Publications by Philipp Ständer

Disruptive Innovation: The prospects of a European Darpa

In his speech at the Sorbonne University in September Emmanuel Macron called for the creation of a new European "Agency for disruptive Innovation”. In a piece in Science Business, Paul-Jasper Dittrich and Philipp Ständer explore the potential structure and remit of such an agency. more

How would a European disruptive innovation agency look like

A European Agency for disruptive innovation

To promote Europe’s competitiveness in the digital President Macron proposed to establish a “European agency for disruptive innovation” in the vein of the US agency DARPA. In this blog post we assess the functioning of DARPA and argue that Europe currently lacks a comparable innovation policy tool. A European innovation agency could be used as industrial policy tool as well as for public procurement of innovative technology. more

Banking Union: How stable are Europe’s banks?

The euro crisis was, besides an economic and sovereign debt crisis, a full-blown banking crisis. The Banking Union was thus created precisely to break the vicious circle of ailing banks and weak government finances in the Eurozone. For the moment, it consists of a European banking supervision and a single resolution framework. But the project remains incomplete. How stable are Europe's banks almost eight years after the start of the euro crisis and what is in store for the Banking Union? more

Low interest rates: Is the ECB’s policy correct?

Since 2013, inflation in the euro area has been too low. In order to revive the economy and bring inflation back to target, the European Central Bank has implemented a low interest-rate policy which includes a bond-buying programme known as quantitative easing or QE. The ECB’s measures, including historically ultra-low interest rates, also bear risks. For example, some observers fear the formation of a bubble in real estate and stock markets or complain about one-sided capital gains for wealthy households. more

Venture Capital: How to harmonize national and EU measures?

The venture capital industry is an important catalyst for a thriving start-up ecosystem, but Europe’s VC market is still small and fragmented. In this paper Philipp Ständer assesses the policy toolbox of member states and EU institutions to promote VC investments and proposes two initiatives that would address the issue of market fragmentation. more