This paper examines the feasibility of implementing Linear Quadratic Gaussian (LQG) Control in structural cointegrated VAR models and sheds some light on the two major problems generated by such implementation. The first aspect to be taken into account is the effect of the presence of unit roots...

This study provides information designed to encourage sectoral social dialogue in the maritime transport sector. The aim of Eurofound’s series of representativeness studies is to identify the relevant national and supranational social partner organisations in the field of industrial relations...

The Committee points out that despite it promising opportunities, the on-going crisis means that ship owners and Ship Maintenance, Repair and Conversion (SMRC) shipyards are facing financing bottlenecks making business conditions difficult for companies and ever greater competition from third...

This paper attempts to characterise an anti-inflationary monetary targeting (MT) regime. In order to derive a formal representation of this regime, we formulate the central bank’s optimisation problem under the assumption that it is possible for the monetary targeted variable to have an impact...

Growth of wages, unemployment, employment and vacancies exhibit strong asymmetries between expansionary and contractionary phases. In this paper we analyze to what degree downward wage rigidities in the bargaining process affect other variables of the economy. We introduce asymmetric wage...