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Enhancing the Preparedness and Readiness

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  • d'Artis Kancs

Abstract

The paper studies Europe's preparedness and readiness in the context of evolving multi-dimensional security challenges. Leveraging the newly augmented strategic readiness framework, we examine selected strategic readiness dimensions in Europe. To assess the impact of possible future systemic shocks on the European preparedness and readiness across threat and time horizons, we develop stress test scenarios aligned with the Strategic Foresight Analysis 2023 and Future Operating Environment 2024 of NATO and simulate preparedness and readiness using an empirically validated general equilibrium multi-sector model with ambiguity and risk. Stress-testing the European strategic readiness in scenarios of systemic shocks reveals an untapped potential that still needs to be unlocked.

Suggested Citation

  • d'Artis Kancs, 2024. "Enhancing the Preparedness and Readiness," EERI Research Paper Series EERI RP 2024/08, Economics and Econometrics Research Institute (EERI), Brussels.
    • Handle: RePEc:eei:rpaper:eeri_rp_2024_08
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    File URL: http://www.eeri.eu/documents/wp/EERI_RP_2024_08.pdf
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    References listed on IDEAS

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    1. d'Artis Kancs, 2024. "Uncertainty of supply chains: Risk and ambiguity," The World Economy, Wiley Blackwell, vol. 47(5), pages 2009-2033, May.
    2. Baqaee, David & Hinz, Julian & Moll, Benjamin & Schularick, Moritz & Teti, Feodora A. & Wanner, Joschka & Yang, Sihwan, 2024. "What if? The effects of a hard decoupling from China on the German economy," Kiel Policy Briefs 170, Kiel Institute for the World Economy (IfW Kiel).
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    JEL classification:

    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • H57 - Public Economics - - National Government Expenditures and Related Policies - - - Procurement
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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