recent years, the dynamics of M3 in the euro area have been driven by two factors: a strong preference for liquidity, observed between 2001 and 2003, followed by a normalisation, at a relatively moderate pace, of portfolio behaviour; as regards the counterparts, changes in M3 and net external...

The objective of the paper is to investigate to what extent business cycles co-move in Germany, France and Italy. We use a large-scale database of non-stationary series for the euro area in order to assess the effect of common versus idiosyncratic shocks, as well as transitory versus permanent...

Since July 2003, the Banque de France has been using seasonally adjusted (SA) data for the monthly reporting of national monetary developments, with renewed statistical tools. Before the start of the single currency in 1999, the Banque de France already calculated seasonally adjusted data, using...

This paper discusses the supply conditions for economic growth in terms of potential GDP estimated by the production function approach for France, Germany and Italy for the 1986:2003 period. The aim of this study is twofold: first, we keep a consistent framework as regards national account...

In general, empirical studies having evaluated with firm individual data the effects of structural labour market reforms in European countries do not reach unambiguous conclusions. In particular, they find that reforms increasing incentives to lower the number of temporary labour contracts do...

This paper provides some new empirical features on price setting behaviour for French producers using micro data underlying the producer and business-services price indices over the period 1994-2005. Some crucial methodological issues on the collection of producer prices are raised. Then, the...

When treatments may occur at different points in time, most evaluation methods assume – implicitly or explicitly – that all the information used by subjects about the occurrence of a future treatment is available to the researcher. This is often called the “no anticipation” assumption....

This paper analyzes households' demand for time inputs to domestic services, modeling simultaneously the decision to purchase services in the market and the time spent on weekend and weekday days by each partner on routine household chores. By focusing on cleaning, laundry, and ironing, we...

This paper examines shareholder value drivers in European banking focusing on the efficiency and productivity features of individual banks. In particular, we analyse the value relevance of bank cost efficiency and total factor productivity (TFP) (in all its components, including technological...