We develop a small-scale dynamic factor model for the Swiss economy based on an appropriately selected set of indicators. The resulting business cycle factor is in striking accordance with historical Swiss business cycle fluctuations. Our proposed model demonstrates a remarkable performance in...

This report offers an extensive analysis of the effects of the EU Single Market. It sheds light on four interrelated aspects: It first reveals the asymmetric economic performance across member countries, which also mirrors structural differences. These differences in economic outcomes are next...

This study examines the lack of convergence among EU countries from a structural perspective. We apply the tradable-non-tradable framework (T-NT) to evaluate the heterogeneity in labour productivity before and after the great recession. We find that, across all countries, non-tradables were less...