The extent of multinational activity and the share of world trade accounted for by multinational enterprises has risen steadily over the past two decades. This has led to renewed interest within Europe in the impact of multinational enterprises on employment, investment and trade, and the...

In this paper we investigate whether differences we observe in European labour market transmission mechanisms matter for monetary policy design. We are particularly concerned with the robustness of the choice of rule by the European Central Bank (ECB) but we also comment on the choice of rules...

This article evaluates the density forecasts of inflation published by the Bank of England and the National Institute of Economic and Social Research. It extends the analysis of the Bank of England’s fan charts in an earlier article by considering data up to 2003, quarter 4, and by...

Economic and Monetary Union in Europe brings together contributions from leading specialists which explain and evaluate the most important implications of economic and monetary union. The book examines theoretical aspects of monetary integration, illustrates the historical lessons to be learned...

Against the background of the acknowledged importance of off-balance-sheet exposures in the sub prime crisis, we seek to investigate whether this was a new phenomenon or common to earlier crises. Using a logit approach to predicting banking crises in 14 OECD countries we find a significant...