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Making sense of all that trumpery: trying to escape from Triffin’s dilemma?
Within its first two months, the new Trump administration has attacked US institutions, alienated trade partners and allies, decimated...

Karl Pichelmann
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The good hegemon has gone astray.
The Bureau conversations in February and March 2025 were devoted to the question how to navigate the geopolitical and global economic...

Karl Pichelmann
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Fasten your seatbelts: Trump 2.0 unleashed
The Bureau conversation discussed the outcome of the US presidential elections and the likely political and economic implications of...

Karl Pichelmann
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Policy Pivot, Rising Threats: The IMF World Economic Outlook
The Bureau conversation discussed the IMF World Economic Outlook released on October 22. In a nutshell, the global battle against...

Karl Pichelmann
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A new Rodrik Trilemma haunting the global economy?
The Bureau conversation discussed the spectre of a new trilemma haunting the world economy as put forward by Dani Rodrik in a recent...

Karl Pichelmann
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The revival of interventionist economic policies: a farewell to the neoliberal era?
The Bureau conversation examined the implications of the recent widespread embrace of industrial policies, tariffs, and subsidies, and...

Karl Pichelmann
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United in Diversity!?
Perennial tensions in the EU integration process. This lecture given at the University of Economics in Vienna offers a whirlwind tour of...

Karl Pichelmann
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The new EU fiscal framework: a typical compromise deal
The envisaged reform of the fiscal rules gives EU Member States greater independence on agreeing debt and deficit plans with the European...

Karl Pichelmann
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A perspective on labour market developments
A contribution (in German) to a book on social democratic positions and perspectives. Arbeitsmärkte im Spannungsfeld demographischer,...

Karl Pichelmann
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Devil takes the hindmost? A banking crisis déjà vu.
The Bureau conversation took up the current turmoil in the banking sector looking into the causes and origins of recent bank failures,...

Karl Pichelmann
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Settling for "a new macroeconomic normal"?
The Bureau conversation discussed the likely features of "a new macroeconomic normal" following the inflationary shock in the wake of the...

Karl Pichelmann
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Record low unemployment: a seismic shift in labour markets?
Participants in the Bureau conversation discussed recent developments in the labour market and medium-term prospects, with some...

Karl Pichelmann
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"Gear up for a loss of at least 5% in material consumption!"
The Bureau conversation centred around the contention of an inexorable decline in domestic material consumption possibilities in the...

Karl Pichelmann
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An inevitable recession ahead?
The first Bureau conversation after the summer break took the form of an economic tour d´horizon. The lead speaker alluded to the...

Karl Pichelmann
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The spectre of stagflation
Once again, the world economy is haunted by the spectre of stagflation – the possible return of simultaneous high inflation and...

Karl Pichelmann
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European integration and populism
EU institutions and policy settings have been prone to populist attack from both the purely economic and the more cultural ‘nativist...

Karl Pichelmann
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The economic consequences of Putin´s war
The conversation served to provide a quick interim assessment of the economic consequences of Putin´s war. Deploring the escalating human...

Karl Pichelmann
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Inflation expectations reconsidered: just stay calm?
The conversation was overshadowed by the events unfolding in the Ukraine being attacked by Russian military forces. While it is probably...

Karl Pichelmann
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Returning to a "new normal": Revising the EU fiscal rulebook
Starting from the freshly published Policy Brief by the Bureau´s Chief Economist, participants discussed possible contours of a revised...

Karl Pichelmann
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Income distribution and redistribution in the EU
These presentation slides, prepared for a lecture at the University of Economics in Vienna, provide (i) an overview of income...

Karl Pichelmann
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