At DG ECFIN's Annual Research Conference held on 20 November, more than 80 participants from research and policy-making circles discussed the theme: "Fostering inclusive growth: inequality and fairness in integrated markets".
- financing policy | Economic and Monetary Union | economic policy | euro
- Brussels, Belgium
- Charlemagne Building, Rue de la Loi 170Charlemagne Building, Rue de la Loi 170, 1049 Brussels, Belgium
Professor Branko Milanović started the day with his distinguished ECFIN lecture in which he described the development of inequality over time. His renowned 'Elephant graph' showed how Western middle class incomes stagnated in the last three decades, in contrast to Western upper class and Chinese middle class incomes.
Three sessions addressed subsequently the tension between globalisation and inequality by looking at growth, employment, and structural reforms. For instance, Jonathan D. Ostry (IMF) argued that inequality leads to lower and less durable economic growth. Other discussions focused on how policy actions related to gender balance, minimum wages and labour market reforms can target inequality.
European Commissioner Pierre Moscovici concluded the conference by chairing a policy panel on the main theme. He stressed that although economic growth is back, it is insufficient to fight poverty and inequality, and that the EU should foster inclusive growth. In this respect, the panellists emphasised the importance of working conditions and of Europe's fight against tax evasion.
Distinguished ECFIN Lecture in honour of Sir Anthony B. Atkinson
Session I: Going together: growth and inclusion in globalised economies