The study suggests that the EU's eastward enlargement will be beneficial to the new members, while most EU countries will record minor welfare gains. Poland is expected to gain 3.4% of GDP, and Hungary almost 7%. The new members will experience production increases across almost all sectors,...

The Lisbon strategy could reinvigorate Europeu0092s economy and boost employment. In 2000 the European leaders agreed to stimulate economic growth and employment and make Europeu0092s economy the most competitive in the world. If Europe would really reach the goals they set, Europeu0092s Gross...

Understanding how working time is organised and how this is impacting on balance of work versus private life is of fundamental importance. This general statement is very much in accordance with the main objective of the Europe 2020 employment strategy, stating that at least 75% of the population...

The focus is upon equilibrium real exchange rates, optimal external debt and their interaction, in a world where both the return on investment and the real rate of interest are stochastic variables. These theoretically based measures are applied empirically to answer the following questions:...

We develop a simple model of the exchange rate in which agents optimize their portfolio and use different forecasting rules. They check the profitability of these rules ex post and select the more profitable one. This model produces two kinds of equilibria, a fundamental and a bubble one. In a...

Adding a stage of signal acquisition to the expected utility model shows that Bayesian updating results in a well defined law of demand for financial information when asset return distributions are conjugate priors to signals such as in the gamma-Poisson case. Signals have a positive marginal...