The paper examines the effect that institutions have on Total Factor Productivity (TFP) growth. This is done by creating a TFP gap between the leader and each of the following countries. The global leaders used are the USA and an average of OECD members. The coefficient on the gap measures each...

This economic letter uses new micro loan-level data from Irish banks to gain a better understanding of the financial difficulties in the Irish mortgage sector. The availability of these data provide a more granular view of borrower distress and clarifies mortgage arrears within the participating...

This Economic Letter analyses the performance of permanently modified mortgage loans, of which there were some 38,086 in the domestic Irish banks at end-2013. For modified loans with prior default history (18,740), 55 per cent met the modified repayment amount at end-2013, up from 28 per cent in...

"During the chaos of the eurozone crisis, few mainstream commentators have stopped to question the purpose of the European Union itself, and whose interests it serves. Corporate Europe goes beyond the divisions between nation-states, focusing instead on the division between the corporate elite...

Applying a t-DCC-GARCH model to daily spread data, four phases of interaction in euro area sovereign bond markets are identified between January 2008 and June 2013. The initial period (January-October 2008) is followed by a general rise in pairwise correlation values between November 2008 and...