European Union Member States share a common vision of how society should be organised, which is different from other parts of the world. This has come to be known as the European Social Model. According to the widely shared policy consensus in international organisations, one would expect that...

The transformation of the world economy over the past two decades has been manifesting itself in various forms. On the one hand, there is an increasing interdependence of the world economy, which is a manifestation of the depth of the globalization process, mainly thanks to the expansion of...

The efficiency of macroeconomic policies depends on adequate business cycle approximation. Given that potential output and the output gap (the difference between actual and potential output) are not directly observable, their values need to be estimated using alternative statistical, structural,...