The EU KLEMS project represents a unique collective effort on behalf of academics, statisticians and policy makers to provide fundamental policy insights into the changes which have occurred at the industry level in Europe, the US and Japan over recent decades. The present paper has focussed on...

Prior to the launch of the euro, academics and policymakers were concerned that the loss of the monetary policy instrument would deprive participating countries of a vital tool to respond to country-specific economic shocks. This concern was rooted in the generally accepted proposition that...

This paper estimates the effects of family background, resources, and institutions on student performance in 17 Western European school systems. Family background has a strong effect in Europe, remarkably similar in size to the United States. France and Flemish Belgium achieve the most equitable...

The assessment and monitoring of the effects of various tax reforms in Member States has become a key policy concern in the Community. In the Presidency Conclusions of the Lisbon European Council on 23-24 March 2000, the European Council requested the Council and the Commission to assess...

This paper examines economic policy interactions in the Economic and Monetary Union when the assessment of cyclical conditions in real time is surrounded by uncertainty. On the basis of a simple stylised model it shows that different views about the output gap on the side of the policy players -...

Some researchers have recently introduced productive government investment spending into Dynamic stochastic general equilibrium (DSGE) models, adding a supply channel. This paper takes a similar perspective but it also introduces the government consumption good into the household utility...

This paper shows that the migration-induced re-allocation of labour resources across countries following the 2004 EU enlargement process has already brought sizeable economic benefits for the enlarged EU. In addition, the simulation results suggest that once the present temporary restrictions on...

Globalisation, defined as an increasingly integrated world economy, has the potential to generate the largest structural upheaval in economies since the industrial revolution. As in the past, this process is being underpinned by both technological change and by a shift in policies in many...

This study examines empirically factor mobility and distribution of economic activity under economic integration, with the result that the benchmark of the equal-share relationship holds strongly for US states and less so for EU countries, but does not hold for Developing Countries or the World....

This paper analyses the impact of the EU accession of Bulgaria and Romania. The fifth EU enlargement in 2004 and 2007 did not only extend the Single European Market. Since 2009, the euro zone encompasses 16 out of 27 EU member states. Additionally the Schengen area has been expanded to include...