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...

This paper estimates an import demand function for the euro area vis-a-vis its main extra-area trading partners which takes into account the possible impact of both intra and extra-euro area exchange rate uncertainty.

How can we best explain the behavior of exports into Britain and Germany from 1975 to 1995? Our study uses a highly disaggregated data det to find some evidence of hysteresis in trade flows (rather stronger for German imports than for British) and the role of technology proxies, particularly...