We analyze the determinants of the structure of public debt in the case of Spain, from a sub-national perspective. The endogenous shift in the composition of debt among short- vs long-term instruments, loans- vs securities, or residents vs non-residents, depends on observable measures of credit...

Following the discontinuation of statistics on industrial new orders by Eurostat since the observation period March 2012, this paper presents the ECB indicator for euro area industrial new orders. This indicator aims to fill the emerged gap on euro area industrial new orders for various...

The paper investigates the link between corruption and efficiency by using a rich micro-level dataset concerning solid waste collection activities in 529 Italian municipalities observed over the years 2004-2006. In order to test the impact of corruption on cost efficiency we estimate a...

Driving forces, economic transformation, suburbanisation, migration and recent construction of linear infrastructures have inevitably contributed to unfavourable land use trends around Europe. Arable land area has been continuously declining and has been replaced by artificial and built-up areas...

Rationale and objective: The objective of this paper is to define the term "Maturity Transformation" and to measure the amount of interest rate risk arising from maturity transformation to which large European banks are exposed. Modeling approach and methodology: We collect balance sheet asset...

Ever since the accession of Spain to the European Economic Community, Andalusia has been recipient of European Funds, hence, this paper proposes an analysis on the main macroeconomic variables of the region, that will reveal the economic impact of the European Funds received by the Autonomous...

The purpose of this paper is to evaluate the impact of trade cost reduction on the Asian economy by employing a sub-national level model based on New Economic Geography. Our model comprises seven sectors, including manufacturing and non-manufacturing sectors, and 1,715 regions in 18...

Today, China is the world’s leading gold producer and its second largest consumer. Traditionally imposing strict regulations on its gold market, China has ushered in a process of liberalisation a decade ago, encouraging individual gold trading, gold import and export. A boom in domestic demand...

Ghersi and Hourcade (2006) proved that the impact of technical constraints (often derived from bottom-up models) may result in strong macroeconomic impacts. Therefore, the modeling choices of the representation of technical change in CGE models affect the evaluation of the cost of climate and...

This paper examines the development of total factor productivity (TFP) and the drivers of TFP for a panel of 17 EU countries in the period of 1995-2007. We estimate aggregated and sectoral TFP for 17 EU countries by means of the augmented mean group estimator to control for endogeneity,...