This paper explores the importance of housing and mortgage market heterogeneity in 13 European countries for the transmission of monetary policy. We use a pooled VAR model which is estimated over the period 1995-2006 to generate impulse responses of key macroeconomic variables to a monetary...

Perfect consumption risk sharing requires both, frictionless goods as well as frictionless financial market integration. This project aims at analyzing the consequences of both type of frictions for the allocation of risk across countries in a unified framework. To this end, the theoretical...

We examine the impact of bank competition and institutional factors on net firm entry in a sample of European manufacturing industries over the 1995-2006 period. Taking into account industry differences in the need for external finance, we find that bank competition helps firm entry. In...

Motivated by the investor sentiment literature and assuming that terrorist activity influences investor mood the paper explores whether terrorism exerts a significant negative impact on daily stock market returns for a sample of 22 countries. The employed empirical specifications are based on...

Security as an objectively existing quality which can be discussed in innumerable ways, but it may hardly be ignored and its significance (let alone its existence) may hardly be doubted. Security is a fundamental human need which is a subject of our efforts for its satisfaction and its chronic...

This paper focuses on two areas of security concern for the European Union: terrorism and international crime. I present a model of game-theoretic interaction between a European state and a domestic dissident group, who, on occasion, may resort to acts of terrorism. Here, identity is crucial to...

This report assesses the literature on the inter-relations between the economy and security with particular focus on terrorism and the "human drivers of insecurity" to identify both available knowledge and crucial research gaps. In addition, the report surveys the European research capacity in...

The rapid and accelerating development of security economics has generated great demand for more and better data to accommodate the empirical research agenda. The present paper serves as a guide to policy makers and researchers for security-related databases. The paper focuses on two main...

This paper maps notions of insecurity and security policy within the European Union (EU), with a particular emphasis on terrorism and organised crime. The analysis reveals manifold and sometimes diverse dynamics with regard to threat perceptions and policy preferences of European political...