The global economic crisis has had a major impact on the economies of EU Member States, among other things, public sector budget deficits and public debt levels have risen dramatically. This has been reflected also on the budgets of the European Union (EU) that had become tighter and raise the...

The regional studies have shown that regional disparities within the countries appear to persist or even to grow. One of the most important indicators of the disparities is regional wage level. It is widely accepted that spatial effects have a different impact among sectors in developed...

This paper investigates the influence of international openness on economic growth in a sample of 32 European economies. The usual approach in the literature on the topic is to observe the impact of trade openness on growth. We, however, broaden this standard approach and analyse not only...

In 2008 the US financial crisis spilled over into a number of other economies causing declines in GDP across the world. Yet the decades preceding the current downturn had been a period of unprecedented stability for the US economy. This paper examines annual data for 98 countries over the period...

The decades preceding the recent financial crisis and global downturn were a period ofunusually mild output volatility for many developed and developing market economies. Weanalyse data from 85 countries and report findings consistent with the hypothesis that foreigndirect investment had a...

An American Economic Review article by Daniel Berger, William Easterly, Nathan Nunn, and Shanker Satyanath (2013), “Commercial Imperialism? Political Influence and Trade During the Cold War,” finds a strong effect of the CIA interventions on imports of U.S. products. I test their results for...

The trade effects of exchange rate variability have been an issue in international economics for the past 30 years. The contribution of this paper is to apply meta-regression analysis (MRA) to the empirical literature. On average, exchange rate variability exerts a negative effect on...

The decades preceding the outbreak of the financial crisis in August of 2007 were a period of exceptional stability for the US economy. A number of studies over the past decade proposed different theoretical rationales and underpinning empirical evidence to explain the so-called Great...

What determines the size of monetary policy effects on prices? This is one of the crucial questions for the efficient conduct of monetary policy; hence this study investigates this issue by exploring variations in the responsiveness of prices to a monetary policy shock across 46 developed and...