This paper develops a Bayesian VAR model to identify three structural shocks driving the European gas market: demand, supply and inventory shocks. We document how gas price fluctuations have a heterogeneous pass-through to euro area prices depending on the underlying shock driving them. The...

Commuting shapes countless everyday-lives around the world, with dynamics varying from city to regional and cross regional level. Taking as reference the free-movement EU-28 area (plus Switzerland and Norway), the analysis considers a total sample of 195 NUTS2 regions over the decade 2007-2017...

We estimate a New Keynesian DSGE model for the Euro area under alternative descriptions of monetary policy (discretion, commitment or a simple rule) after allowing for Markov switching in policy-maker preferences and shock volatilities. This reveals that there have been several changes in...

The deployment of new broadband networks (NBNs) based on fiber-optic transmission technologies promises high gains in terms of productivity and economic growth, and has attracted subsidies worth billions from governments around the world in the form of various state aid programs. Yet, the...

We show that power generators responded largely in line with theory to the European Union (EU) Emission Trading System (ETS). In particular, between 2008 and 2018: (i) the qualitative response of the EU ETS allowance price to variations in both the gas and coal price—the two preeminent drivers...

The deployment of new broadband networks (NBNs) based on fiber-optic transmission technologies promises high gains in terms of productivity and economic growth, and has attracted subsidies worth billions from governments around the world in the form of various state aid programs. Yet, the...

Commuting shapes countless everyday-lives around the world, with dynamics varying from city to regional and cross regional level. Taking as reference the free-movement EU-28 area (plus Switzerland and Norway), the analysis considers a total sample of 195 NUTS2 regions over the decade 2007-2017...

This paper studies the relationship between lobbying, free emission allowance allocation and firm outcomes in the European Union Emissions Trading System (ETS). I draw on administrative data from the EU Transpareny Register (TR) and the European Union Transaction Log (EUTL), and construct a...

This paper is motivated by the implementation of the new banking supervision structure in the European Union (EU) and the possible conflict of interest between monetary policy and the supervision authority within the European Central Bank (ECB). The empirical analysis considers the relationship...

This paper provides the theoretical and operational framework for estimating past values of relevant time series starting from a (limited) information set. We consider a general approach that includes as special cases time series aggregation and temporal and/or spatial disaggregation problems....