We identify fiscal impulses in the EU New Member States using four different methods and apply econometric panel data techniques to determine what is the response of the output and its components to those impulses. We also directly test the effects of fiscal impulses on labour costs and...

This paper presents a broad set of empirical regularities about selection and market shares reallocation in manufacturing industries of France, Germany, UK and USA. We first disentangle the contribution to industry-level productivity growth of within-firm productivity changes and between-firms...

Using a difference-in-differences identification strategy on a micro panel at the bank and firm level, we study the transmission effectiveness of ECB’s large-scale asset purchasing programs programs (i.e. APP and PEPP) in the Euro area. Our findings show: first, balance sheet composition of...

In this paper we estimate the effects of financialization on physical investment in selected western European countries using panel data based on the balance-sheets of publicly listed non-financial companies (NFCs) supplied by Worldscope for the period 1995-2015. We find robust evidence of an...

This paper examines the impacts of the EU Emissions Trading System (ETS) on the environmental and economic performance of Norwegian plants. The ETS is regarded as the cornerstone climate policy in the EU and Norway, but there has been considerable debate regarding its effects due to low quota...

This study examines the influence of labour market conditions on corporate capital structure in a sample of 2,892 firms from France, Germany, Italy, Spain, and the UK. After considering the effect of unemployment and inflation, we analyse the impact of two market imperfections: employees’...

The global financial crisis has shown that money affects the real economy. This study examines the influence of the price and stock of money in the economy on capital structure throughout the business cycle during the last financial crisis, with particular focus on the roles of long- and...

We provide an evaluation of the impact of public subsidy schemes that aimed to support the development of basic broadband infrastructure in rural areas of Germany. Such subsidies are subject to state aid control by the European Commission (EC). While the EC increasingly recognises the role of...

We provide an evaluation of the impact of public subsidy schemes that aimed to support the development of basic broadband infrastructure in rural areas of Germany. Such subsidies are subject to state aid control by the European Commission (EC). While the EC increasingly recognises the role of...

This paper analyses the patterns of market selection in manufacturing industries of France, Germany, UK, and USA. We first disentangle the contribution to industry-level productivity growth of within-firm productivity changes and between-firm reallocation of shares. The evidence corroborates the...