Housing prices vary geographically, even between municipalities. Local differences can be attributed to differences in incomes, demographic effects and real estate characteristics. This paper argues that one should additionally take into account the geographical location of municipalities. In...

Previous studies have argued that the enlargement of the European Union triggered a geographical reorientation and diversification in the exports by European Union member states, caused by a combination of trade creation and trade diversion. This paper adds to the existing literature, by...

This paper assesses the impact of Eurobonds on sovereign debt dynamics for selected European member states (Greece, Ireland and Portugal). For each member state, we produce sovereign debt fan charts of (i) a baseline scenario (no Eurobonds) and (ii) a Full-Fledged Eurobond introduction. The key...

Recent analysis of detailed product-level trade data points to substantial heterogeneity in variety and quality patterns in international trade. We study the evidence of variety and quality of manufacturing trade among European Union countries. The existing methodology is extended by...

The present paper studies the variety gains from trade integration. Applying a heterogenous firm model we simulate trade liberalisation in alternative integration scenarios, where per unit trade costs, fixed trade costs and both of them are reduced. The main innovation of our paper is that we...