Periods of economic and financial stress traditionally give rise to profound changes in economic theory and in the way policy decisions are taken. Motivated by the recent interest in renewing macroeconomics after the global financial crisis, we collected the views of senior central bank staff in...

This paper uses the EAGLE, a multi-country dynamic general equilibrium model, to illustrate dynamic adjustments in a small open economy undergoing real convergence. We consider the effects of productivity catch-up and misperceptions about future productivity developments. Our results indicate...

This paper develops a small-scale DSGE model which embeds a demographic structure within a monetary policy framework. We extend the tractable, though non-monetary overlapping-generations model of Gertler (1999) and present a small synthesis model which combines the set-up of Gertler with a...

Dynamic stochastic general equilibrium models have recently become standard tools for policy-oriented analyses. Nevertheless, their forecasting properties are still barely explored. We fill this gap by comparing the quality of real-time forecasts from a richly-specified DSGE model to those from...

The EU strategy for waste management, adopted in 1989 and reviewed in 19961, refers to prevention, re-use and recovery, optimisation of final disposal, and regulation of transport as strategic guidelines for the management of waste in Europe. The document specifies that waste management should...

This paper presents an overview of administrative culture and practices for EPI in Europe, and investigates some of the main management styles used. It reviews institutional structures and practices in the EU-25, the candidate and applicant countries, the countries of the European Free Trade...

This paper presents an overview of administrative culture and practices for EPI in Europe, and investigates some of the main management styles used. It reviews institutional structures and practices in the EU-25, the candidate and applicant countries, the countries of the European Free Trade...