There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...

The long-run determinants of euro area FDI to the United States during the period 1980-2001 are explained by employing the Tobin's Q-model of investment. By using the fixed effects panel estimator, stock market developments in the euro area countries - including a measure adjusted for economic...

Over the last decade the Czech Republic has had the lowest GDP growth of all the ten recently acceded Member States. However, its foreign balance has improved over the same period, as have the terms of trade. Although changing terms of trade can have a significant welfare effect, this often...

The paper examines the determinants of location choices of French multinational firms in eastern and western Europe. The sample includes 1,843 location choices in 19 countries over the years 1980-1999. The results suggest there might be important differences between the two regions of Europe...

With the development towards comprehensive and more sophisticated border control regimes, the problem of protection seekers’ access to EU territory has increasingly come into focus. Disorderly movement is presently the main avenue to safety in the EU, and human smugglers act as important...

The markets for bank accounts across the EU differ considerably among Member States, i.e. they are still fragmented along national lines and there is limited integration across different Member States. But even within national markets, there is evidence of major obstacles to consumer choice and...

This paper presents evidence for structural differences in economic growth dynamics between the current EU and the central- and eastern European accession countries. Two important results emerge from the analysis. First, accession countries have posted higher average growth and wider output...

u0093Bond Market Inflation Expectation and Longer-term Trends in Broad Monetary Growth and Inflation in Industrial Countries, 1880-2001u0094 by William G. Dewald, Professor of Economics Emeritus, Ohio State University and Former Director of Research, Federal Reserve Bank of St. Louis. Annual...