According to the expectations channel, a fiscal consolidation may give rise to less contractionary, or even expansionary effects on consumption, despite a decline in current disposable income. Intuitively, people may accumulate a stock of savings in anticipation of the consolidation and may...

We examine net lending/net borrowing and the underlying debt dynamics at the sectoral level in the European Union. Saving and investment patterns indicate that there have been considerable deleveraging efforts since the start of the global financial crisis, particularly in the nonfinancial...

The Romanian Journal of European Studies No.4/2005 ISSN 1583 - 199X EUV - Editura Universitatii de Vest, Timisoara, 2005 The British Coucil in Bucharest and The School of High Comparative European Studies (SISEC), within the West University of Timisoara, edited The Romanian Journal of European...

Unwanted migratory flows from Albania serve as a justification for external interventions aimed at regulating migration ‘from within’. Over the last years the exertions of a number of international organizations have led to a situation of dead-lock. Overriding vested interests seem to block...

Panel data is used to investigate the extent of R&D spillovers between OECD countries, and the importance of barriers to technology adoption in affecting the benefits of such spillovers. Our results indicate that countries with less regulated goods and labour markets benefit more from foreign R&D.

In this paper we analyze how the availability of credit in uences the relationship between government size as a proxy for scal stabilization policy and the amplitude of business cycle uctuations in a sample of advanced OECD countries. Interpreting relatively low loan-tovalue ratios as an...