This paper focusses on the relation between external imbalances and domestic money and credit growth in the euro area. We compute money and credit overhang both for the euro area as a whole and for individual member countries. Our results show that both aggregate money and credit overhang have...

Even though overtime is a widely observed phenomenon, this paper argues against the view of overtime as a structural cost minimizing labour demand solution. A large part of the observed overtime can be explained by the volatility of demand and absenteeism.The paper''s main contribution is to...

This paper focuses on the relation between external imbalances and domestic money and credit growth in the euro area. We compute money and credit overhang both for the euro area as a whole and for individual member countries. Our results show that both aggregate money and credit overhang have...

In this paper we present data on flows in the labour market for the period 1980 - 2010, which have been constructed using various sources. The focus of our analysis is on four labour market states within the working age population of age 15 - 64: Employment, Unemployment, Not working and...

According to Dalton's Law it does not matter which side of the market is taxed. This holds for a model of the labour market as well. Nevertheless, it is often maintained that shifting the wedge from employers to employees has favourable effects on employment. That is, a shift from employers' to...