We evaluate the Friedman-Schwartz hypothesis that a more accommodative monetary policy could have greatly reduced the severity of the Great Depression. To do this, we first estimate a dynamic, general equilibrium model using data from the 1920s and 1930s. Although the model includes eight...

The mandate for this study was to undertake an evaluation of EU external action as managed by three DGs: DG RELEX, DG DEV and DG AIDCO. The Terms of Reference identified two main objectives (ToR, Feb 2010, Section 1 – reproduced in Annex 1): · To provide an overall independent assessment of...

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...

Results from the European Quality of Life Survey (EQLS) show comparisons over time of different dimensions of people’s quality of life, including their standard of living. A combined review of indicators from the EQLS and those obtained from the Eurobarometer (for 2009 and 2010) highlights the...

This working paper examines how social dialogue has addressed the impact of the crisis. In order to make reasonable comparisons between countries as diverse as Brazil, China, Japan and the USA it is necessary to take into account the institutional, political, economic and social backgrounds....

The reduction of working time has played a major role in lessening the impact of lowered production output on employment levels, and this project aims to investigate short-time working and temporary layoff schemes which have been used as a means of avoiding redundancies by many Member States...

The reduction of working time has played a major role in lessening the impact of lowered production output on employment levels, and this project aims to investigate short-time working and temporary layoff schemes which have been used as a means of avoiding redundancies by many Member States...

Social dialogue is one of the cornerstones of social Europe and involves employers, workers and their representatives, and, in tripartite structures, also public authorities in the discussions and negotiations which shape social policy and industrial relations. This study seeks to establish how...

The study discusses the relationship between accountability and transparency in central banking and the role and scope of parliamentary scrutiny. Special attention is given to the consequences of the current crisis for this area. For the authors, the current crisis shows that price stability...