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This paper analyses the link between finance and growth by studying the effect that the process of financial deregulation and harmonisation of banking laws at the EU level has brought about on growth over the last 40 years. Our main findings point to the existence of a positive long-run growth...
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In 2006 the external net borrowing requirement of the Spanish economy was almost 8% of GDP, after having been in balance between 1993 and 1998. This increased borrowing requirement is the financial mirror image of a growth model, in which corporate and households' investments are generating an...
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Developments in Working Life in Europe 2014 is part of a series of annual reviews published by Eurofound and provides an overview of the latest developments in industrial relations and working conditions across the European Union and Norway. The Annual Review collates information based on...
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approach is the parameterisation of the information content regarding future income changes. In addition to the information … regarding time series properties of the historical development of labour income, consumers have also period-specific information … on future income realisations. Estimation results support the hypothesis that, although front-loaded, consumers have a …
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