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Centre for Economic Policy Research
@cepr.org
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CEPR, established in 1983, is an independent, non‐partisan, pan‐European non‐profit organization. Its mission is to enhance the quality of policy decisions through providing policy‐relevant research, based soundly in economic theory.
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Centre for Economic Policy Research @cepr.org · Dec 14
go.bsky.app/FumzhXZ
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⏰Final reminder! Two more days to submit a paper for the 5th Finance and Productivity (FINPRO) Conference. This edition's theme: Corporate Finance and Productivity in Times of Geopolitical Fragmentation.
Deadline: 30 November
#EconSky #EconConf
cepr.org Centre for Economic Policy Research @cepr.org · Oct 17
📢 #CallForPapers - 5th Finance and Productivity (FINPRO) Conference: Corporate Finance and Productivity in Times of Geopolitical Fragmentation
Deadline: 30 November 2025
Both empirical and theoretical contributions are welcome.
cepr.org/events/5th-f...
#EconSky
Topics of Interest - Geopolitical fragmentation and other external shocks: impacts on firms’ tangible and intangible investments, operations, and productivity - Fiscal and financing constraints for firms and governments and their implications for resilient investment and capital reallocation - Innovative financing approaches for sustainable and resilient firm-level investment - Firm-level adaptation strategies for managing supply chain disruptions, resource constraints, and environmental risks - Financial instruments and policy frameworks supporting resilience, efficient capital allocation, and capacity to invest - The role of private sector engagement in resilient infrastructure deployment and productivity-enhancing investment. Organisation Program Committee: - Filippo di Mauro (CompNet) - Anne Oeking (IMF) - Kenichi Ueda (CARF - University of Tokyo and CEPR) - Andrea Caggese (UPF) - Ralph de Haas (EBRD, KU Leuven and CEPR) - Debora Revoltella (EIB) - Michael Koetter (IWH) Local Organisation (Tokyo): - Tomoko Katagiri (IMF) - CompNet Administration Team
November 28, 2025 at 12:51 PM
cepr.org
⏰Two more days to submit a paper for the 5th Bank of Italy, Bocconi University, EIEF and CEPR #Conference on Financial Stability and Regulation!
Deadline: 30 November
#EconSky #CallForPapers
cepr.org Centre for Economic Policy Research @cepr.org · 29d
📢 #CallForPapers - 5th Bank of Italy, Bocconi University, EIEF and CEPR Conference on Financial Stability and Regulation
Deadline: 30 November 2025
More information: cepr.org/events/5th-b...
#EconSky #EconConf
November 28, 2025 at 12:13 PM
cepr.org
📆 2 December @ 16:00 CET
The Fall 2025 VDEV/CEPR/BREAD series comes to a close with @fschilbach.bsky.social presenting "Not Learning from Others and Learning in the Household"
Moderator: Suanna Oh @pse.bsky.social
ow.ly/aUH450X49HB
#EconSky
November 28, 2025 at 12:06 PM
Reposted by Centre for Economic Policy Research
cepr.org
📢 #CallForPapers - 8th Summer #Conference on Financial Intermediation and Corporate Finance
Theoretical and empirical papers are invited. Submit by 6PM GMT, 15 February 2026.
cepr.org/events/8th-s...
#EconSky #EconConf
October 28, 2025 at 9:51 AM
Reposted by Centre for Economic Policy Research
voxeu.org
Stefano Corradin, Alessandro Fontana, @chriskubitza.bsky.social, & Angela Maddaloni find that over the past decade, the balance sheets of euro area insurers have become less liquid and more sensitive to market conditions.
cepr.org/voxeu/column...
#EconSky
Graph showing home bias in government and corporate bond portfolios of traditional life insurers. Home bias is computed as the share of holdings of an insurance sector’s domestic bonds relative to total government bond holdings. The countries are sorted by their average total exposure to government bonds. ‘Other euro area countries’ represents a weighted average, by asset size, of the home bias shares of all other euro area countries not shown separately. Over the past decade, euro area insurers have been challenged by the prolonged period of low interest rates until 2022 and climate-related risks, particularly for property and casualty insurers. This column shows that the balance sheets of euro area insurers have become less liquid and more sensitive to market conditions. However, insurers still rely heavily on holdings of sovereign bonds – particularly domestic ones – and tend to sell these assets to fund large claims after natural disasters. The capital markets union would promote diversified bond portfolios and likely mitigate these effects.
November 28, 2025 at 9:48 AM
Reposted by Centre for Economic Policy Research
voxeu.org
E Jakucionyte & S Singh show how housing market thickness (how many buyers & sellers are active) affects renovation incentives of Soviet-era apartments in Lithuania. In thick markets, homeowners are more likely to move before gaining the full benefits of renovating.
cepr.org/voxeu/column...
#EconSky
Map of Vilnius neighbourhoods and the share of Soviet-era apartment buildings. Improving the energy efficiency of buildings is central to Europe’s climate agenda. In Lithuania, most Soviet-era apartment blocks remain unrenovated despite decades of preferential loans and generous subsidies. This column shows how housing market thickness – how many buyers and sellers are simultaneously active – affects renovation incentives. In thick markets, homeowners are more likely to move before capturing the full benefits of renovating. Current subsidy rates are uniform across regions, falsely assuming renovation barriers are identical everywhere. Alternative policy instruments may be more cost-effective for thick markets.
November 28, 2025 at 9:42 AM
Reposted by Centre for Economic Policy Research
voxeu.org
Alexander Dück & Fabio Verona @suomenpankki.fi show that model uncertainty is the dominant constraint on systematic monetary policy design. Rules optimised across a wide range of models converge toward cautious and stable policy responses.
cepr.org/voxeu/column...
#EconSky
How should monetary policy be designed when no single model can be trusted and policymakers may care more about stabilising some frequencies of inflation and real activity than others? This column shows that rules optimised across a wide range of models converge toward cautious and stable policy responses. Differences in frequency-specific objectives play only a limited role, while model uncertainty overwhelmingly drives the design of systematic rules. Robustness across models therefore provides the central organising principle for monetary policy.
November 28, 2025 at 9:31 AM
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3 Dec @17:00 CET International Macro History Online Seminar #IMHOS ep. 103
🗣️ @cslapoint.bsky.social presents 'Housing is the Financial Cycle: Evidence from 100 years of Local Building Permits'
Chair: John Landon-Lane
✍️ cepr.org/events/inter...
#EconSky
November 27, 2025 at 3:05 PM
Reposted by Centre for Economic Policy Research
cepr.org
📢 #CallForPapers - European Research Workshop in International Trade 2026
We invite papers on topics related to international #trade, foreign direct investment, #migration, automation, and other issues related to #globalisation.
Deadline: 14 December
cepr.org/events/europ...
#EconSky #EconConf
October 8, 2025 at 9:51 AM
cepr.org
📢Final reminder! #CallForPapers - Conference on Public Policies for Innovation
ESRC, LBS, @fuqua.duke.edu & CEPR invite submissions for a #conference on Public Policies for Innovation at LBS on 19-20 March 2026.
cepr.org/events/confe...
Organisers: Paolo Surico & @danielpgross.bsky.social
#EconSky
November 27, 2025 at 10:03 AM
Reposted by Centre for Economic Policy Research
voxeu.org
Hans Gersbach, Paul Maxence Maunoir, & Kieran James Walsh introduce the 'trade benefit ratio', which captures the total economic loss a country's withdrawal from global trade would cause others relative to the self-inflicted loss.
cepr.org/voxeu/column...
#EconSky
Graphs of the trade benefit ratio for all sectors, only manufacturing and services, and only manufacturing. ‘ROE’ means Rest-of-EU, ‘LAA’ is a subset of Latin American economies, ‘EAA’ is a subset of East Asian economies, ‘AFR’ is a subset of African economies, and ‘ROW’ means Rest-of-World. ‘Only Manufacturing and Services’ excludes ISIC codes A and B (agriculture, forestry, fishing, and mining) from trade barriers, and ‘Only Manufacturing’ includes the C codes only. See Gersbach et al. (2025) for a full description of the countries, regions, and sectors.
November 27, 2025 at 9:10 AM
cepr.org
📢 #CallForPapers - 4th Bocconi-CEPR Finance Workshop - Asset Pricing
The Finance Department at Bocconi University, the BAFFI Centre & CEPR invite submissions for a workshop on asset pricing.
15 May 2026 | Milan
Deadline: 4 Jan 2026
cepr.org/events/4th-b...
@jasorensen.bsky.social
#EconSky #CEPR_AP
November 26, 2025 at 1:34 PM
Reposted by Centre for Economic Policy Research
kiel.institute
From keynotes and the Harms Prize ceremony to policy panels and cutting-edge research presentations—the Kiel–CEPR Geoeconomics Conference brought together an exceptional community in Paris.
🎥 All recordings are now available to watch on our YouTube 👉 youtube.com/playlist?lis...
November 25, 2025 at 2:21 PM
cepr.org
📢 #CallForPapers - 4th CEPR Workshop on Media, Technology, Politics, and Society
In-person at EIEF in Rome on 25-26 June.
Deadline: 31 January 2026
cepr.org/events/4th-c...
@rafaeljjd.bsky.social @alexeymakarin.bsky.social @andreaprat.bsky.social @fsobbrio.bsky.social
#EconSky
November 25, 2025 at 10:55 AM
Reposted by Centre for Economic Policy Research
voxeu.org
Maarten Bosker, Else-Marie van den Herik, Paul Pelzl, & Steven Poelhekke study Indonesia's 2014 ban on nickel and bauxite exports and show that export bans must be accompanied by a swift increase in domestic processing capacity to be effective.
cepr.org/voxeu/column...
#EconSky
Graph of active Indonesian export restrictions on industrial raw materials by reason from 2009 to 2023. ‘Promote downstream industry’ denotes an active export-restricted industrial raw material that lists as a reason at least one of ‘Promote further processing / value added’ and ‘Protect local downstream industry’. Besides ‘Other’, reasons could include ‘Control of illegal mining activity’, ‘Product is strategic for the economy’, ‘Generate revenue’, and ‘Control of foreign exchange’. Export restrictions on industrial raw materials are increasingly used by developing economies to climb value chains. This column explores whether Indonesia’s 2014 ban on nickel and bauxite exports, which aimed to spur domestic processing and job creation, succeeded in promoting local economic development. Nickel districts saw a sustained rise in employment, especially in manufacturing and service, while bauxite districts faced employment losses. Export bans must be accompanied by a swift increase in domestic processing capacity, and policymakers must carefully consider commodity-specific factors.
November 25, 2025 at 8:45 AM
Reposted by Centre for Economic Policy Research
voxeu.org
Jon Danielsson (LSE) argues that while AI enhances the financial system's efficiency, it also poses new, poorly understood risks. Supervisory authorities must develop their own AI capabilities to keep pace.
cepr.org/voxeu/column...
#EconSky
Artificial intelligence is transforming finance faster than the authorities can adapt. This column argues that while AI enhances the financial system’s efficiency, it also poses new, poorly understood risks. To stay relevant, the supervisory authorities must develop their own AI capabilities, use federated learning for cross-jurisdiction models, and design intervention facilities that can respond at machine speed. If they cannot keep pace, the consequences will be ineffective supervision and a higher risk of financial crisis.
November 25, 2025 at 8:43 AM
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CEPR Discussion Papers Week Ending 23/11/2025 -

mailchi.mp/cepr/cepr-di...
CEPR Discussion Papers Week Ending 23/11/2025 - https://mailchi.mp/cepr/cepr-discussion-papers-week-ending-13568871
November 24, 2025 at 3:54 PM
Reposted by Centre for Economic Policy Research
voxeu.org
Maarten Verwey, Christos Axioglou, & Gábor Márk Pellényi (@ec.europa.eu) review the EU Commission's Autumn 2025 Forecast and argue that while trade policy uncertainty has decreased, the war in Ukraine and persistent geopolitical tensions cloud the outlook.
cepr.org/voxeu/column...
#EconSky
Graph of real GDP growth in member states between 2019-2024. Countries are ordered by proximity to the war, based on their average distance to Kyiv and Moscow. The EU economy grew stronger than expected in recent quarters and all member states are set to return to growth in 2025. Modest but steady economic growth is expected to continue in 2026 and 2027, supported by a robust labour market, decreasing inflation and improving financing conditions. Although the conclusion of the EU-US trade deal in the summer reduced trade policy uncertainty, weaker global growth and persistent geopolitical tensions cloud the outlook. As this column argues, the proximity to Russia’s protracted war of aggression against Ukraine has been weighing on the economic performance of the EU, especially in member states closest to the conflict, while necessitating a unified strengthening of EU defence capabilities and financial support to Ukraine.
November 24, 2025 at 2:52 PM
Reposted by Centre for Economic Policy Research
voxeu.org
Alan Auerbach & William Gale argue that after incorporating the One Big Beautiful Bill Act, debt-to-GDP is projected to rise to 183% by 2054, under conservative assumptions. Without a return to fiscal responsibility, adjustment will likely involve an external shock.
cepr.org/voxeu/column...
#EconSky
Graph of US publicly held debt as a percent of GDP. There is now widespread concern that the US faces an unsustainable fiscal future under current policies. The rise in the debt-to-GDP ratio since 2001 can be explained by responses to the Global Crisis and Covid-19 pandemic, as well as tax cuts and discretionary spending increases. This column argues that after incorporating the One Big Beautiful Bill Act, debt-to-GDP is projected to rise to 183% by 2054, under conservative assumptions. Without a return to an earlier period of fiscal responsibility, adjustment in US fiscal policy will likely involve some external shock that forces changes in policy.
November 24, 2025 at 10:27 AM
Reposted by Centre for Economic Policy Research
voxeu.org
Financial fragmentation can undermine European bond market stability by amplifying the sensitivity of both sovereign and corporate credit markets to global risk shocks.
Benjamin Mosk & Nander de Vette
cepr.org/voxeu/column...
#EconSky
Source: Bloomberg L.P., authors’ calculations. Note: weekly data, Aug. 2007-Aug. 2024, reflecting Bloomberg’s illiquidity indices. As European governments scale up investment, bond market stability is more critical than ever. This column shows that financial fragmentation can undermine that stability by amplifying the sensitivity of both sovereign and corporate credit markets to global risk shocks. Crucially, this vulnerability affects jurisdictions across the euro area.
November 24, 2025 at 10:23 AM
Reposted by Centre for Economic Policy Research
voxeu.org
AI fundamentally alters the balance between formal credentials and verified experience in labour markets. @eduardoyeyati.bsky.social‬ reviews employment record systems from 8 countries to establish design principles and draw lessons from implementation failures.
cepr.org/voxeu/column...
#EconSky
The rise of AI fundamentally alters the balance between formal credentials and verified experience in labour markets, but without verified employment records, experience remains invisible. This column reviews employment record systems across eight advanced and emerging economies, as well as EU-level initiatives, to establish design principles and draw lessons from implementation failures. The analysis reveals that technical infrastructure alone does not guarantee success. Effective systems require aligned incentives, continuous stakeholder engagement, and careful sequencing.
November 24, 2025 at 10:16 AM
Reposted by Centre for Economic Policy Research
voxeu.org
Households can face serious financial consequences from a spouse's illness or death even in a comprehensive welfare state like Sweden. Renters and low-wealth households are hit the hardest.
@kmajlesi.bsky.social @elinmolin.bsky.social @pauroth.bsky.social
cepr.org/voxeu/column...
#EconSky
This figure presents estimates of the effect of a fatal health shock on adult children, by the homeownership status and income loss of the surviving parent. Panels A–D correspond to children of renters or homeowners, further distinguished by whether the deceased parent was the primary earner (smaller income loss) or the secondary earner (larger income loss). Effects on debt collection, social benefits, and labour income are estimated with 95% confidence intervals using the Callaway–Sant’Anna (2021) difference-in-differences method, controlling for 10-year age bins of the children. The reported coefficients are expressed as percentage impacts relative to the mean outcome one year prior to the event. Standard errors are clustered at the parent level. While many advanced economies shield their citizens from the most severe direct medical costs of illness, less is known about how households cope with income losses from a serious health event. This column shows that the financial consequences of a spouse’s illness or death can be severe, even in a comprehensive welfare state like Sweden. Defaults on unpaid debts, bills, and other financial commitments rise sharply after such shocks, with renters and low-wealth households hit the hardest. Both income and wealth access need to be considered to strengthen households’ financial resilience.
November 24, 2025 at 10:10 AM
cepr.org
The CEPR Virtual Industrial Organisation Seminar #VIOS Series continues on 26 November at 15:00 CET featuring Jiekai Zhang presenting: 'Environmental Impacts of Banning Vehicle Advertising'
Discussant: Charles Murry
More info and register: cepr.org/events/event...
#EconSky
November 21, 2025 at 2:35 PM
Reposted by Centre for Economic Policy Research
cepr.org
📢 #CallForPapers - International Seminar on Trade (ISoT) Second Edition
The Journal of International Economics, University of Geneva, World Bank, & CEPR invite submissions for the 2nd edition of the International Seminar on Trade.
Deadline: 11 January 2026
cepr.org/events/inter...
#EconSky
October 21, 2025 at 12:45 PM
cepr.org
📢 #CallForPapers - Women in Economic Theory Conference
May 15-16, 2026 @ LSE
Interested researchers are invited to submit papers for the conference, with a preference for completed papers.
Deadline: 14 December 2025
cepr.org/events/women...
#EconSky
Organisers: Mariagiovanna Baccara, Gilat Levy, Paula Onuchic, Anna Sanktjohanser
November 21, 2025 at 1:30 PM