Throughout Europe, the labour market integration of immigrants tends to lag behind that of natives. This paper empirically analyses the role played by integration policies in closing this gap in EU countries, not only directly, through the employment rate but also indirectly by influencing the...

This paper documents patterns of price setting at the retail level in the euro area, summarized in six stylized facts. First, the average euro area monthly frequency of price adjustment is 15 p.c., compared to about 25 p.c. in the US. Second, the frequency of price changes is characterized by...

I propose a discrete choice method for estimating monetary policy reaction functions based on research by Hu and Phillips (2004). This method distinguishes between determining the underlying desired rate which drives policy rate changes and actually implementing interest rate changes. The method...