Inflexible labour markets combined with high welfare costs are often thought to be the main cause of low growth in Europe. This paper uses OECD data to assess the relative impact of regulation on differences in economic performance across countries since 1990. The impact of regulation is...

We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share....

Trade in services is often hampered by domestic administrative barriers, even when countries are members of the same regional trade agreement. We exploit a large reform in the European Union (the EU Service Directive) aimed at reducing such administrative hurdles in cross-border service...

Even though the industrial revolution started in Europe, many commentators suggest that European entrepreneurship has become an oxymoron. The facts of the case are, however, growing against them. For instance, Europeans nowadays run a fair share of Silicon Valley companies. Examples include...

This paper analyses the main characteristics of the European Socio-Economic Model. We discuss how the model varies across countries within Europe, examine how the model has changed over time and compare the European model with the corresponding US model. While the differences with regard of...