This Paper identifies certain policy issues in the existing regulatory infrastructure of the Philippines which may prevent digital platforms in the Philippines from innovating and participating in the global digital economy. In brief, these policy issues relate to the incoherence between the...

Dominant or apparently dominant internet platform increasingly become subject to both antitrust investigations and further-reaching political calls for regulation. While Google is currently in the focus of the discussion, the next candidate is already on the horizon - the ubiquitous online...

We investigate what happens when the fiscal authorities do not react to rising public debt so that the unpleasant task of fiscal sustainability falls upon the Central Bank (CB). In particular, we explore whether the CB's bond purchases in the secondary market can restore stability and...

This study investigates the impact of digitalization measured by digital competitiveness ranking and digital competitiveness scores on the real economic growth of 63 countries over the period 2017-2021, the period pre and during the COVID-19 pandemic. By employing panel data regression models,...

We analyze the similarities and the differences in the fragility of the European Monetary system (EMS) and the Eurozone. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the foreign exchange markets while in the Eurozone it was...

"Race-to-the-bottom" deregulation is to be expected when markets operate across the borders of countries that independently choose and enforce labor policies. Less obviously, in pre-crisis EMU reforms of labor market policies were uneven and related to international imbalances. That pattern is...

The study investigates the business cycle dynamics in the euro area using an empirical framework which comprises common global and euro area shocks as well as allows bilateral spillovers of country-specific shocks across the member economies. Three core questions lie at the heart of the...

Building upon a Behavioural Equilibrium Exchange Rate (BEER) model, estimated at a quarterly frequency since 1999 on a broad sample of 57 countries, this paper assesses whether both the size and the persistence of real effective exchange rate misalignments from the levels implied by economic...

Collaboration is an important factor for regional economic growth. Still, the literature lacks explanations why some regions collaborate more or less than expected. The present paper proposes regional culture as influencing factor, being region-specific and connected to interactive activities....