This paper analyzes the response of the European stock markets to the monetary policy shocks by the European Central Bank using the heteroskedasticity based approach of Rigobon (2003). We find that monetary policy tightening has a heterogeneous impact on the Euro Area sectors on the day the...

The present paper studies the relationship between R&D investment and firm productivity growth by explicitly accounting for non-linearities in the R&D-productivity relationship and inter-sectoral firm heterogeneity. In order to address these issues, we employ a two step estimation approach, and...

The present paper studies the relationship between R&D investment and firm productivity growth by explicitly accounting for non-linearities in the R&D-productivity relationship and inter-sectoral firm heterogeneity. In order to address these issues, we employ a two step estimation approach, and...

The present paper studies the relationship between R&D investment and firm productivity growth by explicitly accounting for non-linearities in the R&D-productivity relationship and inter-sectoral firm heterogeneity. In order to address these issues, we employ a two step estimation approach, and...

The present paper studies the relationship between R&D investment and firm productivity growth by explicitly accounting for non-linearities in the R&D-productivity relationship and inter-sectoral firm heterogeneity. In order to address these issues, we employ a two step estimation approach, and...

Although the Computable General Equilibrium (CGE) model is not a new tool in analyzing policy impact, it has not yet gained wide popularity in regional applications such as rural economies. This study demonstrates, however,that a regional CGE model can be a quite useful regional development...

This paper describes the dynamic spatial general equilibrium model, Regional Holistic MOdeL(RHOMOLO), developed by the European Commission, where the labour market equilibrium is determined by firms’ labour demand, unemployment and interregional labour migration. We carry out simulations on...

In this paper we analyse the possible impact of Cohesion Policy 2014-2020, putting together the investments supported by EU funding in all NUTS2 regions and running a set of simulations. We make use of RHOMOLO, a spatial CGE model tailored for economic analysis at the subnational level, which is...