Policy BT - New revised and expanded edition Chinese edition 2015. Greek edition in preparation Y1 - 2018 PB - Oxford University Press CY - Oxford ER - TY - BOOK A1 - Pisani-Ferry, Jean T1 - Quelle France dans dix ans? Y1 - 2014 PB - Fayard CY - Paris ER - TY - BOOK A1 - Pisani-Ferry, Jean T1 - The Euro Crisis and its Aftermath Y1 - 2014 PB - Oxford University Press CY - Oxford ER - TY - BOOK A1 - Pisani-Ferry, Jean T1 - The Euro Crisis and its Aftermath. Chinese Edition Y1 - 2015 PB - Remnin University Press CY - Beijing ER - TY - RPRT A1 - Pisani-Ferry, Jean T1 - Quinze ans de politiques d'innovation en France T2 - France Stratégie Y1 - 2016 N1 - http://www.strategie.gouv.fr/sites/strategie.gouv.fr/files/atoms/files/fs_rapport_cnepi_21012016.pdf VL - 2016 IS - Janvier PB - Commission nationale d’évaluation des politiques d’innovation CY - Paris ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - Comité de suivi du crédit d’impôt pour la compétitivité et l’emploi. Rapport 2015 JF - France Stratégie Y1 - 2015 VL - 2015 IS - Septembre PB - Comité de suivi du CICE CY - Paris ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - Rapport du Comité de suivi du Crédit d'impôt pour la compétitivité et l'emploi. Rapport 2014 JF - France Stratégie Y1 - 2014 VL - 2014 IS - Septembre CY - Paris ER - TY - BOOK A1 - Pisani-Ferry, Jean A1 - Mahfouz, Selma T1 - À qui la faute? BT - Comment éviter les erreurs économiques N2 - Le 15 septembre 2008, les dirigeants américains laissent la banque d'affaires Lehman Brothers faire faillite et déclenchent une panique financière. Pourquoi cette méprise ? Début 2011, la zone euro fait le choix de l'austérité budgétaire. La fragile reprise européenne est cassée net. Pourquoi cet égarement ? Depuis plus de trente ans, la France ne parvient pas à réduire son chômage alors que bien d'autres l'ont fait. Pourquoi cette impuissance ? Économiquement et socialement, ces erreurs ont été extrêmement coûteuses. Elles sont pour beaucoup dans le discrédit dont souffrent aujourd'hui les gouvernants. En politique économique, il y a bien des manières de faire fausse route. À qui la faute ? démonte les mécanismes de l'erreur. Il montre comment des dirigeants bien intentionnés peuvent prendre des décisions catastrophiques. Il met au jour les logiques qui les conduisent à la défaillance ou à l'échec. Et il formule des propositions pour des décisions mieux conçues et mieux exécutées. Y1 - 2016 SN - 978-2213701691 PB - Fayard CY - Paris ER - TY - BOOK A1 - Pisani-Ferry, Jean A1 - Lenglart, Fabrice ED - France Stratégie, T1 - 2017-2027 BT - Enjeux pour une décennie N2 - L’élection présidentielle n’a pas pour seul objet de désigner un dirigeant à la tête du pays. Le débat qui la précède est aussi, pour les Français, l’occasion de définir les questions essentielles qui se posent à la nation, d’identifier les options en présence et d’opérer leurs propres choix sur les directions à donner aux politiques publiques. France Stratégie a retenu plusieurs enjeux qui devront être au cœur des prochains débats : comment lutter contre le changement climatique ? Comment réduire la dette et restaurer notre compétitivité ? Quels leviers pour l’emploi ? Quelles réformes pour l’éducation ? Pour la fiscalité ? Comment tirer parti du numérique ? Comment garantir l’équité entre générations et l’équilibre entre métropoles et zones rurales ? Sur chaque thème, il s’agit d’offrir au lecteur un diagnostic étayé de la situation, un exposé des enjeux et un inventaire des options envisageables. Car toutes ces questions appellent des choix, de la part des candidats comme des électeurs. Voir plus loin, voir plus clair : cet effort de réflexion constitue une étape nécessaire si on veut qu’en 2017 le choix citoyen, la volonté politique et l’action publique soient à la hauteur des défis qui attendent le pays pour la décennie à venir. Y1 - 2016 SN - 978-2-11-145120-9 PB - La Documentation française CY - Paris ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - Euro area reform: An anatomy of the debate JF - CEPR Policy Insight No. 95 Y1 - 2018 UR - http://bruegel.org/wp-content/uploads/2018/11/201809_Eurodebate_CEPR_PolicyInsight_95.pdf ER - TY - JOUR A1 - Pisani-Ferry, Jean A1 - Demertzis, Maria A1 - Sapir, André A1 - Wieser, Thomas A1 - Wolff, Guntram T1 - One size does not fit all: European integration by differentiation JF - Policy Brief N2 - THE ISSUE Reforming the governance of the European Union has become urgent for three reasons: to better deal with politically-sensitive topics, to manage greater external challenges mand because future EU enlargement will increase the diversity of the bloc’s membership. The answer to disagreement typically has been qualified majority voting, but on sensitive topics, the EU has increasingly moved to unanimity and heavy European Council involvement, which has often not delivered results. The alternative answer has been a Europe of multiple speeds of integration with one shared goal for all, increasing political tensions. A different approach is now needed to move Europe forward. POLICY CHALLENGE Two options would be a Europe of concentric circles and a Europe of ‘clubs’, but the former would cement tensions between the inner and the outer circles, while the latter would lead to unclear structures and an end to cohesion. However, a governance model could combine the two approaches. The model would be based on a strong ‘bare-bones EU’ formed by the single market, trade and accompanying policies, the European institutions, treaties, rule of law and a commitment to fundamental EU values. Three policy areas would be completely moved into ‘clubs’ while remaining based on the bare-bones legal and institutional structure: economic and monetary union; Schengen and asylum policy; and foreign and security policy and neighbourhood policy. Club membership would be optional but once in, countries would have to accept the rules and there would be high hurdles to leaving. Finally, a ring of friends would surround the bare-bones EU, based on very close economic relationships and some multilateral discussion elements, but no formal votes. Y1 - 2018 UR - http://bruegel.org/wp-content/uploads/2018/09/PB-2018_03_final3.pdf VL - 3 SP - 1 EP - 12 ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - Should we give up on global governance? JF - Bruegel Policy Contribution 17 N2 - The high point of global governance was reached in the mid-1990s around the creation of the World Trade Organisation. It was hoped that globalisation would be buttressed by a system of global rules and a network of specialised global institutions. Two decades later these hopes have been dashed by a series of global governance setbacks, the rise of economic nationalism and the dramatic change of attitude of the United States administration. From trade to the environment, a retreat from multilateralism is observable. The 2008 elevation of the G20 to leaders’ level was an exception to this trend. But the G20 is no more than a political steering body. The reasons for this retreat partially arise from political developments in individual countries. But such factors hide a series specific roadblocks to global governance: the growing number and diversity of countries involved; the mounting rivalry between the US and China; doubts about globalisation and the distribution of the associated benefits; the obsolescence of global rules and institutions; imbalances within the global governance regime; and increased complexity. What, then, should be the way forward? The demand for global governance has not diminished, but support for binding multilateral arrangements has. There is a need for alternative governance technologies that better accommodate the diversity of players, provide for more flexibility and rely less on compulsion. From competition to financial regulation, such arrangements have been developed in a series of fields already. They are often hailed as providing a solution to the governance conundrum. But their effectiveness should be assessed critically. Can they overcome the free-rider curse and enforcement problems? Usual game theory suggests not. Not all games are similar, however, and some collective action problems can be tackled without recourse to coercion. Against this background, multilateralists hesitate over the choice of a strategy. One option would be to seek to preserve the existing order to the greatest extent possible. Its downside is that it does not address the underlying problems. An alternative option is to try to redesign international arrangements, putting the emphasis on flexibility and voluntary participation. Its downside is that it risks overlooking the intrinsic problems of international or global collective action. A potentially more promising approach would be to define the minimum conditions that the multilateral framework must fulfil to provide a strong-enough basis for flexible, variable-geometry and possibly informal arrangements. In the end, we should neither cultivate the nostalgia of yesterday’s order nor invest our hopes in ineffective international cooperation. The narrow path ahead is to establish a sufficient, critical multilateral base for flexible arrangements and to equip policymakers with a precise toolkit for determining, on a field-by-field basis, the minimum requirements for effective collective action. Y1 - 2018 UR - http://bruegel.org/wp-content/uploads/2018/10/PC-17-2018.pdf ER - TY - JOUR A1 - Bénassy-Quéré, Agnès A1 - Brunnermeier, Markus A1 - Enderlein, Henrik A1 - Pisani-Ferry, Jean A1 - Farhi, Emmanuel A1 - Fratzscher, Marcel A1 - Fuest, Clemens A1 - Gourinchas, Pierre-Olivier A1 - Martin, Philippe A1 - Rey, Hélène A1 - Schnabel, Isabel A1 - Véron, Nicolas A1 - Weder di Mauro, Béatrice A1 - Zettelmeyer, Jéromin T1 - Reconciling risk sharing with market discipline: A constructive approach to Eurozone reform JF - CEPR Policy Insight No. 91 KW - banking union, capital markets, European governance, eurozone governance, finance & financial regulation, fiscal policy, monetary union, Sovereign debt Y1 - 2018 UR - https://cepr.org/active/publications/policy_insights/viewpi.php?pino=91 ER - TY - CHAP A1 - Pisani-Ferry, Jean ED - Allen, Franklin ED - Carletti, Elena ED - Gulati, Mitu T1 - Euro area reform: Reflections on an initiative T2 - Institutions and the Crisis Y1 - 2018 U6 - https://doi.org/10.2870/421536 SP - 1 EP - 27 PB - European University Institute CY - Florence ER - TY - GEN A1 - Pisani-Ferry, Jean A1 - Zettelmeyer, Jeromin T1 - Risk Sharing Plus Market Discipline: A New Paradigm for Euro Area Reform? A Debate Y1 - 2017 UR - https://voxeu.org/content/risk-sharing-plus-market-discipline-new-paradigm-euro-area-reform-debate PB - CEPR CY - London ER - TY - GEN A1 - Bénassy-Quéré, Agnès A1 - Cœuré, Benoît A1 - Jacquet, Pierre A1 - Pisani-Ferry, Jean A1 - Roulet, Alexandra T1 - Politique économique N2 - Clair, rigoureux et complet : la référence indispensable pour comprendre la politique économique. Les crises ont profondément transformé la politique économique. La tempête fi nancière de 2008, la Grande Récession qui a suivi, les déboires de la zone euro, le niveau très faible de l’inflation, le ralentissement de la croissance, la hausse des dettes publiques et l’augmentation des inégalités ont ébranlé les certitudes passées et appellent de nouvelles réponses. Des chapitres oubliés de la théorie économique ont été relus et des instruments nouveaux ont été mis en place. Les questions qui se posent sont plus pressantes que jamais. Dans quelles circonstances la politique budgétaire est-elle efficace pour combattre une récession ? Quelles sont les limites de l’endettement public ? Que peut la politique monétaire lorsque l’inflation est voisine de zéro ? Comment contrôler la finance ? Quelles politiques faut-il mener ensemble, et lesquelles faut-il conduire séparément ? Comment taxer le capital ? Comment stimuler l’emploi ? Comment changer la qualité de la croissance ? Parce qu’il réunit, dans un seul volume, les principaux enseignements théoriques et l’analyse des débats actuels, Politique économique s’est imposé depuis plus de dix ans comme la référence pour comprendre les politiques économiques d’aujourd’hui. Cette quatrième édition a été entièrement refondue pour prendre en compte les derniers développements et débats sur la politique économique. Elle propose notamment un nouveau chapitre consacré à l’instabilité fi nancière et aux politiques susceptibles d’y répondre. L’ouvrage s’adresse à un public large : étudiants en licence ou master d’économie, de gestion ou de sciences politiques, candidats aux concours administratifs, praticiens et observateurs de la politique économique, acteurs de la vie économique. Y1 - 2017 SN - 978-2-8073-0162-7 PB - deboeck supérieur CY - Louvain-la-Neuve ER - TY - RPRT A1 - Pisani-Ferry, Jean A1 - Leonard, Mark A1 - Ribakova, Elena A1 - Wolff, Guntram T1 - Redefining Europe's Sovereignty T2 - Bruegel Policy Contribution N2 - Executive summary Europeans like to believe the European Union has the collective economic size and capacity to determine its own economic destiny. But the behaviour of others global powers is increasingly calling this ability into question. China and the United States, especially, do not separate economic interests from geopolitical interests in the same way the EU does. They are increasingly using economic connections, from cyberspace to financial links, to gain geopolitical advantage or to serve geopolitical goals. Europe’s economic sovereignty is at stake. The problem for Europe is real but manageable. This Policy Contribution examines the specific problems that China and the US pose for European economic sovereignty, and considers how the EU and its member states can better protect European economic sovereignty in a range of areas, including state aid to domestic industries, competition policy, investment screening, export controls, the international role of the euro, the role of European development banks, the European payments infrastructure and the global governance system. In each area, we recommend ways to improve the EU’s capacity to wield economic power, without advocating increased protectionism or a retreat from globalisation. We make recommendations on how to adapt the EU and national policy systems to better integrate economic and geopolitical considerations. The next European Commission should develop an economic sovereignty strategy to boost Europe’s research and scientific base, protect assets critical to national security from foreign interference, enforce a level playing field in domestic and international competition, and strengthen European monetary and financial autonomy. To guide the implementation of this strategy, an economic sovereignty committee should be established that will seek to integrate economic and security considerations within the European Commission. But the answer to this problem does not lie only in Brussels. We recommend a flexible implementation strategy that connects with member-state policy debates and makes use of ‘mini-lateral’ groups of member states. Y1 - 2019 UR - https://bruegel.org/2019/06/redefining-europes-economic-sovereignty/ ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - Can economic multilateralism survive? JF - Economic Affairs Y1 - 2019 U6 - https://doi.org/10.1111/ecaf.12331 VL - 39 IS - 1 SP - 3 EP - 24 ER - TY - GEN A1 - Pisani-Ferry, Jean A1 - Zettelmeyer, Jeromin T1 - Risk Sharing Plus Market Discipline: A New Paradigm for Euro Area Reform? A Debate N2 - The publication in 2017 of joint proposals for reforming the euro area by a group of seven French and seven German economists triggered a considerable debate on Vox. This volume offers a selection of the contributions to this debate together with a summary of the original proposal. Y1 - 2019 UR - https://voxeu.org/content/risk-sharing-plus-market-discipline-new-paradigm-euro-area-reform-debate PB - CEPR ER - TY - CHAP A1 - Pisani-Ferry, Jean A1 - Zettelmeyer, Jeromin T1 - Introduction T2 - Risk Sharing Plus Market Discipline: A New Paradigm for Euro Area Reform? A Debate Y1 - 2019 UR - https://voxeu.org/content/risk-sharing-plus-market-discipline-new-paradigm-euro-area-reform-debate ER - TY - RPRT A1 - Pisani-Ferry, Jean A1 - Zettelmeyer, Jeromin T1 - Could the 7+7 reportís proposals destabilise the euro? A response to Guido Tabellini T2 - Risk Sharing Plus Market Discipline: A New Paradigm for Euro Area Reform? A Debate Y1 - 2019 UR - https://voxeu.org/content/risk-sharing-plus-market-discipline-new-paradigm-euro-area-reform-debate PB - CEPR ER - TY - CHAP A1 - Pisani-Ferry, Jean T1 - 30 Euro area reform: An anatomy of the debate T2 - Risk Sharing Plus Market Discipline: A New Paradigm for Euro Area Reform? A Debate Y1 - 2019 PB - CEPR ER - TY - RPRT A1 - Fuest, Clemens A1 - Pisani-Ferry, Jean T1 - A Primer on developing European Public Goods: Report to Ministers Le Maire and Scholz T2 - EconPol Policy Report N2 - Executive Summary The EU has mostly been defined as a provider of economic integration. The single market and the euro were both integration-driven. In a context transformed by technology, global and re-gional challenges, and geopolitical change, time has come to give renewed priority to European public goods – policies and initiatives whose value to the citizens are higher when conducted at EU rather than at national level. These are: 1.Foreign economic relations. When security is at stake, the EU should have the power toblock a foreign investment by QMV; promote the internationalisation of the euro throughthe granting of swap lines to partner central banks and the introduction of a common safeasset; and move towards a consolidated euro-area representation at the IMF.2.Climate change mitigation. All sectors should be part of a European regime based on theETS or a carbon tax system. The EU should be able to set by qualified majority binding corri-dors for carbon prices and to sanction infringements to jointly determined decarbonisationplans. It should contribute to offsetting the social costs of the transition.3.Digital sovereignty. The EU needs to pool its resources to protect cybersecurity and digitalsovereignty. A high-level group should propose measures for the single market and avenuesfor closer cooperation amongst a subset of counties.4.Research and development in large and risky projects. A European DARPA should focusexclusively on pathbreaking projects – without consideration for distribution across coun-tries – and be able to terminate unsuccessful projects abruptly.5.Development cooperation and financial assistance to third countries. Chinese inroadshave made the case for a common development approach stronger. The EU should choose1 Clemens Fuest is President of the ifo Institute and Professor of Economics at the University of Munich. Jean Pisani-Ferry holds the Tommaso Padoa-Schioppa chair at the EUI and is a Senior Fellow with Bruegel. We are grateful for comments on a preliminary version to Laurence Boone, Christian Callies, Charles Grant, Daniel Gros, Michel Houdebine, George Papaconstantinou, Carsten Pillath, Pierre Sellal, Hubert Védrine, Jakob von Weizsäcker and Guntram Wolff. The usual disclaimer applies. Executive Summary 2 EconPol Policy Report 16/2019 Vol. 3 November 2019 between bolstering the out-of-area mandate of the EIB and leveraging its participation in the EBRD. 6.Migration policy and the protection of refugees. Refugees come to Europe, not to a partic-ular member state. A lasting solution should include a common border protection system, a common legal framework for asylum, common principles for allocating persons to whom asylum has been granted, and common policies for resettling persons to whom immigra-tion have been denied. This implies moving ahead with a subset of countries. Eventually, the Schengen area the common migration policy area will coincide. 7.Foreign policy and external representation. The case for a European approach is strong, but mechanisms alone are not sufficient to overcome deep policy divergences. We propose three practical steps: initiatives to strengthen the European soft power, savings-oriented back-office cooperation, and regular European Foreign Policy White Books. 8.Military procurement and defence. A way forward for European defence is variable geome-try. Progress should be made towards common procurement, shared infrastructures, com-mon arms export policies and joint defence initiatives. The enhanced provision of European public goods requires additional funding, but it should not increase the overall tax burden for EU citizens. The overall tax burden should decline if public goods are more efficiently provided at European than a national level. But more resources would need to be shifted to the European level. While there is an ongoing debate about the financing of the EU budget, we propose to disconnect the provision of new European public goods from longer-term issue of reforming EU finances. This implies funding European public goods through higher GNI-based resources in the EU budget. To bring momentum to the project of enhancing the provision of European public goods, we pro-pose that France and Germany undertake to start the following bilateral projects: A common agency and a common research institute for cybersecurity; A common fund for supporting breakthrough innovation; Joint armed forces and a uniform arms system; A joint strategy for African development; A Franco-German chair at the IMF. Y1 - 2019 UR - https://www.econpol.eu/sites/default/files/2019-11/EconPol_Policy_Report_16_2019_EuropeanPublicGoods-v2.pdf VL - 16 IS - 3 ER - TY - GEN A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean T1 - Global Governance: Demise or Transformation ? Progress report on the Transformation of Global Governance project 2018-2019 Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 PB - EUI CY - Florence ER - TY - CHAP A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean T1 - Introduction T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 1 EP - 16 PB - EUI CY - Florence ER - TY - CHAP A1 - Hoekman, Bernard A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean T1 - The Governance of International Trade: Reshape or Demise? Seminar insights T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 EDITED Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 17 EP - 21 PB - EUI CY - Florence ER - TY - CHAP A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean A1 - Wolff, Guntram T1 - Extraterritoriality and Cooperation in Competition Policy. Seminar insights T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 Y1 - 2019 SN - 78-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 35 EP - 36 PB - EUI CY - Florence ER - TY - CHAP A1 - Berklof, Erik A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean A1 - Velasco, Andrés T1 - The governance of global financial safety nets: fit for purpose? Seminar insights. T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 49 EP - 52 PB - EUI CY - Florence ER - TY - CHAP A1 - Carnetti, Elena A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean T1 - The governance of international banking. Seminar insights. T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 71 EP - 74 PB - EUI CY - Florence ER - TY - CHAP A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean A1 - Saint-Amans, Pascal T1 - Taxation governance in global markets: challenges, risks and opportunities T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 101 EP - 105 PB - EUI CY - Florence ER - TY - CHAP A1 - Geddes, Andrew A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean T1 - Migration governance: a common approach? T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 121 EP - 124 PB - EUI CY - Florence ER - TY - CHAP A1 - Pisani-Ferry, Jean A1 - Papaconstantinou, George A1 - Tubiana, Laurence T1 - The Governance of Climate Change: Making it Work T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 Y1 - 2019 SN - The Governance of Climate Change: Making it Work U6 - https://doi.org/10.2870/310247 SP - 143 EP - 148 PB - EUI CY - Florence ER - TY - CHAP A1 - Mourlon-Druol, Emmanuel A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean T1 - The Governance of Trade, Finance and Macroeconomic Cooperation: A Historical Perspective since the 1970s T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Gove Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 171 EP - 173 PB - EUI CY - Florence ER - TY - CHAP A1 - Pisani-Ferry, Jean T1 - Collective action in a fragmented world T2 - Global Governance: Demise or Transformation? Progress report on the Transformation of Global Governance Project 2018-2019 Y1 - 2019 SN - 978-92-9084-788-5 U6 - https://doi.org/10.2870/310247 SP - 187 EP - 198 PB - EUI CY - Florence ER - TY - RPRT A1 - Pisani-Ferry, Jean T1 - Collective action in a fragmented world T2 - Bruegel Policy Brief Y1 - 2019 UR - https://bruegel.org/wp-content/uploads/2019/09/Bruegel_Policy_Brief-2019_05_1.pdf ET - 5 ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - Can economic multilateralism survive? JF - Economic Affairs Y1 - 2019 U6 - https://doi.org/10.1111/ecaf.12331 VL - 39 IS - 1 SP - 3 EP - 24 ER - TY - JOUR A1 - Leonard, Mark A1 - Pisani-Ferry, Jean A1 - Ribakova, Elina A1 - Shapiro, Jeremy A1 - Wolff, Guntram T1 - Securing Europe’s Economic Sovereignty JF - Survival - Global Politics and Strategy N2 - To protect European economic independence, the EU needs to better integrate economic policy and geopolitics. Europeans like to believe that the European Union has the collective economic size and capacity to determine Europe’s economic destiny. They think the EU can determine its own rules for economic life, negotiate on an equal footing with partner economies, and even set economic standards and regulations for the rest of the world. But perhaps the EU has been lucky so far. Perhaps its apparent economic independence was always the result of the fortuitous absence of geopolitical interference. Perhaps it could only flourish under the benevolent aegis of a real superpower. Perhaps, in other words, its independence only endured because no serious power was willing to challenge it, and because the United States was willing to protect it. Now the behaviour of other powers is increasingly calling Europe’s economic sovereignty into question. China and the US, in particular, do not separate economic interests from geopolitical interests in the same way that the EU does. They are increasingly using economic connections, from cyberspace to financial links, to serve geopolitical goals. Europe’s economic sovereignty is now at stake. Until recently, the EU took for granted that the global system provided a functional framework for international economic relations, which could be regarded as separate from the sphere of geopolitics. Of course, the economic rules of the road were determined by power relations that arose in the wake of the Second World War. But in the years that followed, even the US largely followed them. The economic and geopolitical spheres often overlapped, particularly during the Cold War. But the US regarded the economic integration of ‘Western’ countries as conducive to the strength of the free world, and it stood by this principle even after the Soviet Union ceased to exist. The EU’s very construction reflected this disposition: most international economic powers were given to EU-level bodies, and most security and foreign-policy instruments were left to individual member states. Accordingly, the EU was able to conduct an international economic policy that was reasonably insulated from geopolitical concerns. This separation of the economic was always fragile. It now looks hopelessly outdated. The US and China have fundamentally different relationships with Europe, but neither separates economics from geopolitics. In general, national-security issues are gaining prominence everywhere, as is the relationship between economics and national security. Economic connections, from cyberspace to financial links, are becoming the primary areas of great-power competition and are at risk of being weaponised.1 Increasingly, the US and China follow neither the letter nor the spirit of the rules in their relationships with the EU and its member states. In the US case, its decision to make full use of the centrality of its currency and its financial system to enforce secondary sanctions against Iran was a major shock to European partners. Washington’s abandonment of core principles of the global multilateral trading system and withdrawal from the Paris Agreement on climate change were also disruptive. As for China, the EU now accepts that Beijing is behaving as ‘an economic competitor in the pursuit of technological leadership, and a systemic rival promoting alternative models of governance’.2 It is essential that Europeans respond to this challenge. The collective capacity of EU countries working together to preserve their economic independence underpins the value of European integration to European citizens. That value is further bolstered by the EU’s ability to participate in defining the rules of the game for the global economy – what Germans call Handlungsfähigkeit and the French call Europe puissance. The challenge for Europe is substantial but manageable. The EU and its member states should adopt an economic-sovereignty agenda to protect European economic independence through a variety of tools ranging from competition policy to the international role of the euro. To do so, the EU needs to better integrate economic policy and geopolitics. Y1 - 2019 U6 - https://doi.org/10.1080/00396338.2019.1662148 VL - 61 IS - 5 SP - 75 EP - 98 ER - TY - RPRT A1 - Pisani-Ferry, Jean A1 - Wolff, Guntram T1 - The threats to the European Union’s Economic Sovereignty T2 - Bruegel Policy Brief N2 - Economics used to play a limited role in foreign policy, which was about wars, conflicts and human disasters – and how to avoid them. But neither China nor the United States now separates economics from geopolitics. The competition between them is simultaneously an economic competition and a security competition. This is a threat to the multilateral system the European Union has relied on for nearly seven decades and to the EU’s separation of external economic relationships from geopolitics. You and your Commission colleagues must redefine for the EU its concept of economic sovereignty and the instruments it needs to defend and promote it. Y1 - 2019 UR - http://bruegel.org/wp-content/uploads/2019/07/High-rep-memo.pdf ER - TY - JOUR A1 - Pisani-Ferry, Jean T1 - I nuovi imperialismi JF - Aspenia Y1 - 2019 UR - https://www.aspeninstitute.it/aspenia/numero/la-politica-dellalgoritmo VL - 85 SP - 126 EP - 131 ER - TY - RPRT A1 - Papaconstantinou, George A1 - Pisani-Ferry, Jean T1 - A big leap forward : Institutions and policies for a viable euro area T2 - EUI Policy Papers N2 - Economic and Monetary Union (EMU) reform is critical for a viableEuro area but is taking place against a backdrop of political constraints. As a contribution to this on-going discussion, this paper situates the reform debate in the context of the main lessons from the Euro crisis and the current economic and political cycle, and discusses the different elements of the reform agenda. The focus is on the main critical reform and institutional issues which remain as stumbling blocks. Y1 - 2019 UR - https://tgg.eui.eu/wp-content/uploads/sites/39/2019/03/A-Big-Leap-Forward-Institutions-and-Policies-for-a-Viable-Euro-Area.pdf ER - TY - CHAP A1 - Enderlein, Henrik A1 - Pisani-Ferry, Jean A1 - Zettelmeyer, Jeromin A1 - et al., T1 - Euro area architecture: What reforms are still needed, and why T2 - Risk Sharing Plus Market Discipline: A New Paradigm for Euro Area Reform? A Debate N2 - The publication in 2017 of joint proposals for reforming the euro area by a group of seven French and seven German economists triggered a considerable debate on Vox. This volume offers a selection of the contributions to this debate together with a summary of the original proposal. Y1 - 2019 SN - 978-1-912179-21-3 SP - 236 EP - 242 PB - CEPR Policy Portal ER -