In the United States, Japan and the Euro Zone, FX interventions are institutionally decided by specific political authorities and implemented by central banks on their behalf. Bearing in mind that these specific political authorities and central banks might not necessarily pursue the same...

This paper investigates inter-industry wage differentials in Belgium, taking advantage of access to a unique matched employer-employee data set covering the period 1995-2002. Findings show the existence of large and persistent wage differentials among workers with the same observed...

Ce rapport de recherche a pour objet l’étude du coût budgétaire attendu et des effets économiques probables d’un programme ambitieux d’allocations-loyers en Région de Bruxelles-Capitale (RBC) selon 3 scénarios :(1) allocations-loyers versées à 5000 ménages demandeurs de logements...

Using a panel of countries over 1920-2000, this paper examines the extent to which different dimensions of the institutional framework affect exports of total, manufactured, and non-manufactured goods. It is observed that exports of manufactured goods are positively affected by the control of...

This paper aims at proposing an original framework for the mapping of innovation systems. The analytical outline is based on the following paradigm: the innovation process has commonly been accepted as a complex system of interactions between different institutions aimed to achieve specific...

Ce rapport de recherche :(1) analyse l’évolution récente des finances publiques locales en Région bruxelloise (ressources fiscales et non fiscales, régionales, communales, etc.) ;(2) simule les effets d’une baisse de la fiscalité communale sur les budgets locaux (« pertes à compenser...

This paper aims at assessing the magnitude of R&D spillover effects on large international R&D companies’ productivity growth. In particular, we investigate the extent to which R&D spillover effects are intensified by both geographic and technological proximities between spillover generating...

In this paper we aim to study and compare the countries of the former EU-15 in terms of the difference in labour market conditions between mothers and non-mothers and we look at how public policies can be designed in order to minimise the employment penalties associated with the presence of...

The dynamics of the cross-correlations between the 10 Dow Jones European sector financial indices are analyzed through to the Dynamic Conditional Correlations (DCC) model during the period 1987-2003. First, the paper confirms that, on the whole, the correlations are highly volatile. Second, it...

This note studies the volatility of the policy chosen by a committee whose members’ preferences are volatile, due to common and individual preferences shocks. It is shown that majority voting mitigates the latter but not the former. The volatility of the policy is smaller the smaller the...