EconPol Forum Opinion Upcoming Events & Publications

The Industrial Accelerator Act, which the European Commission is set to unveil, is poised to be a landmark in EU industrial policy in early 2026. The current debate on the principle that should guide European public procurement seems to pit "Made in Europe" against "Made with Europe." Our latest publications and an imminent panel discussion at the Munich Security Conference address this very contrast, seeking to answer the following question: How can European industrial policy prioritize technological sovereignty while avoiding the distorting effects of protectionist measures? Openness – in innovation as well as in trade – is key. In this year's first newsletter, you will also learn more about inheritance taxation, alternative labor market statistics, and the impact of patience and institutions on lifelong learning. We will also examine the new US National Security Strategy and its meaning for Europe. Enjoy the read!

EconPol Forum 01/2026: Paving The Way for Tech Disruption – How to Rethink EU Industrial Policy The green transition, the race for artificial intelligence, and geostrategic concerns have sparked an increase in government intervention in the economy, with instruments ranging from substantial public subsidies to state-guaranteed loans. This shift marks a new era in industrial policy. Against this backdrop, Europe's pursuit of technological and digital sovereignty has become a strategic imperative. To succeed, the EU needs coordinated policymaking with clear objectives and rigorous market evaluations. The semiconductor sector offers a crucial lesson. While the EU Chips Act focused on legacy chip production, Europe’s true comparative advantage lies in designing and manufacturing machinery for chip production. To secure a competitive edge, the EU must prioritize supporting this sector while expanding access to global R&D hubs. This requires a strategy of diversifying partnerships, particularly with Asian economies, balancing autonomy with vital global collaboration.

Policy Debate of the Hour The New Era of Industrial Policy: Evidence and Implications Navigating Industrial Policy Europe’s Strategic Imperative: Industrial Policy for Technological Sovereignty A European Niche Strategy in the Global Chips War Self-Sustaining or Sustaining Cooperation? How Europe Can Ensure Access to Semiconductor Technologies More Chips, Anyone? Demand for Semiconductors in an Era of Active Industrial Policy

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Economic Policy and its Impact Inheritance Taxation in Europe: Long-Term Developments and Some Empirical Findings While relatively efficient, inheritance taxes face design challenges. Strengthening enforcement, closing loopholes, and improving public understanding are key to unlocking their potential for revenue and redistribution within a broader policy mix.   Read the latest issue of the German-language ifo Schnelldienst for a broader discussion on inheritance tax and possible reform paths.

Institutions Across the World Culture, Patience, and Lifelong Learning: How Institutional Design Can Support Continued Education Lifelong learning is essential for long-term economic development. Cultural traits affect individuals’ willingness to engage in continuous learning, but institutional frameworks can compensate for these differences by reducing the immediate costs of training. In this regard, Germany has a lot of catching up to do with its EU neighbors.

Big Data-Based Economic Insights Beyond Surveys: How Alternative Data Can Measure the Health of the Labor Market Public statistics are typically the primary source of labor market data. However, public data may reflect distortions arising from the surveys conducted, or – a scenario that is no longer negligible – be subject to political pressure. As Revelio Labs researchers show in this article, the private sector can provide a reliable alternative based on profiles and job postings from public portals, enabling policymakers, investors, and the public to validate public data and make better-informed decisions.

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What Does the New US National Security Strategy Mean for Europe? The US National Security Strategy, published in December 2025, contains passages on freedom of expression and democratic institutions which EU institutions and governments have considered to be interference in their internal affairs. However, as Clemens Fuest points out, the document contains important economic and political statements that deserve discussion. One above all: Europe's economic weight in the global economy has declined dramatically since 1990. To regain ground, Fuest says, we need more EU, not less. In this respect, however, the document suggests exactly the opposite.

ifo / EconPol Breakfast Discussion at the Munich Security Conference: “Paving the Way for Tech Disruption – How to Rethink Industrial Policy” fancyrosi studio, Munich | 13 February 2026 09:30 – 11:30 CET   It's almost time! Our official side event at the Munich Security Conference kicks off very soon. The debate will center on a European industrial policy that prioritizes innovation, strategic autonomy, and prosperity. We look forward to welcoming a panel of top-level speakers and engaging in a discussion with policymakers, established industry leaders, startups, and academics. Panel speakers include Svenja Falk (Accenture Research), Clemens Fuest (ifo Institute), Daniel Gros (Institute for European Policymaking at Bocconi University), and Fiona Murray (MIT Sloan & NATO Innovation Fund). Oliver Falck (ifo Institute & LMU) will introduce the discussion and Maithreyi Seetharaman will moderate the debate. Be sure to check out our social media channels and website for insights and photos from the event. Recordings will be available in the coming days.

Policy Brief 80: The Effectiveness of EU Export Bans on Military Goods   Why did Western technological components continue to fuel the Russian war machine for so long, despite unprecedented bans? One answer is that the EU did not fully tighten restrictions on the export of military-relevant goods until January 2024. However, that is only one side of the story. A new EconPol Policy Brief coming out in the next few weeks quantifies the amount of goods that reached Russia through indirect exports via third countries, primarily Turkey, China, Hong Kong, and the UAE. Imposing secondary sanctions on these key hubs at the beginning of 2024 has proven effective in curbing the substantial flow of indirect exports to Russia. Policy Report: The Global Europe 2.0 – The Economic Importance of New Trade Agreements for the EU   The critical importance of well-designed, objective-oriented trade measures for Europe is also addressed in a new Policy Report to be published at the end of February. The central question here is: What is the economic potential of expanding the EU's network of free trade agreements (FTAs) – such as the recently signed deals with India and the Mercosur countries? The study finds that the EU's GDP would grow significantly thanks to the increase in exports generated by FTAs, with gains concentrated in manufacturing and negligible effects in services and agriculture. Indeed, the varying sectoral impact of the agreements is crucial to understanding the EU's political struggle in adopting them, a topic that will be analyzed in depth in the report..

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