This paper provides new estimates of Okun’s unemployment-output relationship in euro area countries between 1979 and 2019. We find our structural estimates are stable but substantially lower than the reduced-form estimates that tend to characterise the literature and that the responsiveness of...

This paper focuses on the impact of EU structural funds (SFs) on the GDP per capita of 183 European NUTS2 regions from 1990 to 2016. To allow for the endogeneity of funds allocation to regions, we estimate a bivariate structural panel VAR model, controlling for unobserved heterogeneity through a...

This dissertation is composed of three research papers that I have been working on during my doctoral studies in the "Doctoral Programme in Quantitative Economics and Finance" at the University of Konstanz. The three papers are empirical studies on time series analysis and empirical...

This paper aims to analyze the nexus between disaggregated public spending and GDP in the Euro Area for the period 1990-2010 at a disaggregated level, using a time series approach. We estimated this nexus for ten items of public spending according to the COFOG functional classification. Taking...

We investigate convergence in European price level, unit labor cost, income, and productivity data over the period of 1960-2006 using the non-linear time-varying coefficients factor model proposed by Phillips and Sul (2007). This approach is extremely flexible on order to model a large number of...