This paper purports to apply the balance of payments constrainedgrowth model to explain the European growth performance in the last forty years and to discuss the likely prospects for the future. After a formal reconsideration of the long-run and short-run arguments supporting the validity of...

World economies, and especially European ones, have become strongly interconnected in the last decades and a joint modelling is required. We propose here the use of Copulas to build flexible multivariate distributions, since they allow for a rich dependence structure and more flexible marginal...