The planned liberalisation of European air transport has run up against the problem that there is little scope for further expansion of airport infrastructure. If liberalisation is to be a success, the available infrastructure will have to be used more intensively. This means introducing...

The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract their stimulus measures in an effort to regain market confidence. Using regime-switching VARs we...