The Sound of Economics

With COP26 around the corner, Bruegel Director Guntram Wolff hosts Italy's Minister for Ecological Transition Roberto Cingolani. In this live episode they discuss what the Italy G20 Presidency would like to see from Glasgow: the need for adaptation and mitigation, adequate financing of the transition for the most vulnerable and the need to focus on measuring data and metrics. 

The pandemic and subsequent downturn have seen EU countries deploy unprecedented fiscal support, while the EU as a whole complemented this with an architectural innovation in the form of the Next Generation EU fund. As European economies begin to recover, is it time to return to pre-pandemic fiscal rules or is it time to reform them? If yes, then what should be changed and how? Bruegel’s Deputy director Maria Demertzis takes a deep dive with Senior fellow Zsolt Darvas and Rolf Strauch, Chief economist of European Stability Mechanism.

This episode is part of the ZhōngHuá Mundus series of The Sound of Economics. ZhōngHuá Mundus is a newsletter by Bruegel, bringing you monthly analysis of China in the world, as seen from Europe. Sign up now to receive it in your mailbox! The concept of “common prosperity” has deep roots in the Chinese Communist Party. It was already used in the 1950s and the late 1970s under different leaderships. On August 17 2021, President Xi Jinping highlighted this concept again, calling for China to achieve "common prosperity", seeking to narrow a yawning wealth gap that threatens the country's economic ascent and the legitimacy of Communist Party rule. Since then, there have been simultaneous crackdowns on business sectors and individuals, many of which fall under the umbrella of ‘common prosperity’. Why is this term being brought up again? Why now? What policies have followed? What does the regime want to achieve? Giuseppe Porcaro is joined by Bruegel Senior fellow Alicia García-Herrero and Minxin Pei, Professor of Government at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States to discuss.

Today, work is often segregated by gender -- with great ramifications for women across the world. Will increased use of technology decrease or increase current discrepancies? What can we do today in our schools and workplaces to help women in the future? Bruegel's own Giuseppe Porcaro spoke to Bruegel Research Fellow Laura Nurski and the Technical University of Vienna's Professor Sabine Theresia Köszegi about the future of work and gender. Together, they explore the contemporary challenges women face in the workplace, and the potential for solutions in the future. Want to learn more about gender and the future of work? In this podcast, Sabine recommends the UNESCO report "I'd blush if I could" closing gender divides in digital skills through education." You can also learn more about our Future of Work project at our website, https://www.bruegel.org/the-future-of-work-and-inclusive-growth-project/

Past crises and consolidation episodes have resulted in major public investment cuts. However, in order to meet the European Union’s climate goals, the additional public investment needed is between 0.5 percent and 1 percent of GDP annually during this decade. How does the EU grapple with just how far-reaching the economic implications of the green transition will be? In a paper presented at the recent ECOFIN in September, Bruegel Director Guntram Wolff and Senior fellow Zsolt Darvas advocate for a ‘green golden rule’, that exempts net green public investment from the debt and deficit rules of the Stability and Growth Pact. They explain more in detail with Yuyun Zhan in today’s episode. Read more: Darvas, Z. and G. Wolff (2021) ‘A green fiscal pact: climate investment in times of budget consolidation’, Policy Contribution 18/2021, Bruegel

Wholesale gas prices have reached record highs in the past months, leaving EU governments scrambling for emergency aid to help households cope with their rising bills. However, this is not only about energy: though its origins might be environmental, there are diplomatic, social and economic consequences for governments and citizens. And less than two months after the EU’s bold ‘Fit-for-55’ climate initiative, a gas crisis is threatening the EU’s green agenda. In this episode of The Sound of Economics, Giuseppe Porcaro hosts Bruegel scholars Simone Tagliapietra and Georg Zachmann on the back of their recent blog post on the price of electricity. Recommended readings: Rethinking the security of the European Union’s gas supply (2016) Is Europe’s gas and electricity price surge a one-off? (2021)

On 15 September Ursula von der Leyen, President of the European Commission, delivered the State of the Union address before the European Parliament. She took stock of efforts of the past year to tackle the COVID-19 pandemic and presented priorities for the year ahead, addressed the most pressing challenges and propose ideas for shaping the future of the EU, from NextGenerationEU to the European Green Deal and Europe’s Digital Decade. In this episode of The Sound of Economics Live, Giuseppe Porcaro hosts Grégory Claeys, Maria Demertzis and Alicia García-Herrero to evaluate the State of the Union address.

This episode is part of the ZhōngHuá Mundus series of The Sound of Economics. ZhōngHuá Mundus is a newsletter by Bruegel, bringing you monthly analysis of China in the world, as seen from Europe. Sign up now to receive it in your mailbox! As the largest global emitter of greenhouse gases, China is key to the success of the upcoming COP26 and the global effort for climate neutrality by the mid-century. Yet two months ahead of the Glasgow convention, China has yet to present a concrete policy path to become net-zero by 2060. Why is China taking so long to announce its carbon reduction plan? Giuseppe Porcaro hosts Bruegel China expert Alicia García-Herrero, climate economist Simone Tagliapietra and Dr. Michal Meidan, Director of the China Energy Research Program from the Oxford Institute for Energy Studies, to discuss climate, Chinese affairs and energy economics. 

The recovery plan gives Europe a chance to emerge stronger from the pandemic, transform the economy and create opportunities and jobs. It is important that those plans are implemented in a manner that is efficient, fair and sustainable. Bruegel Director Guntram Wolff hosts a conversation between Nadia Calviño, First Vice-President and Minister for Economy and Digitalization of Spain and Karolina Ekholm, Professor in Stockholm University and member of the Bruegel board on the state of play and outlook of the EU recovery fund. Listen in to learn more details on the Spanish programme and the risks and success factors of the recovery programme for the EU as a whole! 

Sustainable investing is gaining in popularity as socially conscious clients consider environmental, societal and governance (ESG) criteria when deciding on potential investment. As a result, the financial world is offering more ESG compatible products on the market. While well intentioned, the ability and capacity of ESG criteria in corporate disclosure to achieve climate and social goals is questionable. Bruegel Director Guntram Wolff hosts a debate between Tariq Fancy, the BlackRock executive turned ESG whistleblower, and Non-resident fellow Rebecca Christie, on whether sustainable investing will make the world a better place, and how it differs between North America and Europe. For more Bruegel research on sustainable finance, visit: https://www.bruegel.org/tag/sustainable-finance.  For Tariq Fancy’s essay, The Secret Diary of a ‘Sustainable Investor’, visit: https://medium.com/@sosofancy/the-secret-diary-of-a-sustainable-investor-part-1-70b6987fa139