This paper analyses the both the long and the short-run relation between government expenditure and potential output in EU countries. Having a satisfactory measurement of these relations has relevant implications for policy. From a long-term perspective, it improves the understanding of the...

In this paper, the authors build a comprehensive data set of the pension reforms legislated in the EU between 1990 and 2006. They classify the reforms in three broad classes: fundamental changes to the old-age scheme (i.e., changes in the way the pension system is financed and/or in the...

The analysis of wage benchmarks serves as an input for the assessment of wage developments from a cost competitiveness perspective. The analysis shows a significant wage restraint after the crisis, in particular in countries where unemployment is high. These developments have been supportive of...