We quantify the effects of monetary policy transparency and credibility on macroeconomic volatility in an estimated model of the euro area economy. In our model, private agents are unable to distinguish between temporary shocks to the central bank’s monetary policy rule and persistent shifts...

We quantify the effects of monetary policy transparency and credibility on macroeconomic volatility in an estimated model of the Eurozone. In our model, private agents are unable to distinguish between temporary shocks to the central bank's monetary policy rule and persistent shifts in the...

We present a simple model of the determinants and economic effects of formal firm-level bargaining in a collective bargaining system with mandatory extension of sectoral collective agreements. We model the effects on agents' incentives to engage in relation-specific investments, and test the...

This paper analyses the long-run determinants of inflation differentials in a monetary union. First, we aim at establishing some stylized facts relating the regional dispersion in headline inflation rates in the euro area as well as in the main components of the consumer price index. We find...

This paper contributes to fill the gap between the literature on the determinants of firm survival and the theoretical and empirical works on the product life cycle (PLC). Using a representative sample of Spanish manufacturing firms with ten or more employees over the period 1991-2010, we...

The purpose of this report is to review a set of Integrated Urban Water Management (IUWM) initiatives and pilot studies funded by the World Bank’s Water Partnership Program (WPP) in Latin America and the Caribbean, Europe, and Central Asia and sub-Saharan Africa. The structure of this report...