With rising spending during the COVID-19 pandemic, the state has become involved in decision-making in areas where it has held back for years. In the case of housing the state's role has declined sharply since 1989, and the expectation that housing is the private responsibility of each...

Knowledge-Intensive Business Services (KIBS) are problem-solvers for other organizations. The coronacrisis affects KIBS directly, but also means that their clients are confronting new problems. How are KIBS addressing these two sets of challenges? This paper draws on material available in the...

We decompose euro area sovereign bond yields into five distinct components: i) expected future short-term risk-free rates and a term premium, ii) default risk premium, iii) redenomination risk premium, iv) liquidity risk premium, and a v) segmentation (convenience) premium. Iden- tification is...

The COVID-19 pandemic led to a sharp contraction of economic activity in the euro area (and worldwide). Its anatomy differs strongly from other crises in recent history. We analyse the short-term economic effects of the COVID-19 shock through the lens of an estimated DSGE model. We augment the...

This paper analyses the impact of the Covid-19 pandemic on the degree of persistence of European stock markets. Specifically, it uses fractional integration methods to estimate persistence at the daily, weekly and monthly frequencies in the case of ten major European stock market indices; the...

This paper analyses the uneven geography of the COVID-19 health impact in OECD and European countries. It first describes the increase in all-cause mortality – i.e. excess mortality – across subnational regions between January and December 2020. Subsequently, it investigates the regional...