This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...

A two-country sticky-price model is used to analyse the interactions between fiscal and monetary policy. The role of an u0091activistu0092 fiscal policy as a stabilisation tool is considered and a measure of the welfare gains from international fiscal policy cooperation is derived. It is found...

The presence of a lower bound of zero on nominal interest rates has important implications for the conduct of optimal monetary policy. Standard rational expectations models can have alternative steady states as well as non-unique laws of motion, i.e. there can be possible sunspot equilibria....

We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...

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...

Globalisation is the stepping stone for plenty of articles, essays and papers on social transformation, as it is for this one. Of the many questions raised by globalisation, one that has attracted much attention lately, is how this so-called globalisation affects the national and international...

The European Year of Mobility 2006 recognises that geographic and job mobility raises flexibility in the labour market and may contribute to job growth in the European Union. It is frequently claimed that the European Employment Strategy focuses mainly on creating more jobs and less effort is...

This research aimed at investigating how the high level of observed job mobility relates to social stratification and social class. An obvious assumption would be that intensifying employment mobility has weakened social inequalities across a wide range of life prospects, and social class has...

This report begins by elaborating upon the different factors that appear to influence the degree to which people change employers. It then formulates a number of hypotheses regarding the influence of biographical characteristics, country characteristics, previous job mobility history, job...