Traditional Taylor rules, which are estimated using a level specification linking the short-term interest rate to inflation and the output gap, are unstable when estimated on euro area data and forecast poorly out of sample. We present an alternative reaction function which takes the...

In the paper we propose a new methodological approach to core in- flation estimation, based on a frequency domain principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation measure is the scaled common persistent factor in...

Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long-run markup of prices over costs is fixed, but this may not be true for the Euro area economy, which has undergone major structural reforms over the last 25 years. We allow for...

This study developed a methodology to assess revealed personal consumer detriment that robustly measures and quantifies the incidence and magnitude of detriment at EU and national level, taking into account both pre- and post-redress financial detriment and non-financial detriment such as time...

This report reviews relevant knowledge and identifies issues for consideration in implementing the European Environment Agencyu0092s new mission to facilitate the dissemination of policy-relevant environmental scientific research. It begins by examining and analysing literature relating to...

Member States are permanently excluded. However, there remains a risk that France and Germany will use the idea of a core Europe to cajole others into accepting their demands. Such a strategy would be deeply divisive for the Union. Franco-German cooperation is welcome if u0096 and only if u0096...

The paper argues that the familiar pro-enlargement arguments deserve a critical examination. It investigates the impact of enlargement on British business; on the prospects for EU reform; and on the accession states themselves. From each perspective, the study finds that the supposed benefits of...

The object of this report is to present an outline on the central features of the private international law rules relating to matrimonial property in England and Wales. In the United Kingdom there are several distinct legal systems: England and Wales, (one legal territory, referred to hereafter...