The chemicals industry is a major contributor to the EU economy in terms of output, value-added, employment, and (net) exports. The sector supplies products to almost all downstream industry sectors and is an important engine for innovation for the wider economy. It plays a key role in...

We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...

Capital quality improvement is a general phenomenon. Therefore quality correction is needed in price indexes. There is substantial evidence of biases in the official price indexes of capital equipment. We apply to euro area statistics estimates of these biases based on US data thus deriving...