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The European Central Bank’s Inflation Dilemma

Major central banks have finally accepted that inflationary pressures are here to stay. Both the Federal Reserve and the European Central Bank now admit that price increases are not a …

Scholz’s Next Big Challenge: Reforming the EU’s Debt Rules

The Ukraine crisis has caught the new German government largely by surprise and is providing an early test for the new coalition and its leader, Chancellor Olaf Scholz. His response …

Will France Lead the EU to More “Autonomy”?

To mark the start of France’s six-month presidency of the European Union, President Emmanuel Macron and European Commission President Ursula von der Leyen honored two French citizens at a January …

Michael Schwan, DAAD/AICGS Research Fellow

AICGS is pleased to welcome Michael Schwan as a DAAD/AICGS Research Fellow from October to December 2021. Dr. Schwan is a postdoctoral researcher at the University of Cologne in Germany …

Draghi to the Rescue, Act Two

Italian prime minister Mario Draghi describes his own country as “beautiful, but fragile.” The former central banker is trying to replicate in Italy what he did for the monetary union …

A Digital Euro and Central Bank Digital Currencies

Cryptocurrencies continued to make headlines in 2020 and early 2021. For one thing, Bitcoin rallied again in November, December, and the beginning of January, lifting its price to more than …

After the EU Summit: Without the UK, A Single Economic Future?

The European Union’s €750 billion “Next Generation EU” pandemic recovery fund announced at the EU summit on Tuesday has broken important new ground. Assuming the European Parliament gives its approval …

EU Special Summit Agrees on Post-Pandemic Recovery Fund

After four days of intensive negotiations, the EU special summit has finally made a breakthrough: EU leaders agreed on a recovery fund to combat the economic consequences of the coronavirus …

Episode 28: From Frugality to Stimulus: Responses to the Pandemic

The COVID-19 pandemic is challenging all aspects of modern society.  Public health systems are grappling with a disease that has spread faster than anything in a century.  Workplaces have lain …

From CARE Packages to Coronabonds: Will the EU Step Up?

The third coronavirus rescue package agreed last week by the U.S. Congress has a name that echoes: the CARES Act. Short for “Coronavirus Aid, Relief, and Economic Security,” it recalls …

Will the EU’s Climate Law Turn Europe Green?

In a few weeks, the European Union will unveil the long awaited European Climate Law, designed to “set the direction of travel for EU climate action, give predictability for investors …

Fiscal Stimulus for the European Economy: The Right Thing?

With weaker economic growth in Europe, the idea is being resurrected that European governments, or at least those with “enough fiscal space,” should stimulate their economies by increasing government debt …

Transatlantic Responses to the “China Challenge,” and the Changing Dynamics of Global Development

The past decade has been distinguished by the looming question of the “China Challenge,” which has often been characterized as the biggest threat to the liberal world order and democracy …

Why Germany and the U.S. Should Embark on a Large-Scale Investment Program Now

In recent years, fiscal policy in Germany and the U.S. has diverged. In response to the financial crisis both countries implemented large stimulus programs, but over time the policy priorities …