Structural Reforms and European Integration: Theory, Measurement and Econometric Evidence
Lead Research Organisation:
London School of Economics and Political Science
Department Name: European Institute
Abstract
Since the 2007 financial crisis, most EU countries have been unable to return to their pre-crisis growth path. From many European capitals, we hear incessantly that structural reforms are the key to economic growth. Although this view has led many countries in Europe into implementing reform programs, we still lack a clear understanding of structural reforms. The almost exclusive focus on product and labor market regulations (in detriment to other important reforms such as trade liberalization) has contributed to this dearth of analysis. This project aims to fill this gap.
The issue of whether structural reforms lead to growth remains controversial. One critique of current policies departs from a New Keynesian interpretation of the low growth experienced in many European countries. Policies that improve the supply side through structural reforms may not automatically lead to more demand and output. Structural reforms may even lead to reduced demand and thus to a more repressed level of economic activity. In this context, one key issue is the timing of the implementation of these reforms. Some reforms, if implemented during a recession, can exacerbate it and, as an unintended side effect, can weaken the political resolve to undertake reforms. Another critique of structural reforms stresses the importance of identifying a range of structural reforms that can boost a country's economic capacity to grow. Structural reforms usually include opening up of the economy to international trade, to international competition and to foreign direct investment, the transfer of state assets to the private sector, product market deregulation and measures aimed at making labour markets more flexible. The current focus on labour market and product market flexibilities is limited and incomplete. Some key lessons from the experience of the "new EU members" (economies that transited from communism to a market-based system) is that there is a comprehensive range of structural reforms (beyond labour and product markets) that needs to be implemented and that the sequencing of reforms matters. Thus the ultimate impact of reforms on economic outcomes is complex.
Our research has three objectives:
(1) To construct a panel data set reflecting the extensive reform experience of the 28 EU members between 1990 and 2015.
(2) To use this data set to provide a study of the determinants of structural reforms. We will analyse the role of initial conditions, institutions and political development, and of economic growth on the dynamics of structural reforms.
(3) To investigate how structural reforms may affect economic growth and income inequality. This will allow us to shed light on the policy questions formulated earlier, i.e. should policymaking focus on structural reforms to boost growth, and if so, which individual reforms are most beneficial?
This project will build on three strands of literature. The first one focuses on the determinants of structural reforms. Especially, we will exploit insights from the reform experience of Central and Eastern European countries during their transition in the 1990s. The second one studies the issue of how structural reforms can be used to boost economic growth. It has led to an intense debate on the relative merits of supply side policies against policies aimed at boosting aggregate demand. The third one focuses on the theory and empirics of the relationship between structural reforms and income inequality.
We will use a new and unique data set and advanced econometric methodologies to tackle various challenges. One key challenging issue is that there may be a two-way causality between structural reforms, on the one hand, and economic growth and income inequality on the other. One key objective of the research project here proposed is to disentangle this complex causal relationship.
The issue of whether structural reforms lead to growth remains controversial. One critique of current policies departs from a New Keynesian interpretation of the low growth experienced in many European countries. Policies that improve the supply side through structural reforms may not automatically lead to more demand and output. Structural reforms may even lead to reduced demand and thus to a more repressed level of economic activity. In this context, one key issue is the timing of the implementation of these reforms. Some reforms, if implemented during a recession, can exacerbate it and, as an unintended side effect, can weaken the political resolve to undertake reforms. Another critique of structural reforms stresses the importance of identifying a range of structural reforms that can boost a country's economic capacity to grow. Structural reforms usually include opening up of the economy to international trade, to international competition and to foreign direct investment, the transfer of state assets to the private sector, product market deregulation and measures aimed at making labour markets more flexible. The current focus on labour market and product market flexibilities is limited and incomplete. Some key lessons from the experience of the "new EU members" (economies that transited from communism to a market-based system) is that there is a comprehensive range of structural reforms (beyond labour and product markets) that needs to be implemented and that the sequencing of reforms matters. Thus the ultimate impact of reforms on economic outcomes is complex.
Our research has three objectives:
(1) To construct a panel data set reflecting the extensive reform experience of the 28 EU members between 1990 and 2015.
(2) To use this data set to provide a study of the determinants of structural reforms. We will analyse the role of initial conditions, institutions and political development, and of economic growth on the dynamics of structural reforms.
(3) To investigate how structural reforms may affect economic growth and income inequality. This will allow us to shed light on the policy questions formulated earlier, i.e. should policymaking focus on structural reforms to boost growth, and if so, which individual reforms are most beneficial?
This project will build on three strands of literature. The first one focuses on the determinants of structural reforms. Especially, we will exploit insights from the reform experience of Central and Eastern European countries during their transition in the 1990s. The second one studies the issue of how structural reforms can be used to boost economic growth. It has led to an intense debate on the relative merits of supply side policies against policies aimed at boosting aggregate demand. The third one focuses on the theory and empirics of the relationship between structural reforms and income inequality.
We will use a new and unique data set and advanced econometric methodologies to tackle various challenges. One key challenging issue is that there may be a two-way causality between structural reforms, on the one hand, and economic growth and income inequality on the other. One key objective of the research project here proposed is to disentangle this complex causal relationship.
Planned Impact
The project has enormous potential policy relevance for our understanding of European Integration because the implementation of structural reforms is widely perceived as a key element to the resolution of the current economic crisis. By analysing both the implementation dynamics of a broad set of reforms (beyond product and labour market regulations) and the impact such reforms have on growth and inequality, this project will deliver an innovative, rich and policy-relevant set of lessons and insights. We anticipate considerable impact on policy makers in EU member countries and European institutions alike. Regarding its expected scientific contribution, the findings of the proposed project will complement and substantially further the ongoing international research effort to better understand the interactions between politics and economics and the role of particular institutional features in promoting economic growth and income distribution.
The target groups for the research findings of this project are academicians, NGOs, journalists, and policy makers and decision makers. The planned dissemination efforts are designed to ensure that the results of this research are made available in such a way as to maximise the chance of influencing future scholarship, policy and practice.
In the past, all three investigators have had successful experience in terms of both influencing policy and disseminating their research to wider audiences. For example, Professor Paul De Grauwe's research on the Eurozone has influenced monetary policies of the European Central Bank as well as the wider and still on-going policy debates on reforms of Eurozone governance.
In order to benefit from broader expertise and guidance the proposed research project will have a distinguished Steering Committee and a sequence of project milestones. The main stages in the project timetable are as follows: preparation work occupies the first two months, fieldwork and data collection lasts from month 3 to month 12, analysis phase is from month 13 to 18, and the writing-up stage from month 19 to 24. The Steering Committee will be composed by 12 distinguished experts from academia (UK and abroad) and international development institutions (please also see Pathways to Impact). From these we plan to solicit feedback and criticism throughout the project and crucially at three main project milestones. The first main milestone takes place at the end of the data collection stage when a major exercise in stock taking occurs. Data collected thus far is reviewed, its quality assessed and eventualities considered. This first version of the data set is to be presented in informal meetings to relevant scholars and decision makers with the possibilities for data imputation also discussed. The second milestone is when the first econometric results become available. We plan to informally present these preliminary results at various events. The third proposed key milestone is just before the writing-up stage starts.
An important element in our impact plan is the dissemination strategy. The proposed project website will enhance the visibility and availability of the panel data set and all the research analysis generated. The project website will publicise and disseminate project activities and outcomes, as well as create a focal point for researchers and policy-makers in the UK and abroad interested in structural reforms. It will provide up-to-date links to research, researchers and resources in this area. This will be accompanied by publication of columns and editorials (summarizing the main findings of the research and distilling their policy implications in ways that potential beneficiaries can understand, value and use) in influential internet sites such as CEPR's voxeu.org, theconversation.com, and Project Syndicate. Our strategy also entails a twitter feed in order to keep users up to date and engaged with activities and findings from the research project.
The target groups for the research findings of this project are academicians, NGOs, journalists, and policy makers and decision makers. The planned dissemination efforts are designed to ensure that the results of this research are made available in such a way as to maximise the chance of influencing future scholarship, policy and practice.
In the past, all three investigators have had successful experience in terms of both influencing policy and disseminating their research to wider audiences. For example, Professor Paul De Grauwe's research on the Eurozone has influenced monetary policies of the European Central Bank as well as the wider and still on-going policy debates on reforms of Eurozone governance.
In order to benefit from broader expertise and guidance the proposed research project will have a distinguished Steering Committee and a sequence of project milestones. The main stages in the project timetable are as follows: preparation work occupies the first two months, fieldwork and data collection lasts from month 3 to month 12, analysis phase is from month 13 to 18, and the writing-up stage from month 19 to 24. The Steering Committee will be composed by 12 distinguished experts from academia (UK and abroad) and international development institutions (please also see Pathways to Impact). From these we plan to solicit feedback and criticism throughout the project and crucially at three main project milestones. The first main milestone takes place at the end of the data collection stage when a major exercise in stock taking occurs. Data collected thus far is reviewed, its quality assessed and eventualities considered. This first version of the data set is to be presented in informal meetings to relevant scholars and decision makers with the possibilities for data imputation also discussed. The second milestone is when the first econometric results become available. We plan to informally present these preliminary results at various events. The third proposed key milestone is just before the writing-up stage starts.
An important element in our impact plan is the dissemination strategy. The proposed project website will enhance the visibility and availability of the panel data set and all the research analysis generated. The project website will publicise and disseminate project activities and outcomes, as well as create a focal point for researchers and policy-makers in the UK and abroad interested in structural reforms. It will provide up-to-date links to research, researchers and resources in this area. This will be accompanied by publication of columns and editorials (summarizing the main findings of the research and distilling their policy implications in ways that potential beneficiaries can understand, value and use) in influential internet sites such as CEPR's voxeu.org, theconversation.com, and Project Syndicate. Our strategy also entails a twitter feed in order to keep users up to date and engaged with activities and findings from the research project.
Publications
Bircan C
(2018)
Crony Capitalism in the Middle East
Bruno R
(2018)
Taking stock of firm-level and country-level benefits from foreign direct investment
in Multinational Business Review
Bruszt L
(2018)
Economic integration and state capacity
in Journal of Institutional Economics
Campos N
(2019)
Institutional integration and economic growth in Europe
in Journal of Monetary Economics
Campos N
(2017)
EU Membership, Mrs Thatcher's Reforms and Britain's Economic Decline
in Comparative Economic Studies
Campos N
(2020)
Close encounters of the European kind: Economic integration, sectoral heterogeneity and structural reforms
in European Economic Review
CAMPOS N
(2017)
Political institutions, lobbying and corruption
in Journal of Institutional Economics
Campos N
(2019)
Business cycle synchronisation and currency unions: A review of the econometric evidence using meta-analysis
in International Review of Financial Analysis
Campos N
(2018)
Slow Recovery to Nowhere? Labor Market Issues in Advanced Economies: Introduction
in Open Economies Review
| Description | The key findings of the research performed in the context of the project ESRC-project on "Structural Reforms and European Integration: Theory, Measurement and Econometric Evidence" can be summarized as follows: First, we document that structural reform programs have very divergent effects on economic growth, employment and income inequality. Sometimes they promote growth and employment; sometimes they have opposite effects. The same holds true for its effects on inequality. We also show that similar structural reform programs in one country have very different effects on inequality than in other countries. Sometimes they reduce inequality, sometimes they increase it or have no discernible effects. Thus, more generally, structural reforms are somewhat poor predictors of subsequent changes in economic growth, employment and inequality. This conclusion was corroborated by several contributions in the two books we published as outcomes of this project, namely The Political Economy of Structural Reforms in Europe, Oxford University Press, 2018, and Economic Growth and Structural Reforms in Europe, Cambridge University Press, 2020. Second, the effects of structural reforms very much depend on "initial conditions". The latter can be institutional in nature. These initial conditions often are the macroeconomic policies that are pursued jointly with structural reforms. They can also be related to the business cycle conditions. In this connection, our research finds that structural reforms implemented during a recession may actually aggravate the recession. Third, financial crisis play a key role in changing the policy equilibrium concerning financial markets and institutions. Using a recent comprehensive dataset we assemble for this research project focusing on financial liberalization across 94 countries for the period between 1973 and 2015, we formally tested the validity of this prediction for the member states of the European Union as well as a global sample. In the global sample, our findings on the causal relationship between crises and liberal reforms consistently point out a negative direction between the two, suggesting that governments react to crises by imposing renewed regulations in financial markets leading to a reversal of the liberalization process. However, we also find that such re-regulations are only temporary and the liberalization process restarts (on average) eight years after the financial crisis. In the EU sample, interestingly, we do not find sufficient evidence to support these observations. A contributing factor could be the potentially large lobbying power of commercial banks in Europe since the banking sector comprises a big chunk of the overall financial system in many European countries. It is possible that a stronger banking sector might have more resources to be able to resist potential government interventions in the aftermath of financial crises. This research is published in our book "Structural Reforms and Economic Growth in Europe", Cambridge University Press, 2020. Fourth, we studied whether and to what extent changes in labour market regulation can be seen as complementary to tax reforms in increasing employment across the European Union. Our results point at a positive and significant interaction effect. Our interpretation is that while labour market reforms, like the loosening of employment protection, makes the supply side of the economy more flexible and increases employment, this effect on employment growth is reinforced significantly when demand is also stimulated. The latter is accomplished by tax reductions. Thus the complementarity of labour market reforms and tax reforms may be understood as the former stimulates supply while the latter gives a boost to demand. This research is published in our book "Structural Reforms and Economic Growth in Europe", Cambridge University Press, 2020. Fifth, we analyzed how different types of structural reforms affect the macro economy. We used a New Keynesian behavioral macroeconomic model to perform this analysis. We find that structural reforms that increase price flexibility can have profound effects on the dynamics of the business cycle. In particular, in a more flexible economy (i.e., one that exhibits more price flexibility) the power of animal spirits is reduced and so is the potential for booms and busts in the economy. This is because in more flexible economies prices have a greater role to play in adjustments to emerging disequilibria. Since the central bank attaches a greater importance to inflation stabilization than output stabilization, this has the effect that the central bank will tend to stabilize more in a flexible than in a rigid economy. This reduces the amplitude of the business cycles and as a result creates less scope for waves of optimism and pessimism in producing booms and busts. This finding was published in the European Economic Review, 2020. Sixth, we studied the trade-offs of the central bank when the degree of flexibility in the economy increases. We found that in a more flexible economy the trade-offs the central banks face improve. This means that the central bank can achieve less volatility of inflation and output by applying the same interest rate policies in a flexible economy as compared to a more rigid economy. There are, however, diminishing returns to this effect, i.e. at some point more flexibility stops improving the trade-offs. Central bankers have a tendency to minimise their responsibility for stabilizing output by arguing that it is the responsibility of the political authorities to introduce structural reforms that will lead to a more flexible economy. This then will reduce the need for active stabilization policies. This point has often been made by policymakers at various national Central Banks and also at the European Central Bank. We have found that this argument is only half true. It is true that more flexibility makes it easier to stabilize the economy. At the same time, however, the responsibility of the central bank for stabilizing output remains a strong one. We have found that for different degrees of flexibility the central bank can reduce the power of animal spirits by active stabilization policies. This power is stronger in a rigid economy but does not disappear when the economy becomes more flexible. This research was published in the European Economic Review, 2020. Finally, we have developed for this research project a major critical and comprehensive assessment of the theoretical and empirical literatures on structural reforms and economic performance. The main contributions we make are as follows: (1) we put forward a simple conceptual framework centred on the possibility of a non-linear relationship between structural reforms and economic performance; (2) we review various mechanisms in the empirical and theoretical literature that support the non-linear relationship. The underlying mechanisms are either specific to labour, product and financial markets or generally related to the macroeconomic business cycle and the political economy dynamics of reforms; (3) we summarize the major problems and progress in the empirical literature on the causal effects of structural reforms; and (4) we identify various gaps in the literature and articulate them in a research agenda that we hope will influence the future development of this literature in important ways. This research is expected to be published in the Journal or Economic Literature. |
| Exploitation Route | Our results will be very useful for policymakers. For example, our results make clear that structural reforms that are not embedded in a policy aimed at stimulating the economy, especially during an economic downturn, will fail to produce the desired results. Our results also can act as a warning that structural reforms remain only temporarily in place as they are often overturned by political pressures. Our results will also be of interest for academic researchers. For example our theoretical contribution towards developing a behavioural macroeconomic model will help in better evaluating how structural reforms affect economic activity. We have developed a very large data base about structural reforms that will be available in a user-friendly way. This will help other researchers to study structural reforms. We have produced two books that collects the state-of-the-art research in the field. This has been and will be an invaluable resource for future researchers. |
| Sectors | Education,Financial Services, and Management Consultancy,Government, Democracy and Justice,Other |
| Description | Our research has led to significant impact in different ways. First, we organized two major conferences attracting the top researchers in the field, and two are in the pipeline. • First conference held on 8th May, 2017 in London on "Structural Reforms and European Integration". • Second conference held on 11th May, 2018 in London on "Structural Reforms in the European Union. • Third conference is planned for 23rd March 2020. • A third conference is planned for 30th March 2020. These conferences have allowed us not only to disseminate our research into a large network of scholars doing state-of-the-art research in the area of structural reforms and postgraduate students; it has also made it possible to create a permanent research network that allows us to strengthen the impact we have with our research on other professional economists and policy makers from different institutions such the European central banks, the IMF, the OECD and etc.. Second, we were successful in making major publications that will be points of references for researchers in the area of structural reforms and their impact on the economy. 1. Campos, N., De Grauwe, P., Ji, Y., The Political Economy of Structural Reforms in Europe, Oxford University Press, 2018 2. Campos, N., De Grauwe, P., Ji, Y., Structural Reforms and Economic Growth in Europe, Cambridge University Press, 2020 3. Campos, N., De Grauwe, P., Ji, Y., Structural Reforms, Growth and Inequality: An Overview of Theory, Measurement and Evidence, in Campos, N., De Grauwe, P., and Ji, Y., The Political Economy of Structural Reforms in Europe, Oxford University Press, 2018. 4. De Grauwe, P. and Ji, Y., (2020), Structural Reforms, Animal Spirits and Monetary Policies, European Economic Review, doi: https://doi.org/10.1016/j.euroecorev.2020.103395 5. Saka, O., Campos, N., De Grauwe, P., Ji, Y., Martelli, A., Financial Crises and Liberalization. Progress or Reversals, in Campos, N., De Grauwe, P., Ji, Y., Structural Reforms and Economic Growth in Europe, Cambridge University Press, 2020 6. Martelli, A., Campos, N., Ganslmeier, M., De Grauwe, P., Ji, Y., Saka, O., On the Complementarity between Labour Market Regulation and Tax Reforms in the European Union, in Campos, N., De Grauwe, P., Ji, Y., Structural Reforms and Economic Growth in Europe, Cambridge University Press, 2020. Another major publication is in the pipeline: 7. Campos, N., De Grauwe, P., Ji, Y., Structural Reforms and Economic Performance, Journal of Economic Literature, forthcoming. We expect that our findings will be valuable in the teaching of economics in structural reforms. Third, we published several blogs in VoxEU which is the most important outlet for economists to disseminate their research to a wider public including journalists and policy makers: 1. Campos, N., De Grauwe, P., Ji, Y., (2017), Reforms are too important to be left to reformers, VoxEU, https://voxeu.org/article/reforms-are-too-important-be-left-reformers 2. De Grauwe, P., and Ji, (2017), Behavioural economics is also useful in macroeconomics, VoxEU, https://voxeu.org/article/behavioural-economics-also-useful-macroeconomics 3. Saka, O., Campos, N., De Grauwe, P., Ji, Y., Martelli, A., (2019), Financial crises and the dynamics of financial de-liberalization, VoxEU, https://voxeu.org/article/financial-crises-and-dynamics-financial-de-liberalisation We encouraged researchers who participated in one of our two workshops to write accessible versions of their presentations and to publish those on well-known blog websites that attract attention from a wider public including journalists and policy makers. Examples are: 1. Furceri, D., and Jalles, J., (2020), The effect of structural reforms on public debt, LSE Business Review : https://blogs.lse.ac.uk/businessreview/2020/03/05/the-effect-of-structural-reforms-on-public-debt/ 2. Communale, M. and Mongelli, P., Euro area growth and European institutional reforms, https://blogs.lse.ac.uk/businessreview/2019/08/30/portugal-spain-and-italy-would-benefit-the-most-from-further-eu-institutional-integration/ 3. Egert, B., Regulation, institutions and economic growth in advanced, emerging and developing countries, https://blogs.lse.ac.uk/businessreview/2019/12/05/regulation-institutions-and-economic-growth/ 4. Saka, O., Campos, N., De Grauwe, P. Ji, Y., Martelli, A., Financial crises and liberalization: progress or reversals?, https://blogs.lse.ac.uk/businessreview/2019/07/03/crises-in-the-financial-markets-tend-to-bring-liberalisation-to-a-temporary-halt/ 5. Macchiarelli, C., Monatriotis, V., Lampropoulou, N., Transitions in the EU labour market before and after the crisis: the role of reforms, https://blogs.lse.ac.uk/businessreview/2019/10/14/labour-market-mobility-in-the-eu-before-and-after-the-crisis/ 6. Campos, N., Goulash labour market structural reforms: Hungary, 1986-2016, https://blogs.lse.ac.uk/businessreview/2019/11/11/goulash-reforms-tracking-thirty-years-of-labour-law-changes-in-hungary/ 7. McQuinn, K., and Varthalitis, P., How openness to trade rescued the Irish economy, https://blogs.lse.ac.uk/businessreview/2019/09/25/openness-to-trade-saved-the-irish-economy/ 8. Balázs Égert and Peter Gal, Quantifying structural reforms in OECD countries: a new framework, https://blogs.lse.ac.uk/businessreview/2018/06/18/quantifying-structural-reforms-in-oecd-countries-a-new-framework/ |
| First Year Of Impact | 2018 |
| Sector | Education,Government, Democracy and Justice |
| Impact Types | Policy & public services |
| Description | Bellagio group of academics and central bankers |
| Geographic Reach | Europe |
| Policy Influence Type | Membership of a guideline committee |
| Impact | The group undertakes analysis of how to improve the efficiency of the monetary policy at the national level and at the global levels. |
| URL | https://eml.berkeley.edu/~eichengr/bellagio/agenda.html |
| Description | Consultant Jobs Groups World Bank |
| Geographic Reach | Multiple continents/international |
| Policy Influence Type | Implementation circular/rapid advice/letter to e.g. Ministry of Health |
| Impact | Consultant on matters related to Labour Market Analyse of both developed and developing countries |
| Description | Invited by the European Trade Union Confederation Economic Policy Committee to present my views and suggestions on the European Commission proposal regarding the need for a European safe asset (i.e. the sovereign bond-backed securities). This engagement helps the confederation to define its positions on the policy developments of the European Commission. |
| Geographic Reach | Europe |
| Policy Influence Type | Participation in a guidance/advisory committee |
| Description | Policy Fellow for the Open Innovation Team (HM Treasury & UK Cabinet) |
| Geographic Reach | National |
| Policy Influence Type | Participation in a guidance/advisory committee |
| Impact | Working as a Policy Fellow on the Future of Work for the UK Cabinet/HM Treasury in their Open Innovation Team |
| Description | Portuguese Public Finance Council |
| Geographic Reach | Europe |
| Policy Influence Type | Participation in a guidance/advisory committee |
| Impact | I am the Vice president of the Portuguese Public Finance Council. The council gives advice on the sustainability of the fiscal policies in Portugal. This includes formulating advice on required structural reforms. |
| URL | http://www.cfp.pt/about-us/composition/board/?lang=en |
| Title | Financial Market Regulation Dataset |
| Description | The dataset combines comparative financial market regulation and financial crises datasets from various sources covering 195 countries between 1950 and 2017. The dataset will be made available soon on http://www.structural-reforms.eu/. |
| Type Of Material | Database/Collection of data |
| Year Produced | 2019 |
| Provided To Others? | No |
| Impact | The dataset was used for the empirical analysis of our papers. |
| URL | http://www.structural-reforms.eu/ |
| Title | Labour Market Regulation Dataset |
| Description | The dataset combines comparative labour market regulation datasets from various sources covering 162 countries between 1970 and 2016. The dataset will be made available soon on http://www.structural-reforms.eu/. |
| Type Of Material | Database/Collection of data |
| Year Produced | 2019 |
| Provided To Others? | No |
| Impact | Dataset was used for the empirical analysis of the papers. |
| URL | http://www.structural-reforms.eu/ |
| Title | NATLEX Reform Dataset |
| Description | The dataset consists of the Natlex dataset from International Labour Organization. It covers labour market reforms in 196 countries until 2018. Overall, the dataset contains 103,717 labour market reforms. The dataset will be made available soon on http://www.structural-reforms.eu/. In order to keep the database up-to-date, we have created a tutorial that enables users to scrape the database with R. The tutorial will be available on our website as well. |
| Type Of Material | Database/Collection of data |
| Year Produced | 2019 |
| Provided To Others? | No |
| Impact | Natlex database in panel format |
| URL | http://www.structural-reforms.eu/ |
| Title | Taxation Dataset |
| Description | The dataset combines comparative taxation policy datasets from various sources covering 196 countries between 1970 and 2018. The dataset will be made available soon on http://www.structural-reforms.eu/. |
| Type Of Material | Database/Collection of data |
| Year Produced | 2019 |
| Provided To Others? | No |
| Impact | The dataset was used for the empirical analysis of our papers. |
| URL | http://www.structural-reforms.eu/ |
| Title | Taxes in Europe Dataset |
| Description | The dataset describes the Taxes in Europe datasets (Version 2 and Version 3) from the European Commission. It covers tax reforms in all 28 EU member states between 2007 and 2019 for Version 3. Version 2 contains 1064 tax reforms, Version 3 contains 658 tax reforms. The dataset will be made available soon on http://www.structural-reforms.eu/. In order to keep the database up-to-date, we have created a tutorial that enables users to scrape the database with R. The tutorial will be available on our website as well. |
| Type Of Material | Database/Collection of data |
| Year Produced | 2019 |
| Provided To Others? | No |
| Impact | Taxes in Europe Dataset in panel format |
| URL | http://www.structural-reforms.eu/ |
| Title | UK labour law data |
| Description | Legal documents about the labour regulations and laws are massive. In order to identify relevant policy changes, country experts usually identify labour-related law changes manually. However, in order to make the identification of such laws more comparable across countries and speed up the identification process, we are using supervised and unsupervised NLP classification and clustering methods and apply them to the actual law texts. Under the usage of the Eurovoc thesaurus, we are able to to produce results across languages. As a final output, we are able to create a labour market reform dataset including (1) law title, (2) law text, (3) enforcement date, (4) abstract, amongst others. As a starting point for this exercise, we are using the laws of the United Kingdom. |
| Type Of Material | Data handling & control |
| Year Produced | 2019 |
| Provided To Others? | No |
| Impact | Legal documents about the labour regulations and laws are massive. In order to select these documents, huge amount of manual work is needed. In this project, we have experimented using the machine learning techniques to classify the UK legal documents into labor and non-labor laws. Although this is a very small step, we believe this can be used effectively in the future to classify legal documents at EU level. |
| Description | 1st IZA/World Bank/NJD Conference on Jobs and Development |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | 1st IZA/World Bank/NJD Conference on Jobs and Development, Bogota, Colombia |
| Year(s) Of Engagement Activity | 2018 |
| Description | 1st LSE Workshop on Political Economy of Turkey |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Schools |
| Results and Impact | I have co-organised a workshop titled "1st LSE Workshop on Political Economy of Turkey". The first workshop of its kind involved the presentations and discussions of 7 high-quality academic papers on the political economy of Turkey. Topics ranged from how armed conflict may benefit politically-connected firms to how political communication may polarise voter attitudes. The workshop brought together some of the most promising junior scholars working on issues related to Turkey and its political economy. As a point of pride in the economics profession, six out of seven speakers were female, coming from a diverse set of academic institutions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/1st-lse-workshop-political-economy-turkey |
| Description | Academic presentation at OECD Paris |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Academic presentation at OECD Paris Headquarters |
| Year(s) Of Engagement Activity | 2017 |
| Description | Academic presentation at UNU/MERIT Maastricht |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Academic presentation at UNU/MERIT Maastricht, The Netherlands |
| Year(s) Of Engagement Activity | 2017 |
| Description | American Economic Association Annual Meetings (Philadelphia) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Academic presentation at the American Economic Association Annual Meetings in Philadelphia |
| Year(s) Of Engagement Activity | 2018 |
| Description | American Economic Association Atlanta |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2019 |
| Description | Bank of Finland Helsinki |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | panel |
| Year(s) Of Engagement Activity | 2018 |
| Description | Belgian Macro Workshop 2017 Keynote invitation |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | I presented my research on structural reforms. The audience (mainly from the academia) were interested in the recent development and findings in the area. |
| Year(s) Of Engagement Activity | 2017 |
| Description | CEPS Brussels |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | panel |
| Year(s) Of Engagement Activity | 2018 |
| Description | Debate on the future of the euro at the Dutch Central Bank on 7 December, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | A debate on how to reform the Eurozone |
| Year(s) Of Engagement Activity | 2018 |
| Description | Delphi economic forum |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | On 2nd March, In Delphi (Greece), more than 200 people including policy makers, academics, business people from the private sectors attended the panel discussion on structural reforms in Europe. This activity sparked questions and discussion afterwards. I was also interviewed afterwards by the Greek media concerning the structural reforms and the impact on Greek economy. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.delphiforum.gr/speakers/paul-de-grauwe-0 |
| Description | Different interviews on Brexit, the Eurozone and international economic and financial affairs |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Corriera della Sera, Bloomberg Television, Publico (Portugal), De Standaard, De Morgen, Sky News, Wall Street Journal, Forbes (Japan), The Economist, De Morgen, Le Soir |
| Year(s) Of Engagement Activity | 2017,2018,2019 |
| Description | EUI Fiesole |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2018 |
| Description | EUI academic meeting |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Participation at workshop and meetings at the European University Institute, Fiesole, Italy |
| Year(s) Of Engagement Activity | 2017 |
| Description | European Central Bank conference on structural reforms |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | At this European Central Bank conference, more than 100 audience (policy makers, central bankers, financial market participants and professional economists) attended the presentation on "structural reforms in the Euro area". There were a lot of questions, debate, discussions concerning on the progress and the impact of structural reforms in the Euro area. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.ecb.europa.eu/pub/conferences/html/20171018_structural_reforms.en.html |
| Description | European Economic Association Koln |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2018 |
| Description | European Finance Association |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Schools |
| Results and Impact | I have presented a paper titled "Lending Cycles and Real Outcomes: Costs of Political Misalignment" |
| Year(s) Of Engagement Activity | 2018 |
| Description | European Investment Bank Luxembourg |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2018 |
| Description | European Public Choice Society - Rome |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2018 |
| Description | European Think Thanks Annual Conference (Colegio Carlo Alberto, Turin) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Presentation at the European Think Thanks Annual Conference |
| Year(s) Of Engagement Activity | 2017 |
| Description | German Economic Association Conference on Development Economics |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Schools |
| Results and Impact | I have presented a paper titled "Lending Cycles and Real Outcomes: Costs of Political Misalignment" |
| Year(s) Of Engagement Activity | 2018 |
| Description | Global Competition Law Center conference |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Contribution to the 13th GCLC Annual Conference on "Fairness in Competition Law & Policy: Significance and Implications". The feedback received from delegates so far has been excellent. |
| Year(s) Of Engagement Activity | 2017 |
| Description | IMF and Croatian National Bank Conference Dubrovnik |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | IMF and Croatian National Bank Conference Dubrovnik |
| Year(s) Of Engagement Activity | 2017 |
| Description | Invited speaker in a debate on Eurozone financial reforms organized by the Adenauer Foundation in Berlin, a political think tank in the network of the Christian Democratic Union of Germany |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | 20 economists or research official from the embassies, international organizations and universities attended this debate. Participants were well informed about policy discussions and implications. |
| Year(s) Of Engagement Activity | 2018 |
| Description | Keynote Lecture at INFER Conference, Paris, 19 October, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Presentation on how structural reforms affect the capacity of the central bank to stabilise the economy |
| Year(s) Of Engagement Activity | 2018 |
| Description | Keynote lecture at Spanish Applied Economists Annual Meeting, Alcala, Spain, 7-8 June, 2018 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Keynote presentation explaining the basics of behavioural macroeconomics with an application on the effects of structural reforms |
| Year(s) Of Engagement Activity | 2018 |
| Description | Keynote speech - Orleans University (France) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Keynote speech - Orleans University (France), European Economics Conference |
| Year(s) Of Engagement Activity | 2017 |
| Description | LSE Italian Forum 2018 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Held at LSE, in a conference spanning two evenings, through the interaction of high-profile speakers including civil society, academia, public and private sector, the LSE Italian Society aims to shed light on the issue of migration in Europe, and the way in which this multi-faceted notion can be better understood and captured in the public debate. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://lseitalians.co.uk/ |
| Description | Labour market institutions still matter for workforce equality in the knowledge economy |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | My coauthor and I were asked to write a blog article on our recent working paper. It has attracted a lot of attention and we were asked to participate in a number of panels and discussions afterwards. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://blogs.lse.ac.uk/europpblog/2018/01/09/labour-market-institutions-knowledge-economy/ |
| Description | Lecture and Seminar at the University of Lancaster, 6-7 November, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | I gave a general lecture on the Eurozone and how to reform it structurally and a seminar on structural reforms and monetary policies |
| Year(s) Of Engagement Activity | 2018 |
| Description | Lecture, CEPS Summer School on the European Central Bank in crisis times, Brussels, 8 September, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Lecture on how the ECB should operate during crisis times. |
| Year(s) Of Engagement Activity | 2018 |
| Description | Lectures on Behavioural Macroeconomics at Corvinus University of Budapest |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Schools |
| Results and Impact | A series of Lectures during 9-20 April 2018 aimed at conveying a new macroeconomic paradigm |
| Year(s) Of Engagement Activity | 2008 |
| Description | Lectures on Behavioural Macroeconomics at the University of Magdeburg, 10-14 September 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Schools |
| Results and Impact | A series of lectures for PhD students in Magdeburg, Dresden, Halle and Leipzig on behavioural macroeconomics |
| Year(s) Of Engagement Activity | 2018 |
| Description | OECD New Approaches to Economic Challenges (NAEC) Seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The seminar helps the OECD to understand the lessons of the financial crisis by looking at the shortcomings of economic analytical models and policies in order to improve our analysis and provide new policy tools and data to tackle today's economic challenges such as structural reforms. The seminars are a space to question traditional ideas and methods as well as challenge group-think and compartmentalised approaches. |
| Year(s) Of Engagement Activity | 2017 |
| Description | OECD Paris |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2018 |
| Description | Organizing workshop that promote research findings of the structural reform project -7 May 2017 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | We organized two workshops on structural reform, on 7 May 2017 and 11 May 2018. Participants included officials from the European commission, interested academics and students. We discussed the state of art in this research area and the policy implications. |
| Year(s) Of Engagement Activity | 2017,2018 |
| URL | http://www.structural-reforms.eu/ |
| Description | Panel debate, Emmanuel College, Cambridge University on Brexit and the future of the EU |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | A debate on how Brexit may affect the future of the European Union |
| Year(s) Of Engagement Activity | 2019 |
| Description | Participation in debate on the international economic and financial system, at Belgian National Bank, 11 January, 2019 |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Participation in the annual Bellagio group meeting, which is a group of central bankers and academic economists |
| Year(s) Of Engagement Activity | 2019 |
| Description | Political Economy of Finance Conference (University of Oxford) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Schools |
| Results and Impact | I have presented a paper titled "Lending Cycles and Real Outcomes: Costs of Political Misalignment" |
| Year(s) Of Engagement Activity | 2018 |
| Description | Presentation at EFTA./Brussels, the European Free Trade Association (EFTA) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Presentation at EFTA./Brussels, the European Free Trade Association |
| Year(s) Of Engagement Activity | 2017 |
| Description | Presentation at OCP Policy Center (Rabat, Morocco) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | OCP Policy Center (Rabat, Morocco) |
| Year(s) Of Engagement Activity | 2018 |
| Description | Presentation at a conference organised by the European Central Bank, 16-17 May, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | This was a presentation on the core-periphery relations within the Eurozone and how these relations evolve over time |
| Year(s) Of Engagement Activity | 2018 |
| Description | Presentation at the European Central Bank, Frankfurt |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Presentation at the European Central Bank, Frankfurt |
| Year(s) Of Engagement Activity | 2017 |
| Description | Presentation at the European Economic Association Annual Conference, Lisbon |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Presentation at the European Economic Association Annual Conference, Lisbon |
| Year(s) Of Engagement Activity | 2017 |
| Description | Presentation during Conference, "Bringing new thinking in psychology and social science into macroeconomic modelling", UK Treasury, London, 1 October, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Presentation on the basics of behavioural macroeconomics |
| Year(s) Of Engagement Activity | 2018 |
| Description | Presentation of my book "Limits of the Market", Luxembourg, 4 October, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Presentation on the different limits of the market system and what to do about it. |
| Year(s) Of Engagement Activity | 2018 |
| Description | Presentation of my book "Limits of the Market", The Hague, 10 October, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Presentation on how externalities affect the market system and what structural reforms are necessary to deal with this |
| Year(s) Of Engagement Activity | 2018 |
| Description | Presentation of paper "Structural Reforms in a Behavioural Macroeconomic Model" at Birkbeck College, London, 24 May, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Yuemei Ji and I presented our joint paper analysing how structural reforms affect the ability of the central bank to stabilise the economy |
| Year(s) Of Engagement Activity | 2018 |
| Description | Presentation of report of Portuguese Fiscal Council in Portuguese parliament, 5 February, 2019 |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Presentation and discussion of sustainability of Portuguese public debt in Portuguese parliament |
| Year(s) Of Engagement Activity | 2019 |
| Description | Recent Developments in Turkey's Economy |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Schools |
| Results and Impact | The currency turmoil that hit the Turkish lira in 2018 seems to have confirmed the difficult economic conditions ahead for the country. In addition to domestic worries, recent volatility in the world's financial markets poses new challenges to country's fragile capital flows. How will Turkish economy survive in the midst of rising global interest rates and political uncertainty at home? What are the necessary structural reforms to put the country back on a sustainable growth path in the long-run? What should be the European Union's position towards Turkey? Is Turkey on the road to an IMF bailout? Selin Sayek Böke and Sergei Guriev discussed these and other issues related to Turkey's economy in light of recent events. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/recent-developments-turkey%E2%80%99s-economy |
| Description | Reforms are too important to be left to reformers https://voxeu.org/article/reforms-are-too-important-be-left-reformers |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | VoxEU column Reforms are too important to be left to reformers https://voxeu.org/article/reforms-are-too-important-be-left-reformers |
| Year(s) Of Engagement Activity | 2018 |
| URL | https://voxeu.org/article/reforms-are-too-important-be-left-reformers |
| Description | Reinventing Convergence conference-European commission |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | The panels were composed of high-level experts from public administration, academia and policymaking (European Commission Vice-President and Commissioner,Prime Minister of Portugal, and Minister of Economy and Finance of Italy), combining a wealth of expertise and concrete experiences and success stories in promoting upwards convergence of living standards among EU Member States and ensuring economic resilience going forward. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://ec.europa.eu/epsc/events/reinventing-convergence-toward-resilient-economic-structures_en |
| Description | Royal Economic Society Conference |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Academic talk at RES annual conference |
| Year(s) Of Engagement Activity | 2018 |
| Description | Royal Economic Society Conference Brighton |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2018 |
| Description | Royal Economic Society Conference Warwick |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2019 |
| Description | Second ERMEES Macroeconomics Workshop |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Discussions on the current research on structural reforms. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Seminar at Bank of England |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Seminar at Bank of England |
| Year(s) Of Engagement Activity | 2017 |
| Description | Seminar at Universtiy College London |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Schools |
| Results and Impact | I have presented a paper titled "Lending Cycles and Real Outcomes: Costs of Political Misalignment" |
| Year(s) Of Engagement Activity | 2019 |
| Description | Seminar in Osnabrück |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | This seminar increased interest in the research and the studies of structural reforms and european integration. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Seminar on behavioural macroeconomic model in ESRI (Dublin) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | 30 people attended the seminar and they were interested in how behavioural macroeconomic models explain the economy and their policy implications. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.esri.ie/events/new-developments-in-behavioural-macroeconomics |
| Description | Seminar on the future of the euro at Central European University, Budapest, 17 April 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Schools |
| Results and Impact | The seminar explained the fragility of the Eurozone and how to reform it structurally |
| Year(s) Of Engagement Activity | 2008 |
| Description | Seminar presentation at G20 Technical Group Meeting (Hamburg) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Seminar presentation at G20 Technical Group Meeting (Preparatory Summit) |
| Year(s) Of Engagement Activity | 2017 |
| Description | Seminar presentation at OFCE on behavioural macroeconomics, Paris, 29 May, 2018 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | A presentation of how structural reforms affect the capacity of monetary authorities to stabilise the economy |
| Year(s) Of Engagement Activity | 2018 |
| Description | Seminar: Political lending cycles and real outcomes: Evidence from Turkey (LSE) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Other audiences |
| Results and Impact | It was an academic seminar on political lending cycles in Turkey and I received useful feedback from my colleagues. At the end of the seminar, possible paths for structural/institutional reform were discussed to mitigate the welfare losses related to politically-motivated bank lending in developing countries. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.lse.ac.uk/european-institute/europe-at-lse |
| Description | Seminar: Political lending cycles and real outcomes: Evidence from Turkey (Sabanci University) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other audiences |
| Results and Impact | It was an academic seminar (by invitation) on political lending cycles in Turkey and a great chance to get helpful feedback from the academics actually living there. At the end of the seminar, possible paths for structural/institutional reform were discussed to mitigate the welfare losses related to politically-motivated bank lending in developing countries. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://som.sabanciuniv.edu/en/research/seminars-and-conferences |
| Description | Slovakia Tatra Summit |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | panel |
| Year(s) Of Engagement Activity | 2018 |
| Description | Sorbonne Paris |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | talk |
| Year(s) Of Engagement Activity | 2018 |
| Description | The Future of Europe: Structural Reforms, Growth and Globalisation |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | three of the investigators of the project attended the workshop together with 20-30 participants. Several presentations were made which sparked questions and discussions concerning academic work and the policy issues related to structural reforms. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Workshop: New Perspectives on Political Economy of the Middle East (Oxford) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The workshop was composed of a series of academic paper presentations discussing the changing nature of the political economy in Middle East by illustrating various country case studies. Presentations examined a number of critical topics, including: Islam, finance and development; the political economy of oil; inequality, migration and conflict; the political economy of trade and macroeconomic policies; the economic effects of protest politics; and the political economy of reform in the Arab world. I have presented a paper on political lending cycles in Turkey and later got invited to contribute a chapter to a book on Crony Capitalism in the Middle East which is now forthcoming in Oxford University Press. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.qeh.ox.ac.uk/node/23978 |
| Description | appearance at Bloomberg Television, London |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Talk show on Bloomberg TV on the structural problems of the euro and how to reform it structurally. |
| Year(s) Of Engagement Activity | 2018 |
| Description | behavioural macroeconomics workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | About 20 people will attend the workshop related to the behavioural macroeconomics workshop. We use behavioural macroeconomic frame to understand the impact of issues such as structural reforms on the business cycle. Participants (presenter and discussant) are from European universities and research institutes. The workshop will be in late March and this is a first workshop which brings behavioural macroeconomist together that will bring new insights in understanding business cycles and different macroeconomic shocks. |
| Year(s) Of Engagement Activity | 2020 |
| Description | book launch event-11 october 2018 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | 30 people attended in the book launch event on "Structural Reforms and European Integration", which sparked questions and discussion afterwards. We received emails from participants indicating increased interest in this area. |
| Year(s) Of Engagement Activity | 2018 |
| Description | presentation on behavioural macroeconomics at the workshop at Bank of England, 15 January, 2019 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Presentation of my research in behavioural macroeconomics and structural reforms. |
| Year(s) Of Engagement Activity | 2019 |
| Description | project website |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | project website has been launched which contain information, outputs and work plan and findings of our project. This website is accessible to everyone. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.structural-reforms.eu/ |
| Description | publication on VOX EU |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The article that summaries the main idea of our findings on structural reforms was published on VOXEU. This is a major website that attract attention from economists and media. This article has 29,431 reads and has been retweeted more than 200 times in social media. It has been also published on the world economic forum website: https://www.weforum.org/agenda/2017/11/this-is-the-value-of-behavioural-economics-in-understanding-our-world |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://voxeu.org/article/behavioural-economics-also-useful-macroeconomics |
| Description | structural reform workshop and debate |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | About 30 people attended the workshop on the most recent development of the structural reform research. Participants (from European universities and research institutes, the OECD, the IMF and the ECB) discussed a lot of important issues related to the structural reforms. The two workshops in 2017 and 2018 have been highly regarded among the researchers in this area. The responses of the participants toward the workshops were very positive. |
| Year(s) Of Engagement Activity | 2017,2018 |
| URL | http://www.structural-reforms.eu/#service |
| Description | the series Economic Policy Talk in Vienna |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | The series Economic Policy Talk ("Wirtschaftspolitische Gespräche") is in cooperation with the Austrian Chamber of Commerce (WKO), a key player in the Austrian policy debate, and the University of St. Gallen with its policy center in Vienna (www.wpz-fgn.com). As a keynote speaker for the event, the talks address a broad audience of decision makers in politics, business, science and media to discuss timely policy problems. The organizers are interested in reform processes in other European countries that are of relevance and interest for policy initiatives in Austria. The events are hosted by the chamber of commerce, regularly attract over 100 distinguished guests and get considerable media attention. |
| Year(s) Of Engagement Activity | 2010,2017 |
| Description | third workshop on structural reforms and european integration |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | About 20-30 people will attend the workshop on the most recent development of the structural reform research in March 2020. Participants (from European universities and research institutes, eg OECD, the IMF and the ECB) will discuss a lot of important issues related to the structural reforms. The two workshops in 2017 and 2018 have been highly regarded among the researchers in this area. This year we will showcase the final results of our ESRC project. These results will also be highly relevant to the economic research paper that we plan to submit by the end of this year. We expect the workshop this year will generate fruitful discussions. |
| Year(s) Of Engagement Activity | 2019 |
| Description | workshop on structural reforms |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | We organized a workshop on "structural reforms and economic growth". A top researcher in this field was invited as keynote speaker and around 10 economists from academia, national central banks in Europe, European commission and the OECD presented their latest research. Some researchers from other British universities in this field also attended the workshop. Participants in this workshop benefit greatly from the activities concerning the latest important issues on structural reform research. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.lse.edu/europeanInstitute/events/Structural-Reforms-and-European-Integration.aspx |