Angana Banerji

Mr. Sergejs Saksonovs

Ms. Hannah Huidan Lin

Mr. Rodolphe Blavy

The SDN will assess the youth unemployment problem in advanced European countries, with a special focus on the euro area. It will document the main trends in youth and adult unemployment in 22 European countries before and after the global financial crisis. It will identify the main drivers of youth and adult unemployment, focusing in particular on the role of the business cycle and structural characteristics of the labor market. It will outline the main elements of a comprehensive strategy to address the problem.

Youth Unemployment in Advanced Economies in Europe: Searching for Solutions

Mr.Tidiane Kinda

Ms.Bergljot Barkbu

Mr.James John

Mr.Sergejs Saksonovs

Hanni Schoelermann

Mr.Tao Wu

The momentum for structural reforms is waning in the euro area at a time when even faster progress is needed to boost productivity and growth, achieve real economic convergence, and improve the resilience of the monetary union. What can the European Union (EU) institutions do to bridge this divide? This paper argues for greater simplicity, transparency and accountability in the EU governance framework for structural reforms. Our three interrelated proposals—“outcome-based” benchmarking; better use of existing EU processes to strengthen oversight and reduce discretion; and improved financial incentives—could help advance reforms. Ex post monitoring by an independent EU-level “structural council” and ex ante policy innovation by national productivity councils could strengthen accountability and ownership. Deeper governance reforms should be considered in the medium-term with a view toward a greater EU role in promoting convergence.

Incentivizing Structural Reforms in the Euro Area

Building a Better Union

Angana Banerji

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