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The independent Annual Growth Survey (iAGS) offers an independent alternative analysis to the Annual Growth Survey (AGS) published by the European Commission. Each year the iAGS provides in-depth analyses of economic developments in the euro area and major EU countries.

The project addresses issues such as public finances, unemployment, and competitiveness imbalances, and formulates alternative and more efficient strategies that can move the economy towards balanced economic growth while maintaining price stability and full employment and preserving social progress. OFCE, the French Economic Observatory, is leading the project in association with IMK and ECLM from Denmark. Additional input is provided by other research institutes.

iAGS Report 2017

The elusive Recovery

The report recommends easing the burden on monetary policy by loosening fiscal policy, especially in Germany. The initiative of the EU Commission, wrongly criticized by Finance Minister Schäuble is a step in the right direction, but insufficient.
Other themes covered: addressing inequality, correcting macroeconomic imbalances and stabilising the financial sector.

download (pdf)

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IAGS 2016 Report

Give Recovery a chance

The crisis in Europe drags on. The recovery is fragile and deflationary pressures have not been overcome. There is a risk of longer-term damage if Europe does not lastingly boost public investment. This is one of the conclusions of the fourth independent Annual Growth Survey.

download (pdf)

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iAGS 2015 Report

The 2015 report discusses the dangers of deflation in the euro are; the increase in inequality and poverty; the fragmentation of the banking system and its effects on the ECB's monetary policy; an investment strategy for an environmentally sustainable EU and the unequal real exchange rate adjustment between the euro area members.

Download the report (pdf)

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iAGS 2014 Report

The 2014 report discusses the economic performance in different euro area countries; the risk of rising inequality in Europe; the role wage coordination can play to avoid deflation and a green new deal for Europe.

Download the report (pdf)
Download the executive summary (pdf)

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iAGS 2013 Report

The first independent Annual Growth Survey looks at the self-defeating austerity in the euro area; the social impact of the economic crisis; the relation between macroeconomic imbalances and the euro area crisis and possible alternative strategies for reducing public debt.

Download the report (pdf)
Download the executive summary (pdf)



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