Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest rates on real output growth for several European...

We investigate the expected college completion time of European college students by using data from a survey of more than 3000 students in 10 countries. We explain observed excess time to graduation by paying special attention to labor market variables, such as unemployment, wage differentials...

We develop a simple search equilibrium model of workplace training and education based on two features. First, investment in education improves job-related learning skills and reduces training costs burdened by firms. Second, firms with vacant skilled job slots can choose between recruitment...

This paper investigates price-setting for truly homogenous products sold in markets without any formal trade barriers. We use data from IKEA, a furniture company selling identical products in an identical shopping environment in different EU countries. We get four remarkable outcomes: 1) The law...

Social transfers vary enormously across the EU, as has been demonstrated in earlier research. This paper analyses the comparative effects of cash transfers on inequality and poverty, using consistent household data. The analysis shows that the distributional impact of these transfers is greater...

In recent years in the public discourse of many European countries there has been a shift in emphasis from ?poverty? to ?social exclusion?. Broadly interpreted, ?social exclusion? implies the ?inability of an individual to participate in the basic political, economic and social functionings of...

This paper provides a statistical analysis of the determinants of attitudes towards foreigners displayed by Europeans sampled in Eurobarometer surveys in 1988 and 1997. Europeans who compete with immigrants in the labor market have more negative attitudes towards foreigners. In addition, an...

Intensified European integration, enlargement of the EU, and increasing migration activity worldwide have pushed migration and migration policy to the forefront of the European agenda. This paper identifies the salient questions to be addressed by any educated migration policy. It embeds this...