Traditional theory about international business suggests that companies first establish a solid home market and go global only in later stages of their life cycle. However, this view is challenged by research that shows that some firms internationalise quickly after start-up – so-called...

The first official data releases of quarterly real GDP for the euro area are published about eight weeks after the end of the reference quarters. Meanwhile, ongoing economic developments must be assessed from various, more readily available, monthly indicators. We examine in the context of...

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...

Supply and use tables and symmetric input-output tables are an integral part of the European System of Accounts (ESA 1995). The present Input-Output Manual discusses compilation issues and provides best practices and harmonised solutions. Its main objective is to assist statistical institutes in...

Prior to the recession of 2008/09 household saving was extremely low in the United States. In the context of the recession the saving rate has increased by about 2 percentage points to close to 4%. Such a rise is in line with the record from previous recessions. The study argues that, this time,...

This study provides a background for the preparation of the Broad Economic Policy Guidelines (BEPG) 2003 and assists the EP in putting forward recommendations in supply-side issues covered in the BEPGs. The report looks at investment, progress in opening markets, integration of financial...

The second Foundation paper focuses on improving access to employment, specifically for groups who are disadvantaged in the labour market.

We examine job flows in the 1990s for a sample of 13 European countries. By using a dataset of continuing firms that covers all sectors, we find firm characteristics to be important determinants of job flows, with smaller and younger firms within services typically having a larger degree of job...

We live in a service economy, but the extent of development of service employment differs across developed countries. This paper assesses the role of structural factors and institutions in explaining the common patterns and main differences in the recent expansion of service employment in OECD...