The need to revive Euro area growth highlights the importance of the evolution of domestic and external demand in the core. This paper puts recent demand patterns in France, Germany, and Belgium into historical perspective. We find that, first, dynamics for private consumption, non-residential...

The need to revive Euro area growth highlights the importance of the evolution of domestic and external demand in the core. This paper puts recent demand patterns in France, Germany, and Belgium into historical perspective. We find that, first, dynamics for private consumption, non-residential...

The need to revive Euro area growth highlights the importance of the evolution of domestic and external demand in the core. This paper puts recent demand patterns in France, Germany, and Belgium into historical perspective. We find that, first, dynamics for private consumption, non-residential...

The causality between energy consumption and real income in developed countries has been a very vital research topic in recent years. Raising concerns about climate change and global warming increase the pressure on policy makers to take action against energy depletion. Unfortunately these...

The use of renewable energy (RE) sources plays a significant role in increasing the security of energy supply and mitigating climate change. Whereas this role is undisputed, there is an ongoing discussion about the employment impacts of promoting RE deployment. In the past years several studies...

Imputed rental income of homeowners is tax exempt in most countries, despite the long-standing arguments recommending its inclusion in the tax base, on both equity and efficiency grounds. While the financial and fiscal crisis revived interest towards this form of taxation, this paper...

Ageing societies influence the development of industrialised countries. A changing age composition of the population not only affects pension and social security systems but also infrastructure, housing market, available workforce and consumption pattern. Though the process proceeds only slowly,...

The standard vector error correction (VEC) model assumes the iid normal distribution of disturbance term in the model. This paper extends this assumption to include GARCH process. We call this model as VEC-GARCH model. However as the number of parameters in a VEC-GARCH model is large, the...

The overall degree of international equity market connectedness has gradually increased over the past two decades. Reflecting the shift in global economic power, it has been recently suggested to pay more attention to the BRICT (Brazil, Russia, India, China, and Turkey) countries. Building on,...