assessing the decreasing role of geographical distance (as a result of globalisation) in the world economy spatial econometric techniquesDecreasing role of distance increasing importance of financial openness as channel of spillovers aross countries

Ageing societies influence the development of industrialised countries. A changing age composition of the population not only affects pension and social security systems but also infrastructure, housing market, available workforce and consumption pattern. Though the process proceeds only slowly,...

This paper explores the capacity of computable general equilibrium (CGE) models to track down policy induced economic changes and their ability to generate contrastable data for an economy. Starting from an empirically built regional Social Accounting Matrix (SAM), a first stage CGE calibrated...

Compared to oil and gas, metals have been rather a side issue in the economic analysis of natural resources in the last decades. However, in the recent past we saw an increase of interest in the topic, mainly driven by the heated discussion about critical metals. Rare Earth Elements (REE) are...

The objective of this paper is to build and use FAVAR model to evaluate the responses of a wide range of macroeconomic variables to monetary policy shocks. FAVAR is superior to standard VAR for many reasons. One, with Factor VAR model, it is possible to combine the standard VAR approach with...

For a long time European gas markets used to be dominated by `national champions', vertically integrated firms, controlling imports, transit lines and distribution networks. In its drive to create a common market, the EU commission is trying to overcome this fragmentation by liberalizing...

Using a unique dataset comprising information for over 900 firms in the machine building sector in Belarus, we investigate the determinants of firm growth for an economy where state ownership of enterprises is widespread. We use panel data models based on generalizations of Gibrat's law, total...

Labour income taxes have decreased considerably in Finland in the period 1996-2008. At the same time the Finnish economy has grown rapidly. Nevertheless, there has been another coincident trend in this period: A rapid rise in inequality. This study aims to answer to what extent labour income tax...

One of the characteristics of the Spanish economy is the high percentage of small and medium-sized firms. Size is one of the factors that condition the managerial organization of the firm and their efficiency and productivity. On the other hand, it is a well-established connection between...

The aim of this paper is to carry out a sectorial causality analysis between prices and unit labour costs for the Spanish regions. In order to achieve our goal, we have developed our own database for the unit labour costs (ULC). It includes data for Spain and five of its regions: Andalusia,...