TY - EDBOOK 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 - EDBOOK 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 - 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 - EDBOOK 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 -