The "Brexit bill" is an expected payment to be made by the United Kingdom that would settle its financial commitments when it leaves the European Union.While authors of this Working Paper consider the financial settlement the least important economic issue in the Brexit negotiations, a...

Facilitating the financing of European companies through external equity is a central ambition of European Union financial regulation, including in the European Commission’s capital markets union agenda. An emphasis on equity is justified because Europe’s companies remain vulnerable because...

Facilitating the financing of European companies through external equity is a central ambition of European Union financial regulation, including in the European Commission's capital markets union agenda. An emphasis on equity is justified because Europe's companies remain vulnerable because they...

We analyse the use of short-time work (STW) by Luxembourg firms during the years of economic and financial crisis (2008-2009) and the subsequent European sovereign debt crisis (2010-2013). The economic and financial crisis saw a surge in the number of firms using short-time work. We find that...

We analyse the use of active labour market policy (ALMP) measures by Luxembourg firms during the years of economic and financial crisis (2008-2009) and the subsequent European sovereign debt crisis (2010-2013). About 34% of Luxembourg firms used ALMPs between 2008 and 2013. Economy-wide, the use...

We use a newly-compiled dataset to investigate whether and why European Union countries implement the economic policy recommendations they receive from the EU. We find that implementation rates are modest and have worsened at a time when the economic environment has improved and market pressure...

After reaching historically low levels in the first half of 2016, European long-term sovereign yields experienced a notable increase in the second half of 2016 and at the beginning of 2017, before stabilising in the last few months. The nominal long-term interest rate can be decomposed into the...