This paper seeks to shed light on possible changes in the government debt dynamics for the first 12 euro area countries. Structural breaks are present around the global financial crisis for most countries, but not for Germany and France, the two core countries in the euro area. The properties of...

In this paper we provide an insight into the inflation dynamics in a panel of Central and Eastern European countries. Applying unit root tests and allowing for nonlinearities, we show that inflation rates in more than half of these countries are stationary.

This paper presents a cyclical model for unemployment and entrepreneurship. The estimated periodicity of the cycles for the US, the UK, Spain and Ireland is between 5 and 10 years, and the orders of integration are smaller (greater) than 1 if the underlying disturbances are autocorrelated...