It seems that the smaller Member States should not be very happy with the draft Constitution presented at the Thessaloniki European Council with respect to the three major issues discussed - the permanent President of the European Council, the size and composition of the Commission and the...

This thematic evaluation on Support to Economic Governance in Enlargement and Neighbourhood Countries has been carried out from January 2016through mid-2017. The global objective of the evaluation is to provide findings and recommendations to assist DG NEAR in streamlining its approach to...

The purpose of the evaluation is to provide a comprehensive and independent assessment of the European Union (EU)’s past and present cooperation in Ivory Coast, in order to draw key lessons and make recommendations for the future, including within the context of joint programming between the...

The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...

This paper examine differences between risk-neutral and objective probability densities of future interest rates. The identification and quantification of these differences are important when risk-neutral densities (RNDs), such as option-implied RNDs, are used as indicators of actual beliefs of...

Two seemingly unconnected empirical results suggest an intriguing mechanism. First, economic integration helps harmonize prices internationally, with trade being the primary channel (Rogoff 1996, Goldberg and Knetter 1997). Second, monetary union may greatly increase the amount of trade among...

Strukturen der allgemeinen und beruflichen Bildung und der Erwachsenenbildung in Europa Wer die allgemeine Organisation der Bildungssysteme in Europa kennen lernen möchte, findet die entsprechende Basisinformation in den ca. 40-Seiten umfassenden Länderberichten. Diese Monografien werden...

This paper uses data on German government bond futures options to examine the behaviour of market expectations around monetary policy actions of the European Central Bank (ECB). In particular, this paper focuses on the asymmetries in bond market expectations, as measured by the skewness of...