frictions, deep habits in private and public consumption, investment adjustment costs, a constant …

fiscal costs of such reversals. We thereby integrate the country-specific information from the latest Ageing Report into a … additional pension reforms needed to contain the public debt pressures arising from population ageing and second the costs of … costs and could pose challenges for fiscal sustainability …

Macroeconomic costs of conflict are generally very large, with GDP per capita about 28 percent lower ten years after …

: (1) distribution expenses are large – they amount to over half of labor costs; (2) plants in the largest decile …, distribution costs as a share of sales declined by one third. We develop a model of heterogeneous manufacturing firms that rely on … share. In combination with the model, these trends suggest largescale decreases in both variable and fixed costs of …

We construct a Financial Conditions Index (FCI) for Greece as a surveillance tool to quantify the degree of the stress … (EA) as a whole and show that although the developments in the EA were qualitatively in line with those in Greece, they … were quantitatively much milder. Our results confirm that monetary transmission was less effective in Greece compared to …

Germany, Greece, Ireland, Italy, Spain and Portugal. The stability ofGermany is a close proxy for the resilience of the euro … to theirrelative importance in the region. Changes in Greece's sovereign CDS had no significant effect on Germany …