Konkret wird in der nachfolgenden Analyse versucht, die tatsächliche wirtschaftliche Situation in den drei Ländern transparent zu machen und das wirtschaftliche Potenzial zur Krisenbewältigung einzuschätzen. Mit einem Vergleich der realwirtschaftlichen Rahmenbedingungen soll geklärt werden,...

We find evidence that a significant part of the surge in the spreads of the PIGS countries in the Eurozone during 2010-11 was disconnected from underlying increases in the debt to Gdp ratios, and was the result of negative market sentiments that became very strong since the end of 2010. We also...

This background paper describes in detail the assumptions and calculations behind the results presented in Zsolt Darvas, Jean Pisani-Ferry and André Sapir 'A comprehensive approach to the euro-area debt crisis', Bruegel Policy Brief No 2011/02, February 2011. An assessment of the results and...

Using a Dynamic Semiparametric Factor Model (DSFM) we investigate the term structure of interest rates. The proposed methodology is applied to monthly interest rates for four southern European countries: Greece, Italy, Portugal and Spain from the introduction of the Euro to the recent European...

Since the middle of the 1980s many European countries have reduced the strictness of their employment protection mainly by relaxing it for temporary jobs. These countries are Belgium, Denmark, Germany, Greece, Italy, the Netherlands, Portugal, Spain and Sweden. The article explores the...

The integration of the central and eastern European countries into the international capital markets has been and will be determined by the process of European Union (EU) integration. Our analysis shows that southern and eastern European countries already appear to be surprisingly similar...