Bruegel (institution)
Bruegel is a think tank devoted to policy research on economic issues. Based in Brussels, it launched its operations in 2005 and currently conducts research in five different focus areas with the aim of improving economic debate and policy-making.
Bruegel was recognised as the best international economics think tank worldwide and the second best think tank in the world, according to the 2019 Global Go To Think Tank Report.
It has a governance and funding model based on memberships from Member States of the European Union, international corporations, and other institutions.
History
Bruegel explains its name as a tribute to Pieter Bruegel, the 16th-century painter whose work epitomizes unvarnished and innovative depictions of life in Europe. It can also be read as a reference to a "Brussels European and Global Economic Laboratory", even though Bruegel does not consider its name to be an acronym. The think tank was initially co-founded by the economists Jean Pisani-Ferry and Nicolas Véron in 2002. It was officially endorsed by former French President Jacques Chirac and German Chancellor Gerhard Schröder at the 40th anniversary of the Elysée Treaty in January 2003.Former European Commissioner Mario Monti was instrumental in Bruegel's creation and became its first Chairman in early 2005, following the think tanks's legal creation as an International Non-Profit Association under Belgian law and its first Board election in 2004.
The Board was successively chaired by Mario Monti, Leszek Balcerowicz, and Jean Claude Trichet. Jean Pisani-Ferry was Bruegel's Director from January 2005 to April 2013 before being succeeded in his role by Guntram Wolff.
Bruegel moved to its current premises, on Rue de la Charité/Liefdadigheidsstraat 33 in central Brussels, in April 2005.
Research programme
Bruegel's research is divided into five broad research areas: European Macroeconomics & Governance, Global Economics & Governance, Finance & Financial Regulation, Innovation & Competition, and Energy & Climate. The research programme is reviewed every three years while the research priorities are developed on a yearly basis in the Fall by the Board after discussions with Bruegel scholars, members and other stakeholders.European Macroeconomics & Governance
The European Macroeconomics & Governance focus addresses issues relating to the European fiscal, economic, banking and political union. The theme covers topics which discuss how to reform European governance, address market tensions and adjust European macroeconomic policies.Global Economics & Governance
The Global Economic & Governance area examines the implications of the interactions between global and EU actors and studies for the international economy. It holds a particular focus on Asian developments, global governance, and the ties between the EU and major regional players.Finance & Financial Regulation
The Finance & Financial Regulation research area explores the developments of financial regulation, supervision and resolution on both the international and EU level. There is also an in-depth focus on the sovereign banking crisis in Europe as well as the movement to re-nationalize financial policy.Innovation & Competition
The Innovation & Competition section analyses the role of information technology, competition policy, entrepreneurship and technological innovations on economic performance and growth.Energy & Climate
The Energy & Climate focus contributes to the research on energy security, integrated energy markets, energy efficiency, decarbonisation of the economy, and research and innovation in these fields.Publications and events
Bruegel's scholars regularly publish their research through post on the think tank's . For more in-depth analysis of their research topics, they also release policy briefs, policy contributions, working papers and blueprints. They have presented testimonies at the European Parliament and various national parliaments.Bruegel also hosts events which gather experts, the public and various stakeholders for in-depth discussion on a range of policy issues. The events are often livestreamed with the video and audio recordings on Bruegel's website. In 2019, they hosted 77 events throughout the year and released 54 episodes of their podcast series "The Sound of Economics".
Governance and funding
Bruegel is supported by a wide array of members which contribute the bulk of its financial resources. The majority of its resources comes from state and corporate members.As of March 2017, Bruegel's membership consisted of three categories. State members are Member States of the European Union, which join on a voluntary basis, including Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Luxembourg, Malta, the Netherlands, Poland, Slovakia, Spain and Sweden. Corporate members are international corporations and firms, many of which are headquartered in the European Union. Institutional members include national and international public financial institutions as well as central banks.
Bruegel's board is elected for a three-year term by its members and consists of 11 individuals with backgrounds in government, business, academia and civil society. As of March 2017, its members were Jean-Claude Trichet, Karolina Ekholm, Jose Manuel Gonzalez-Paramo, Rachel Lomax, Isabelle Mateos Y Lago, Simone Mori, Elena Pisonero, Tuomas Saarenheimo, Jörg Kukies, Monika Marcinkowskaand and Alessandro Rivera. The board decides on Bruegel's research agenda, a process that is conducted on a yearly basis and includes in-depth consultation of all members. It also appoints the director and deputy director, and oversees Bruegel's financial management and budget. However, under Bruegel's statute and bylaws, neither the Board nor the members can interfere in research results and publication decisions‚ the responsibility for which remains with the director and individual scholars.
Awards and recognition
has repeatedly awarded Bruegel five stars out of five for transparency, including in 2018. Prospect Magazine Awarded Bruegel the European Economic Think Tank of the Year in 2015, 2016, 2017 and 2019.The 2019 Global Go To Think Tank Report, published by the University of Pennsylvania, ranked Bruegel as such:
- #1 top international economics policy think tank
- #1 think tank with outstanding policy-oriented research programs
- #2 best institutional collaboration involving two or more think tanks
- #1 think tank in the world
- #2 think tank in the world
- #3 best quality assurance and integrity policies and procedures
Organisation
The non-research staff is responsible for Bruegel's daily operations, development outreach, event coordination and communications.
The management team ensures the coordination of both research and non-research staff, and it is composed by Guntram Wolff, Maria Demertzis, Scarlett Varga, and Giuseppe Porcaro.