This report offers a detailed documentation and assessment of the differences in real productive investment between the United States and EU countries, focusing especially on the period 2013-2019. The analysis is based on capital stock and gross fixed capital formation (GFCF) data taken from...

The COVID-19 shock hit firms hard, on average, but how did it hit in the distribution of firms, differently between the high-growth superstars and the firms that were already struggling to survive? This paper implements graphical techniques and quantile regression to analyse the effect of the...

We analyse how the COVID-19 crisis impacted firms' employment levels and digitalisation efforts differently depending on their pre-crisis productivity, digitalisation and growth performance. We match the EIB Investment Survey with firm-level financial statements from the ORBIS database for 27 EU...

We construct a new indicator of de facto financial integration in the EU. The resulting indicator is pro-cyclical as it evolves along the cyclical pattern of economic activity in the European Union. It is then appended to a set of relevant financial and macroeconomic variables, within a FAVAR...

European firms have increasingly invested in training of employees but differences across countries and types of firms remain - and the COVID-19 shock may have exacerbated them. This report analyses European firms' investment in training over the last six years examining trends, factors...

Does an increase in lending by multinational development banks affect the private lending activity in developing countries? We show that this is indeed the case using data on loans and investments by the European Investment Bank (EIB) in combination with data on syndicated loans. We find that a...