One of the most obvious consequences of a monetary union is that monetary policy is lost as an instrument of national macroeconomic policy. The loss of the exchange rate as a national policy instrument has important implications for macroeconomic stability in the presence of asymmetric shocks,...

In a big amount of economies (NUTS-I) the evolution of manufacturing production is analysed using Gross Domestic Product (GDP) and Gross Added Value (GAV) data from National Accounts. In Spain, the problem of using these data is that they are not available as soon as it would be desirable. In...

Regional data on wages for the Spanish Economy show that workers who live in developed regions earn more than workers in other regions. For example, the average wage in Madrid or in Catalonia -two of the most developed regions- is about a 50% higher than in Murcia -a region specialised in...