Is digitalisation a massive gamechanger which will deliver huge gains in productivity, or is it more of a sideshow with only limited impacts? We use a large balance sheet panel dataset comprising more than 19 million European firm-level observations to empirically investigate the impact of...

Structural policies in the euro area are of great interest for the Eurosystem, particularly as they can support the smooth functioning of the Economic and Monetary Union (EMU) and the effectiveness of monetary policy. This paper adopts a broad definition of structural policies, analysing not...

The National Institute produces four World Economy forecasts each year based on the output of the Global Model, NiGEM. We have rebased and expanded the model. The trade and competitiveness system is now based on the pattern of trade in 1987, and we have adapted the model in order that we can...