This paper explores the importance of housing and mortgage market heterogeneity in 13 European countries for the transmission of monetary policy. We use a pooled VAR model which is estimated over the period 1995-2006 to generate impulse responses of key macroeconomic variables to a monetary...

The policy shift of the Structural Funds towards local authority networks constitutes an EU attempt to redirect local economic development policies towards the European level. This article reviews key EU documents on urban policy, outlines the organizational mode of networking initiatives and...

Convergence concerns poor economies catching up with rich ones. At issue is what happens to the cross-sectional distribution of economies, not whether a single economy tends towards its own steady state. It is the latter, however, that has preoccupied the traditional approach to convergence...

Convergence in per capita income turns on whether technological knowledge spillovers are global or local. Global spillovers favour convergence, while a geographically limited scope of knowledge diffusion can lead to regional clusters of countries with persistently different levels of income per...