This study first assesses recent misalignments of the real effective exchange rate (REER) of the euro area and of the Harmonized Competitiveness Indicators (HCIs) of its main economies, based on a quarterly Behavioural Equilibrium Exchange Rate (BEER) model. Next, it draws a comparison with...

The recent years in the European Union are characterised by various initiatives on internationalisation of the State's powers of the EU Member States. This internationalisation can have different scenarios. The scenario that dominates currently pending legislation initiatives implements an...

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...

Commissioned by the Toronto Financial Services Alliance (TFSA), this report provides a high level comparison of the regulatory environment that impacts the financial services industry in some of the main jurisdictions based on relevant instrumental factors, responses to an online questionnaire...

This paper empirically tests an augmented gravity model of international trade, using four digits disaggregated data under the Harmonized System, in order to investigate the impact of AFTA to the volume and direction of intra and extra ASEAN trade of textiles and clothing. Several model...

Scotland will soon decide whether to remain part of the U.K. or become an independent nation. Should Scotland choose independence, it may try to join a formal currency union with the U.K. or the E.U. This article focuses on the risks small nations can face in a currency union, as told through...

“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...

Portuguese Abstract: No período recente as exportações brasileiras têm aumentado, assim como o grau de abertura da economia brasileira. O Brasil tem procurado diversificar os seus parceiros comerciais a fim de obter maior participação no comércio internacional. Este trabalho tem por...

Setting the objective: this article is aimed at examining theoretical topical issues related to modeling innovation development within the setting of the “knowledge economy”. Our new understanding of the role of three crucial institutional entities (the state, business, and science) leads us...

The paper discusses the differences among countries of the Eurozone which impede growth. The paper offers solutions aimed at encouraging economic convergence to a higher level of standard of living. Economic disparity throughout the region has increased due to the global financial crisis. A...