Working papers
Long-form papers with original research methodologies that lay academic foundations to address policy issues
Working papers
Unpacking China’s industrial policy and its implications for Europe
This paper assess how beneficial industrial policy has been for China and how exportable to the European Union its model might be
Using the financial system to enforce export controls
Russian imports of battlefield goods that are subject to export controls, including from Western producers, have surged since mid-2022
Economic arguments in favour of reducing copyright protection for generative AI inputs and outputs
The licensing of training inputs slows down economic growth compared to what it could be with competitive and high-quality GenAI
The rocky road to EU accession for Western Balkan countries: obstacles and lessons from the Eastern Partnership
The three eastern European states had practically no waiting time before being accepted as candidate countries right after application
Incorporating the impact of social investments and reforms in the European Union’s new fiscal framework
This paper proposes an approach for quantifying the impact of public investments and reforms on debt sustainability
Working paper
18 March 2013
The changing landscape of financial markets in Europe, the United States and Japan
We compare the structure of the financial sectors of the EU27, Japan and the United States, looking at a set of 23 indicators.
Working paper
06 February 2013
European antitrust control and standard setting
Standards reduce production costs and increase products’ value to consumers. Standards however entail risks of anti-competitive abuse...
Working paper
11 October 2012
The growth effects of EU cohesion policy: a meta-analysis
EU countries are converging. Regions in Europe are also converging. But, within countries, regional disparities are on the rise. There is no conclusiv
Working paper
04 October 2012
Working paper
30 July 2012
The simple macroeconomics of North and South in EMU
The euro area today consists of a competitive, moderately leveraged North and an uncompetitive, over-indebted South. Its main macroeconomic challenge
Working paper
12 July 2012
Productivity, labour cost and export adjustment: Detailed results for 24 EU countries
As a background document for the Policy Contribution ‘Compositional effects on productivity, labour cost and export adjustment’, this working paper pr
Working paper
03 July 2012
Paths to eurobonds
This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, s
Working paper
02 July 2012
The creation of euro area financial safety nets
This paper provides an overview of the recent financial stability mechanisms and their various shortcomings and tries to brush the outline of a more
Working paper
02 May 2012
Monetary transmission in three central European economies: evidence from time-varying coefficient vector autoregressions
This is a study of the transmission of monetary policy to macroeconomic variables with structural time-varying coefficient vector autoregressions in
Working paper
26 March 2012
Are banks affected by their holdings of government debt?
This Working Paper sheds light on the link between sovereign and banking risk in the euro zone. It provides an empirical analysis of the impact o
Working paper
15 March 2012
Real effective exchange rates for 178 countries: a new database
Using data on exchange rates and consumer price indices and a weighting matrix, we calculate up-to-date consumer price index-based REER (the real effe
Working paper
13 March 2012
The internationalisation path of the renminbi
This paper focuses on the internationalisation sequence of the renminbi, its meaning and its outlook. It is part of a broader work, which concentrate
Working paper
13 March 2012
The G20: characters in search of an author
The G20 has produced mixed results. After initial high hopes and some success, negotiations within the G20 forum have slowed, progress is less visibl
Working paper
06 February 2012
Corporate balance sheet adjustment: stylized facts, causes and consequences
We analyse corporate balance sheet adjustment episodes in Germany and Japan, as well as a sample of 30 countries, using national account data. A pan
Working paper
31 January 2012
The debt challenge in Europe
The euro area faces a double challenge: debt overhang and the need for price adjustment. This paper reviews the debt challenges in the household and c
Working paper
27 January 2012
Financial reform after the crisis: an early assessment
This paper takes stock of global efforts towards financial reform since the start of the financial crisis in 2007-08, and provides a synthetic (if s
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