The world has not yet begun to deleverage its crisis-linked borrowing. Global debt-to-GDP is breaking new highs in ways that hinder recovery in mature economies and threaten new crisis in emerging nations – especially China. The latest Geneva Report on the World Economy argues that the policy path to less volatile debt dynamics is a narrow one, and it is already clear that developed economies must expect prolonged low growth or another crisis along the way.

The researchers’ winning paper was titled "Social Motives and the Organization of Production: Experimental Evidence from Open Source Software".

We are delighted to welcome Sir Charlie Bean to the CEPR Board of Trustees. Sir Charlie brings a wealth of experience from public policy and academia to the CEPR Board chaired by Guillermo de la Dehesa.

The Polish Finance Minister Mateusz Szczurek has called for an EU-wide public investment programme to overcome the constraints behind Europe’s ‘secular stagnation’, in a recent VoxEU article.

Professor Portes president of CEPR, and Professor Weil, Chair of the Euro Area Business Cycle Dating Committee, address the need to restore and maintain the credibility of financial institutions across Europe by returning to economic growth, and how this can overcome the immediate and more latent problems faced by Europe in recent times.

Gregory Crawford will head the Industrial Organisation Programme alongside Andrea Prat from 1st September, replacing Marc Ivaldi who held the post since 2003.

The eBook, edited by Coen Teulings and Richard Baldwin, features contributions from leading economists. The book is available for immediate download.

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CEPR has been ranked number 2 on a list of top economics think tanks from across the world.

Charles Bean (left) was knighted in the Queen's Birthday Honours List, while Nicholas Crafts received a CBE.