This paper examines the role of exchange rate changes in the monetary policy for the Euro Area. Moreover, it compares different Taylor-type policy rules with respect to the numerical results as well as the impulse responses to exogenous shocks and the fit of the different data model...

In this paper, we argue that important labor market phenomena can be better understood if one takes (i) the inherent incompleteness and relational nature of most employment contracts and (ii) the existence of reference-dependent fairness concerns among a substantial share of the population into...

In recent years, many social scientists have claimed that trust plays an important role in economic and social transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the identification of the exact role of trust in economic...

Four types of 'economics' relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of...

This article aims at analysing how housing choices are formed in the particular housing market contexts and in the interplay with professional market practices, which is especially topical for understanding the functioning of the contemporary marketised housing fields. The research is based on a...

Innovations have been seen as the key factor for the European Union economies to survive in international competition (see Lisbon agreement etc.). Consequently, there are many programmes and policies encouraging universities’ participation in international, national and regional innovation...

This paper studies the Estonian housing market, which, being the market with fastest growing prices in CEE, has undergone a rapid growth that has been oft en explained solely by an active convergence process to more advanced European countries. The study seeks to discuss the effects of changes...

The impact of a corporate taxation regime on the application of performance indicators of companies is one of the issues receiving inadequate coverage in finance literature. This paper discusses some issues that relate to the use of return on equity (ROE) and price-to-book (P/B) ratios under...