Over the last 15 years, the evolution of labor costs has been very diverse across EMU countries. Since wages have important second-round effects on prices and competitiveness, and EMU countries do not have the tool of the nominal exchange rate to correct for such imbalances, understanding the...

This paper assesses the convergence in eco-efficiency of a group of 22 OECD countries over the period 1980–2008. In doing so, three air pollutants representing the impact on the environment of economic activities are considered, namely, carbon dioxide (<InlineEquation ID="IEq1"> <EquationSource Format="TEX">$${\text{ CO}}_{2}$$</EquationSource> </InlineEquation>), nitrogen oxides...</equationsource></inlineequation>

This paper analyzes the external solvency of a group of 23 OECD countries for the period 1970–2012. The empirical strategy adopted underlines the increasing importance of the financial channel for the external adjustment as proposed in Gourinchas and Rey (2007). We unify the traditional...

In this paper we present new evidence on the aggregate effect of the euro on trade using data for 26 OECD countries for the period 1967–2008. We strive to fill the gaps present in the previous literature through a second-generation panel cointegration tests and estimators that account for both...

Over the last 15 years, the evolution of labor costs has been very diverse across EMU countries. Since wages have important second-round effects on prices and competitiveness, and EMU countries do not have the tool of the nominal exchange rate to correct for such imbalances, understanding the...