Using six years of firm-level data covering 224 regions of the enlarged European Union, we evaluate the importance to a firm of locating its activities (production, headquarters, R&D, logistics and sales) close together. We find that, after controlling for regional characteristics, being closely...

This paper focuses on two aspects being neglected in the analysis of agglomeration tendencies so far. First, it regards regional agglomeration patterns and secondly, the allocation of capital across industrial sectors. Indeed, the average relative concentration of capital turns out to be of a...

This paper investigates interregional differences in cooperative behavior of manufacturing establishments in the field of research and development (R&D). The empirical analysis for eleven European regions reveals a number of significant differences between these regions in the propensity to...

We compare the labour market response to region-specific shocks in Europe and the US and to national shocks in Europe and investigate changes over time. We employ a multi-level factor model to decompose regional labour market variables and then estimate the dynamic response of the employment...

This paper focuses on two aspects being neglected in the analysis of agglomeration tendencies so far. First, it regards regional agglomeration patterns and secondly, the allocation of capital across industrial sectors. Indeed, the average relative concentration of capital turns out to be of a...

This chapter summarises selected tools for the regulation and supervision of managers and investment vehicles in Europe's real estate market. Defined by a debt or equity product and traded on a private or public market, real estate investments can be carried out in all four quadrants of the real...

The paper establishes stylised facts about residential and commercial property prices focusing on 12 European markets over the sample 1984-2013. Using the measure of dynamic correlation and cohesion we look at the medium and long-term dynamics in the real estate markets. We investigate how do...

We observe significant heterogeneity in the correlation between changes in house prices and the growth of small firms across certain countries in Europe. We find that, overall, the correlation is far greater in Southern Europe than in Northern Europe. Using a simple model, we show that this...