This paper develops a simple model that can be used to estimate the effectiveness of Cohesion expenditure relative to similar but unsubsidized projects, thereby making it possible to explicitly test an important assumption that is often implicit in estimates of the impact of Cohesion policies....

This note develops a flexible methodology for splicing economic time series that avoids the extreme assumptions implicit in the procedures most commonly used in the literature. It allows the user to split the required correction to the older of the series being linked between its levels and...

In the last decade or so, growth has come to occupy an increasingly important place among the interests of macroeconomists, displacing to some extent their previous preoccupation with the business cycle. This change is largely due to two factors. The first one is the realisation that, in terms...