Resilience is a physical, engineering and ecological concept. Recently it has attracted attention from regional analyst and it could be a key aspect of the dynamic of spatial economic system (Reggiani et al., 2002), especially concerning how such system responds to shocks, disturbances, and...

Economic resilience is essential to better withstand adverse shocks and reduce the economic costs associated with them. We propose different measures of resilience and empirically gauge how countries differ in their shock absorption capacity conditioning on the quality of their economic...

Structural policies in the euro area are of great interest for the Eurosystem, particularly as they can support the smooth functioning of the Economic and Monetary Union (EMU) and the effectiveness of monetary policy. This paper adopts a broad definition of structural policies, analysing not...

This occasional paper reviews the macroeconomic developments in the euro area countries over the past 20 years. It analyses the accumulation of macroeconomic imbalances in the first decade of the EMU and their unwinding during the second decade. It shows that while flow imbalances have been...

In this paper, we examine the macro-to-micro-transition of cluster externalities to firms and how it is affected by the macroeconomic instability caused by the recessionary shock of 2008/2009. Using data from 16,166 manufacturing and business services firms nested in 390 German regions, we...

The concept of resilience is rather complicated and deep in content as well as quite complex for an assessment and measurement. This paper aims to make appropriate an literature review and to highlight the definition of “resilience”, as well as to analyze components in the context of the...

Despite the fact that there have been many institutional studies over the past two decades and the role of institutions in economic life is extremely high, we could state that modern economic theory of institutions is in its infancy. Institutions organize the relationship between people as well...

Currently, the Eastern Partnership (EaP) develops in a very difficult political and economic conditions that may substantially affect the prospects for its existence and building of regional economic resilience capacity. We argue that the nature and pace of previous structural reforms in EaP...