This paper synthesises the implications of recent statistical evidence regarding inflation persistence in the euro area. For aggregate data, the degree of inflation persistence appears to be very high for sample periods spanning multiple decades but falls dramatically once we allow for time...

This paper re-examines the relation between regional integration and trade by using the framework suggested by Yeats [1998] to analyze the effects of European integration. We identify the industries that experienced the largest increases in regional trade orientation during three phases of...

This article uses individual supermarket prices and analyses to what extent absolute deviations from the law of one price are attributable to transaction costs. The results indicate that absolute percentage price differences increase with distance, but at a decreasing rate. Similarly, crossing...

La Revista Integración & Comercio del BID incluye artículos referidos a las distintas manifestaciones del proceso de integración en América Latina y el Caribe, a la integración hemisférica y, también, a los procesos con igual orientación que se llevan a cabo en otras partes del mundo....

This paper investigates the transmission of monetary policy using data from a panel of Luxembourg firms. The results indicate that the sales accelerator may be at work. A very robust result is the negative effect of the user cost of capital on firms' investment ratio. Changes in user costs are...

The paper investigates the productivity effects of national road infrastructure investment in Western Europe.The study makes use of newly available OECD/ECMT data showing a secular decline of productivity growth and of transport infrastructure investment. Infrastructure availability is modelled...

Since the second half of the ''''70s, a great crisis has hit the local system of Catania, - which is the most important town in the North-east of Sicily - both in its economical aspects and in its social and political ones. In the ''''90s, nevertheless, the city has been interested by deep...