The question of the determinants of employment in innovative firms in Europe is analyzed. Weuse data from European Innovation Scoreboard that consider 36 countries in the period 2000-2019. Results show that the level of employment for innovative firms is positively associated with “Average...

For many reasons, payment systems are subject to strong network effects; one of those is the necessity of interoperability among participants. This is often accomplished via standard-setting organizations. The goal of the Single European Payments Area (SEPA) is to establish modern cross-boarder...

The effect of common currency on bilateral trade also called Rose effect has been examined extensively in past decade. There is a huge variance of results in primary research which drives a large debate. Using meta-analysis we exploit 51 studies and 3254 estimates of rose effect and provide...

This paper reviews the application of two-country Dynamic Stochastic General Equilibrium (DSGE) models in the case of the euro area. By employing a search strategy across Scopus and Web of Science databases, this review identifies "Key Papers" that develop, calibrate, or estimate DSGE models for...

This paper analyses the endogeneity of euro area total factor productivity and its role in business cycle amplification by estimating a medium-scale DSGE model with endogenous productivity mechanism on euro area data. In this framework, total factor productivity evolves endogenously as a...

This paper examines exchange rate pass-through in the euro area by accounting for the impact of exchange rate changes on exporting firms' market power, cost structure and competitiveness. An international oligopoly model where exporting firms simultaneously decide on their pricing and innovation...

This paper analyses the endogeneity of euro area total factor productivity and its role in business cycle amplification by estimating a medium-scale DSGE model with endogenous productivity mechanism on euro area data. In this framework, total factor productivity evolves endogenously as a...

We analyze the effect of a major central bank digital currency (CBDC) - the digital euro - on the payment industry to find remarkably heterogeneous effects. Stock prices of U.S. payment firms decrease, while stock prices of European payment firms increase in response to positive announcements on...