Economic Policy


10 December 2013
25 November 2013
14 November 2013



Food Security and Development Policy, Economic Policy
April 2010 - March 2015


Economic Policy, Energy, Social welfare policies
February 2011 - January 2015


Economic Policy
November 2010 - October 2014


Economic Policy
August 2009 - May 2014


Economic Policy
January 2011 - January 2014


Economic Policy
April 2010 - March 2013


Economic Policy, Energy, Financial Markets, Justice and Home Affairs
March 2010 - February 2013


Economic Policy, Trade Developments
March 2010 - February 2013


Economic Policy


Dr. Daniel Gros, Director, CEPS
Prof. Paul De Grauwe, Associate Senior Fellow, and University of Leuven
Dr. Miroslav Beblavy, Associate Senior Fellow, and Member of the Slovak Parliament
Jorgen Mortensen, Associate Senior Fellow
Dr. Cinzia Alcidi, LUISS Research Fellow
Dr. Mikkel Barslund, Research Fellow
Dr. Jorge Nuñez Ferrer, Associate Research Fellow
Dr. Anna-Elisabeth Thum, Associate Research Fellow
Ilaria Maselli, Researcher
Elisa Martellucci, Research Assistant


Economic and social welfare policies are mostly a national competence within the EU. This unit is thus largely concerned with issues such as fiscal policy, ageing, education and labour market reforms – not strictly within the domain of the EU’s competences. However, since member countries often face very similar problems, it has proved useful to analyse these issues from a comparative, European and global perspective. The unit has been active in these fields for several years, in particular through its European Network of Economic Policy Research Institutes (

Fiscal policy also remains a national prerogative in general, but is subject to the Stability and Growth Pact. Research on fiscal policy, especially on longer-term sustainability within a monetary union, is thus also an important part of the remit of this unit. This area of work tends to come in waves: periods of economic difficulty usually lead to large deficits, which in turn raise the issue of sustainability and the application of the Stability and Growth Pact. One field of economic policy has been unified, however, and that is monetary policy. The unit has thus continued to monitor the European Central Bank, comment on its policies and provide research on monetary policy in general.


Given the unprecedented economic and financial crisis of 2007-08, the full consequences of which are still not fathomable, the focus of the unit will continue to be on macroeconomic policies throughout 2011. The unit will once more provide a regular analysis of the key macroeconomic policy issues facing the EU through its Macroeconomic Policy Group reports (otherwise known as ‘ECB Watchers’), and will also continue to look at the macroeconomic implications of the state of financial and banking markets, in close cooperation with our colleagues from the financial markets unit who follow the regulation of finance in general.

Since 2008, CEPS has been responsible for the management of an important part of the content of Intereconomics. We aim to make Intereconomics the leading forum for research-based discussion about major European economic policy issues and enhance its already respectable readership and recognition in the field.


FP7 Projects


NEUJOBS - Employment 2025: How multiple transitions will affect the European labour market

Since the spring of 2011, the CEPS Macroeconomic Policy Unit has been coordinating NEUJOBS, a major research project financed by the European Commission under the 7th Framework Programme. The project consists of 29 partners and 23 WPs. NEUJOBS objective is to analyse likely future developments in the European labour market(s), in view of four major transitions that will impact employment and European societies in general. What are these transitions? The first is the socio-ecological transition: a comprehensive change in the patterns of social organisation and culture, production and consumption that will drive humanity beyond the current industrial model towards a more sustainable future. The second is the societal transition produced by the combination of population ageing, low fertility rates, changing family structures, urbanisation and growing female employment. The third transition concerns new territorial dynamics and the balance between agglomeration and dispersion forces. The fourth is a skills (upgrading) transition and we are interested in its likely consequences for employment and (in) equality. The project combines EU-wide studies based on existing datasets with national comparative research dealing with one country from each welfare typology. The output is based on a mix of quantitative and qualitative analysis and foresight activities. Special attention is given to policy-making.


Launched in January 2009, ANCIEN is a research project financed under the 7th EU Research Framework Programme. It runs for a 44-month period and involves 20 partners from EU member states. The project principally concerns the future of long-term care (LTC) for the elderly in Europe and addresses two questions in particular:
1) How will need, demand, supply and use of LTC develop?
2) How do different systems of LTC perform?

The project proceeds in consecutive steps of collecting and analysing information and projecting future scenarios on long term care needs, use, quality assurance and system performance. State-of-the-art demographic, epidemiologic and econometric modelling is used to interpret and project needs, supply and use of long-term care over future time periods for different LTC systems.

For more information, please visit the ANCIEN website (

BEL-DEBT: On the sustainability of public finances in Belgium

Since the onset of the sovereign debt crisis in Europe in early 2010, developments in the public debt of Eurozone countries have been closely followed by financial markets. Belgium, one of the countries in Europe with the highest level of debt relative to GDP, has not been an exception. Even though Belgium managed to stay more or less off the radar screen of international investors thanks to its economic performance, the ongoing political crisis and the uncertainty surrounding the potential effects of future reforms have attracted, more recently, the attention of market participants as spreads on government bonds have been widening. This pushed the question of debt sustainability to the top of the agenda of Belgium’s policy-makers. Click here for more information.


The objective of the INDICSER (FP7-) project is to develop indicators which provide information on the performance of service sectors in the EU. At the heart of the project are concerns that such indicators should be valid in terms of concepts, measurement methods and feasibility but should also have value in terms of their usefulness for policy. Therefore the approach adopted is to include both an EU-wide application of existing concepts and develop and experiment with new concepts. This will be carried out within an overall coherent structural framework designed to address the key issues of productivity and value for money. Website:


In the past decade the performance of service industries has come to the forefront of research on Europe's comparative economic performance, especially as the benefits from the use of information and communications technology (ICT) have been concentrated in these industries. The SERVICEGAP project will consider the academic and policy concerns that arise from the increasing importance of the market service sector. It will consider developments in productivity and its drivers within market services, linkages between services and manufacturing industries, innovation in delivery and the increasing internationalisation of services. The overall objective of this research is to produce a comprehensive study on the impact of market services on aggregate economic growth in the EU and its comparative performance relative to competitor regions, especially the US. Website: