DYNAMIC SCORING OF TAX REFORMS IN THE EUROPEAN UNION

In this paper, we present the first dynamic scoring exercise linking a microsimulation and a dynamic general equilibrium model for Europe. We illustrate our novel methodology analyzing hypothetical reforms of the social insurance contributions system in Belgium. Our approach takes into account the feedback effects resulting from adjustments and behavioral responses in the labor market and the economy‐wide reaction to the tax policy changes essential for a comprehensive evaluation of the reforms. We find that the self‐financing effect of a reduction in employers’ social insurance contribution is substantially larger than that of a comparable reduction in employees’ social insurance contributions.     

Is the erecting of barriers against foreign Sovereign Wealth Funds compatible with international investment law？

The impact of overseas investments by Sovereign Wealth Funds （SWFs） is increasingly causing alarm in destination countries. Many western governments show high concern with SWFs investing in some of their strategic economic sectors, such as energy or high technologies. Consequently, several of these governments have issued new domestic rules to control and even cancel investments operated by SWFs, or are about to do so. The aim of this work is to assess the compatibility of these new legislations with international investment law.     

Flexible modes of governance: Making CFSP and ESDP work

The European Union and the United States are on the verge of agreeing to a transatlantic free trade agreement. The proposed Transatlantic Trade and Investment Partnership is aimed at boosting EU and US economic growth, but the negotiating partners have not excluded the defence sector from negotiations. Europe is at a tipping point regarding the rationale for its defence-industrial integration efforts. Any TTIP extending to the defence sector will raise questions about the nature of the European Defence Technological and Industrial Base, and, crucially, how it impacts the North Atlantic Treaty Organisation and the Common Security and Defence Policy.     

Drivers and Dynamics of Internal and International Remittances

This article analyses whether and how intra-household remittance volumes vary with the length of a migrant's absence, and whether the drivers and dynamics of remittance decay depend on the migrant's destination. We address these questions by using data from the 64th round of the Indian National Sample Survey, conducted between July 2007 and June 2008. We find that the average intra-household remittance function follows a curvilinear trajectory that is best approximated by a quartic (M-shaped) specification. The volatility of intra-household remittances is distinct across migration destinations, with international remittance flows being more volatile than internal intra-state or inter-state flows.