Contiene artículos analíticos sobre la evolución de la economía europea, y las implicaciones para la política económica y la acción del BCE. También incluye previsiones medias anuales para el año en curso y el siguiente de los principales agregados macroeconómicos de la eurozona. Este trabajo se publica en SEFO y se divulga entre la Comisión Europea, el Parlamento Europeo y otras instituciones mediante la plataforma semanal en lengua inglesa Future is Blue.
Destacados
Artículo
Acting under uncertainty: The ECB’s shift toward discretionary monetary policy
Fecha:
julio 2026
On 11 June 2026, the ECB became the first major central bank to raise policy rates in
response to inflation pressures stemming from the war in the Middle East, reversing a
cut made one year earlier. The decision reflects a deliberate shift toward discretionary
policymaking, driven less by current data than by the risk that firms and households
begin embedding higher inflation into wages, prices, and contracts before evidence
emerges that inflation expectations have become de-anchored.
Artículo
The roots of Europe’s housing crisis: Why good intentions so often produce bad outcomes
Fecha:
julio 2026
Across Europe, real house prices have risen sharply since 1970 while housing completions per capita have fallen substantially in every major economy, reflecting a growing mismatch between demand and increasingly inelastic supply. The evidence points to restrictive planning systems and political incentives that constrain new housing supply, while showing that demand-side subsidies often raise prices rather than improve affordability.
Artículo
UK-EU relations: Brexit’s old trade-offs in a harsher world
Fecha:
julio 2026
Europe has rediscovered industrial policy. After years in which the phrase itself seemed to belong to another economic era, governments are once again talking about strategic sectors, supply chains, critical technologies, economic security and the need to compete in a much tougher global environment.
