Decarbonisation is the reduction of carbon dioxide emissions using low carbon power sources, lowering output of greenhouse gasses into the atmosphere. This is essential to meet global temperature standards set by international climate agreements. To limit global warming to 1.5°C, hence avoiding the worst-case scenarios predicted by climate science, the world economy must rapidly reduce its emissions and reach climate neutrality within the next three decades. This will not be an easy journey. Shifting away from carbon-intensive production will require a historic transformation of the structure of our economies. Written by a team of academics linked to the European think tank Bruegel, The Macroeconomics of Decarbonisation provides a guide to the macroeconomic fundamentals of decarbonisation. It identifies the major economic transformations, both over the long- and short-run, and the roadblocks requiring policy intervention. It proposes a macroeconomic policy agenda for decarbonisation to achieve the climate goals of the international community.

Different driving factors of sovereign bond market integration are disentangled by studying yield co-movements of EMU countries, the UK, the US and 16 German Länder in the last 15 years. At a low frequency of weeks, bond market integration has increased gradually in the course of the last 15 years in EMU countries, as well as the UK, the US and the German Länder. The euro, as well as increasing international capital flows, appears to drive low frequency integration. In contrast, yield adjustments to changes of the German benchmark bond at high frequencies, i.e., 2 days, remain relatively low until October 2000, when a sharp increase in integration can be observed in all samples. The increase in high frequency integration can be attributed to electronic trading platforms becoming functional. The change-over from national currencies to the euro can not explain the dramatic increase in high-frequency integration.

This Blueprint offers an in-depth analysis of inequalities of income and wealth in the EU, as well as their causes and consequences. How evenly are the benefits of growth distributed in our economies, and what does this mean for fairness and social mobility? How could and should policymakers react?

Foreign direct investment is of increasing importance in the European Union.

Europa steht vor einer Zeitenwende: Welchen Weg will unser Kontinent gehen – technologisch, sozial, politisch und ökonomisch? Wie können wir ein erfolgreiches Beispiel für andere Teile der Welt geben? Welche Rolle wird Europa in einer künftigen Weltordnung übernehmen? Das sind Fragen, die für die Zukunft unserer Wirtschaft von ebenso großer Relevanz sind wie für die Politik. Der Bundesverband der Deutschen Industrie hat zahlreiche Persönlichkeiten aus Wissenschaft und Politik eingeladen, gemeinsam an einem neuen Leitbild für Europa mitzuarbeiten.