Inflexible labour markets combined with high welfare costs are often thought to be the main cause of low growth in Europe. This paper uses OECD data to assess the relative impact of regulation on differences in economic performance across countries since 1990. The impact of regulation is...

With a large-scale econometric world model we derive policy multipliers and the parameters for the utility functions for 10 EMU countries and for the ECB. The gains from cooperation are calculated by comparing two equilibria, a Nash and a cooperative equilibrium. The cooperative equilibrium is...