The economic gap between the EU and three candidate countries - Bulgaria, Romania and Turkey - is significant. Living standards, as measured by GDP per capita at PPP, are less than one third of the level prevailing in the former EU-15 u0096 and about half of the average level in the new member...

This paper presents evidence for structural differences in economic growth dynamics between the current EU and the central- and eastern European accession countries. Two important results emerge from the analysis. First, accession countries have posted higher average growth and wider output...

Europe is slowly emerging from one of the deepest recessions on record with the European Commission predicting positive growth in the third quarter of 2009. The third issue for 2009 includes: current macroeconomic trends and prospects; an overview of ERM statistics for July-September 2009;...

The EU emerged from recession in the third quarter of 2009 but growth remains anaemic ( 0.3%, EU27) and well below trend rates. Unemployment notably continues to rise and its pace of increase has accelerated in the most recent quarter to reach the highest levels in over a decade (9.5%, EU27)....

This guide provides a framework and practical recommendations for establishing material flow accounts and balances and for deriving a set of physical indicators for a whole economy. It offers harmonized terminology, concepts and a set of accounts and tables for implementation. The guide also...

Economic independence and fighting gender-based violence are two key priorities in the 2016-19 Strategic Engagement for Gender Equality. Studies assessing economic and health implications of gender-based violence have been undertaken nationally in some Member States as well as for the EU as a...

The report summarises the results generated in empirical analysis within a larger EU's 5th framework programme for research and development on the determinants of productivity gaps between the current EU-15 and accession states in central and eastern Europe. The focus of research in this part of...

Standard economic models hold that exchange rates are influenced by fundamental variables such as relative money supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help predict changes in floating exchange rates u0097 that...

The paper proposes a multi-factor international asset pricing model in which the exchange rate is allowed to be co-determined by a risk factor imperfectly correlated to other priced risks in the economy. The significance of this factor can be established as long as one is able to observe a proxy...

In this note we demonstrate that in affine models for bilateral exchange rates, the nature of return interdependence during crises depends on the tail properties of the fundamentals' distributions. We denote crisis linkages as either strong or weak, in the sense that the dependence remains or...