Standard economic models hold that exchange rates are influenced by fundamental variables such as relative money supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help predict changes in floating exchange rates u0097 that...

The paper proposes a multi-factor international asset pricing model in which the exchange rate is allowed to be co-determined by a risk factor imperfectly correlated to other priced risks in the economy. The significance of this factor can be established as long as one is able to observe a proxy...

We lay out an empirical and a theoretical model to analyze the effects of non-fundamental exchange rate volatility on economic activity and welfare. In the first part of the paper, the GARCH-SVARmodel is applied to measure empirically the effect of the conditional exogenous exchange rate...

1. The Eastern neighbouring countries (NCs) can be divided into two groups: one comprised of the countries where ENP’s benefits are (at least rhetorically) acknowledged (Georgia, Moldova, and Ukraine) and the other where the ENP is viewed with suspicion and where the Europeanisation drive is...

The briefing paper seeks to provide an overview of the political, economic and social costs and benefits for the neighbouring countries in adapting their policies in the areas suggested by the ENP as well as to highlight the main constraints and factors favourable to pursuit of ENP objectives in...

Pyrolysis technology has been assessed in this report based on an examination of the costs, the benefits, the barriers to market uptake, and the potential for EU funding to contribute to innovation and/or technology deployment. Given the benefits associated with the application of biochar to...