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A green 'New Deal' to boost Europe

Listed author(s):
  • Xavier Timbeau

    ()

    (OFCE - OFCE - Sciences Po)

To exit the Great Recession and initiate the transition towards a low carbon economy, we propose a public-private investment plan in the energetic transition of about 2 points per year of European GDP. The key concept of this plan is the opportunity to reconsider the criteria for public finances using, as the goal of stability a concept of public debt net of created public assets (in percent of GDP), instead of gross public debt. An impartial body (eg the European Commission) could assess ex post and ex ante the value of investments, creating the incentives for coherent and effective public expenditure policies.

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File URL: https://hal-sciencespo.archives-ouvertes.fr/hal-00988414/document
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Paper provided by HAL in its series Post-Print with number hal-00988414.

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Date of creation: May 2014
Publication status: Published in Revue de l'OFCE - Debates and Policies, 2014, pp.221-229
Handle: RePEc:hal:journl:hal-00988414
Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-00988414
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

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