In this paper we examine the linkages between involvement into global value chains (GVCs) and the gender wage inequalities. We use merged wide-ranging Structure of Earning (SES) and World Input Output Database (WIOD) for the years 2002, 2006, 2010 and 2014, covering manufacturing industries of...

We assess the effectiveness of the forward guidance undertaken by European Central Bank using a standard medium-scale DSGE model à la Smets and Wouters (2007). Exploiting data on expectations from surveys, we show that incorporating expectations should be crucial in performance evaluation of...

In the paper we run an exhaustive study of the magnitude socio-economic exclusion which affects large parts of societies in European countries. Social and economic exclusion – alternatively called as deprivation – are widely recognized as symptoms of human poverty. This implies obstacles in...

This paper investigates which shocks drive asynchrony of business cycles in the euro area. Thereby, it unites two strands of literature, those on common features and on structural VAR analysis. In particular, we show that the presence of a common cycle implies collinearity of structural impulse...