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...

A number of authors have attemted to test whether the U.S. economy is in a determinate or an indeterminate equilibrium. We argue that to answer this question, one must be impose a priori restrictions on lag length that cannot be tested. We provide examples of two economic models. Model 1...

This paper analyses the information content of M1 for euro area real GDP since the beginning of the 1980s and reviews theoretical arguments on why real narrow money should help predict real GDP. We find that, unlike in the U.S., in the euro area, M1 has better and more robust forecasting...

The purpose of this quality report is to provide the users of the European Union Labour Market Statistics with a tool for assessing the quality of these statistics which are based on the European Union Labour Force Survey. It provides a brief description of the survey and a summary of the main...

The report summarizes the evaluation of the 2006 LFS (Labour Force Survey) ad hoc module on 'transition form work into retirement'. The main objective of this report is to assess the implementation of the ad hoc module 2006 and make recommendations for the repetition of the module in 2012. In...

The present report describes the main characteristics of the Labour Force Survey in then 25 Member States of the European Union, the four Candidate Countries and three Efta countries in 2006. All of the countries provide Eurostat with LFS micro-data for publication. The aim of this report is to...