We scrutinize the role of capital flows for competitiveness in seven euro-area countries in the context of real convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include international capital markets. Capital flows are assumed to be...

Happiness is an aspiration of every human being, and can also be a measure of social progress. Yet can one say that citizens are happy? If they are not, what if anything can be done about it? (Helliwell, Layard, & Sachs, 2013, p. 3) Understanding cities and citizenship has become a common place...

The Portuguese economy has been characterised by modernisation sincethe post-war period. Lisbon and the Tagus Valley is a centre of thisprocess. Hence, this region faces a high demand for highly skilledlabour. This paper analyses rates of return on human capital in theregion of Lisbon and in the...