Basque Economics Worldwide Leadership

En los últimos 15 años, Europa ha atravesado una auténtica montaña rusa de crisis que han puesto a prueba sus pilares económicos y políticos. Desde la gran crisis financiera de 2008 hasta la crisis de deuda soberana, pasando por la pandemia del COVID-19 y, finalmente, la guerra en Ucrania, el continente ha sido golpeado una y otra vez, y su capacidad de resistir y adaptarse ha quedado en entredicho. Aunque todas estas crisis han dejado cicatrices, es la última —la guerra en Ucrania— la que presenta el mayor desafío para la industria europea, poniendo en serio riesgo su supervivencia.

Welcome to the 16th edition of Newsletter Basque Macroeconomics 5.0 published by Web 2.0: Basque Economics Worldwide Leadership led by Joseba Madariaga Macroeconomics & Econometrics Professor PhD in Economics In the last 15 years, Europe has faced a rollercoaster of crises that have tested its economic and political foundations. From the great financial crisis of 2008 to the sovereign debt crisis, through the COVID-19 pandemic, and finally the war in Ukraine, the continent has been repeatedly hit, putting its resilience and adaptability to the test. Although all these crises have left scars, it is the latest one—the war in Ukraine—that presents the greatest challenge for European industry, seriously threatening its survival.

Welcome to the 16th edition of Newsletter Basque Macroeconomics 5.0 published by Web 2.0: Basque Economics Worldwide Leadership led by Joseba Madariaga Macroeconomics & Econometrics Professor PhD in Economics. In a political landscape where Donald Trump and Kamala Harris represent opposing views on almost every issue, there is one surprising area of agreement: economic protectionism. This apparent convergence of ideas between two such distinct political figures reflects a deeply rooted paradox in American society, which largely supports protectionist measures. Protectionism, a policy that seeks to impose barriers on international trade to protect the domestic economy, has gained ground in the American public debate in recent years, but its real effects and current relevance are questionable. Both Trump and Harris seem to share the belief that protectionism is key to revitalizing the U.S. economy, protecting jobs, and strengthening national security. This belief has resonated with the electorate, which often perceives globalization as a threat to economic and social well-being. However, this stance overlooks the current macroeconomic context and the true causes of the United States' economic problems. Based on two recent analyses of U.S. trade policy, we will argue that protectionism is the wrong answer to a misdiagnosed problem.

Welcome to the 15th edition of Newsletter Basque Macroeconomics 5.0 published by Web 2.0: Basque Economics Worldwide Leadership led by Joseba Madariaga Macroeconomics & Econometrics Professor PhD in Economics Mario Draghi is a name that evokes moments of great significance in recent European history. In 2012, when the euro was on the brink of collapse, Draghi famously declared, “Whatever it takes” as President of the European Central Bank (ECB). That simple statement, accompanied by extraordinary monetary policy measures, succeeded in preventing the collapse of the common currency and strengthening European cohesion during a time of crisis. Today, more than a decade later, Draghi returns to the stage, this time with a new report offering a critical diagnosis of European competitiveness and proposing a series of reforms to reposition Europe on the global stage. In my reflection, after reading this report, I find that while many of the issues it addresses are already known, the value of Draghi’s work lies in his ability to bring all these elements together in a thorough and well-structured analysis. However, as we will see throughout this article, the greatest challenge is not so much identifying the problems as it is implementing solutions within a fragmented and diverse European architecture.

Welcome to the 14th edition of Newsletter Basque Macroeconomics 5.0 published by @Basque Economics Worldwide Leadership. The latest issue of the IMF's Finance & Development (F&D) magazine discusses productivity through various articles. With permission from the authors, I will provide a brief summary of some of the key issues addressed in the text. Productivity is the engine driving economic growth and social well-being in the modern world. However, in recent decades, there has been a noticeable slowdown in productivity growth rates in many advanced economies, including the United States. This trend has raised concerns among economists and policymakers, as stagnant productivity threatens to halt global economic progress, increase inequality, and undermine social well-being. As economies struggle to adapt to new technological and social paradigms, it is essential to analyze the factors contributing to this slowdown and how technological innovations, such as artificial intelligence (AI) and remote work, might offer a way to revitalize growth. This article explores the factors behind the productivity slowdown, the impacts of market concentration and stalled innovation, and how new technologies and forms of work could offer a solution to restore global economic dynamism.