The "new industrial organisation" enshrined in game theory has elaborated important concepts, models and typologies that reveal the richness of corporate conduct. To some extent, these developments have improved the quality of analyses in European antitrust policy. Three illustrations are...

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...

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...

We evaluate the Friedman-Schwartz hypothesis that a more accommodative monetary policy could have greatly reduced the severity of the Great Depression. To do this, we first estimate a dynamic, general equilibrium model using data from the 1920s and 1930s. Although the model includes eight...

Regional income and labour market disparities in Poland are characterised by three dimensions: the gap between the western and the eastern parts of the country, the privileged position of the capital region and rising differences between rural and urban regions. Disparities in labour markets are...

The global objective of this study is to assess the actions and initiatives in the field of civil protection in the Caribbean, in order to promote, enhance and reinforce regional cooperation between European Overseas Countries and Territories (OCTs), Outermost Regions (ORs) and the countries...

This Ex-post Evaluation Report has been prepared by the MWH Consortium between August and October 2005, and reflects the situation of the Phare assistance provided through the Sigma multi-beneficiary programmes between 1996 and 2004. It examines the performance of Sigma in addressing the...

The paper looks at the EUu0092s infrastructure after the latest enlargement round. It states that the new EU members have to narrow the distance to the u0091oldu0092 members in order to improve the competitiveness of their companies and the living conditions of the populace. At the same time,...