This paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia. Announcements of interest rate cuts, liquidity support, liability...

This collection is a step towards updating Cedefop's work on professionalising career guidance since the publication of Professionalising career guidance: practitioner competences and qualification routes in Europe over 10 years ago. The current papers consist of diverse authored contributions...

There is an increasing shift of attention from expanding apprenticeships to improving their quality and effectiveness. This brings into focus how apprenticeship is governed for greater relevance and matching to labour market needs, and how the content of what is taught at the workplace is...

The 2008 financial crisis, followed by the COVID-19 pandemic, presented significant challenges - along with some opportunities - for apprenticeship systems and schemes across Europe, bringing into focus their resilience in times of crisis. These events, along with trends such as the green and...

This publication brings together the results of a call for papers on monitoring and evaluating career guidance systems and services, adopting the perspective of career development support to careers and learning. Experts were invited to provide insights into the current situation, with a focus...

This paper develops a political-economy model of the budget process focusing on the common pool problem of the public budget. We show that the externality arising from the fact that public spending tends to be targeted at individual groups in society while the tax burden is widely dispersed...

This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi-country Ricardian model of trade, based on the work of Eaton and Kortum (2002), into a macroeconomic model to show how bilateral real exchange rate volatility depends on relative technological...

We explore the role of business services in knowledge accumulation and growth and the determinants of knowledge diffusion including the role of distance. A continuous-time model is estimated on several European countries, Japan, and the United States. Policy simulations illustrate the benefits...