The EU aims to reduce its CO₂ emissions by 55% by 2030 compared with 1990 levels, and by 90% by 2040 relative to 1990. To achieve these ambitious climate targets, the volume of available emission allowances will have to be drastically reduced in the coming years. This will lead to a sharp...

The EU aims to reduce its CO₂ emissions by 55% by 2030 compared with 1990 levels, and by 90% by 2040 relative to 1990. To achieve these ambitious climate targets, the volume of available emission allowances will have to be drastically reduced in the coming years. This will lead to a sharp rise...

Different economic agents might respond differently to the same policy action. Information about household and firm heterogeneity can, therefore, enhance central banks' understanding of monetary policy transmission and ultimately its effectiveness. Cross-sectional data can also help central...

Recent fraud scandals have raised concerns about the reliability of financial data disclosed in financial statements. The main purpose of this article is to investigate how financial data manipulation affects company failure risk. The research sample comprises 63 non-financial Romanian companies...

Europe has managed major shocks, but growth is slowing, export gains are reversing due to tariffs, and bond markets reflect rising risks. Interest rate cuts and increased fiscal spending, including defense, have not spurred private demand. The productivity gap with the US remains wide, and...

The United States under President Donald Trump has adopted an ambiguous position on European security. Although no immediate risk of abandonment is apparent, European countries are rethinking their defence strategies in case the US declines to support them, or provides only partial support, in a...