This paper presents SME financing gaps across European countries over the period 2013 to 2020, using two different methodologies, one reliant on firm balance sheets and one on firm-level surveys. We show significant variation in financing gaps across countries and sectors. Variation over time,...

This article investigates how European public opinion has responded to short-term variations in regional foreign-born immigration over the past decade (2010-2019). Combining data from the European Social Survey and the European Union Labour Force Survey, we test how natives’ opinions over...

We replicate the findings of Emlinger and Guimbardr (ERAE, 2020) on the heterogeneous effects of per-unit tariffs on trade patterns for developed and developing countries. Analysing import and export data from 2001 to 2013, they confirm the Alchian-Allen conjecture that per-unit trade costs...

The Paris Agreement calls on developed countries to take the lead in global efforts to stop climate change. The drawback with differentiated commitments is carbon leakage, that is, that emission intensive industries migrate to countries with lower carbon prices. This risk has prompted the EU to...

We build a dynamic model where the economy is vulnerable to belief-driven slow-moving debt crises at intermediate debt level, and rollover crises at both low and high debt levels. Vis-à-vis the threat of slow-moving crises, countercyclical deficits generally welfare-dominate debt reduction...

We study the transmission of monetary policy shocks using daily consumption, corporate sales and employment series. We find that the economy responds at both short and long lags that are variable in economically significant ways. Consumption reacts in one week, reaches a local trough in one...

The gains from monetary policy cooperation depend on real and financial distortions in the economy and evolve dynamically with prevailing economic conditions. We show that, with international trade in assets, these gains are driven by asymmetric cross-border developments in productivity and...

In the wake of Brexit and Trump trade war, central banks face the need to reconsider the role of monetary policy in managing the inflationary-recessionary effects of hikes in tariffs. Using a New Keynesian model enriched with global value chains and firm dynamics, we show that the optimal...

The complexity of the trade policy environment in the European fruit and vegetables market is mostly due to the Entry Price System, a non-tariff measure that regulates imports. We investigate the trade effects of the EPS by estimating a structural gravity model of trade flows from major European...

The UK’s Trade Remedies Authority (TRA) conducts economic assessment of the ramifications of trade remedies, the Economic Interest Test (EIT). Such assessments are not mandated by the World Trade Organization but are conducted by certain trade remedy investigating authorities, including those...