This paper analyses changes in the speed of labour demand for new hires in response to the lockdowns that were repeatedly put in place to contain the spread of the COVID-19 pandemic. It tests whether the uncertainty-reducing effect of similar lockdowns occurring in quick succession increased the...

Specialisation in value-chain functions is one of the new phenomena introduced by global value chains and holds great potential for productivity gains. The advantages of global value chain integration, however, could be potentially countered by unfavourable functional specialisation. This study...

This paper analyses the emergence of internal debtor-creditor relationships within a monetary union. Developing a stock- ow consistent model consisting of three regions - North, South, and the Rest of the World (RoW), where North and South form a monetary union - it shows how the simultaneous...