Americans work more than Europeans. Using micro data from the U.S. and 17 European countries, we study the contributions from demographic subgroups to these aggregate level differences. We document that women are typically the largest contributors to the discrepancy in work hours. We also...

In this paper, we analyzed key aspects of the changing economic relationship between the European Union (EU) and Asia, and explored the potential economic ramifications of deeper EU-Asian economic cooperation. We also investigated the possible costs to the EU of remaining disengaged from the...

To better understand the dynamics of the Chinese economy and its interaction with the global economy, the authors incorporate China into an existing model for the G-3 economies (i.e., the United States, the euro area, and Japan), paying particular attention to modelling the exchange rate and...

Differences in market structures may affect the manner in which fundamental information is incorporated into prices. High levels of quote and trade transparency plus substantial quoting obligations in European government securities markets ensure that prices are informationally efficient. The...

Empirical studies have shown that trade agreements have different effects on countries based on their level of development, especially in trade potentials. There have been several trade agreements between North-South and South-South countries, which are accompanied with different outcomes based...

According to Research Associate Thomas I. Palley, global outsourcing represents a new economic challenge that calls for a new set of institutions. In this brief, he expands upon the problems of offshore outsourcing as outlined in Public Policy Brief no. 86 and focuses on the microeconomic...

This brief provides a detailed description of the Stability and Growth Pact, an agreement entered into by the member states of the European Union that has far-reaching implications for the long-run value of the euro, and therefore, on the real economy in terms of output growth and employment....

Unemployment in the European Union (EU) is a serious problem that threatens to disrupt the integration of accession countries, the character of individual countries, and the continued existence of the EU. European integration poses a huge conundrum for European employment because the...

I summarize the main results and policy insights from the 2011 EIB Conference on Productivity and Long-Term Growth Potential in Europe. Europe's need for productivity growth has become more pressing against the backdrop of huge government debt and a beginning slowdown in labour supply. The...

Drawing on the OECD's structural analysis (STAN) database, this paper contributes to the understanding of European economic growth through a decomposition into employment and productivity, across sectors, and across different time periods and countries. The US productivity surge from the...