We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by simulating EAGLE, a multi-country dynamic general equilibrium model. We consider reforms in the labor and services markets of Germany (or, alternatively, Portugal) and the rest of the...

Fostering entrepreneurship as a tool for the creation and support of rural businesses is a crucial goal for the integrated development and survival of rural economies. Despite the recognition of entrepreneurship as one of the main determinants of rural economic development, empirical research in...

We know a lot about what kinds of policies are needed to support the development of productive sectors, but much less about why governments pursue these policies and why some governments achieve better outcomes than others. The paper reviews the many but disparate arguments on the comparative...

Over the last decades, empirical research on subjective well-being in the social sciences has provided a major new stimulus to the discourse on individual happiness. Recently this research has also been linked to economics where reported subjective wellbeing is often taken as a proxy measure for...

This paper analyzes whether nation-state governments can increase their credibility by becoming members of international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have an important impact on investment and growth. It is...

This paper describes the Coalition Provisional Authority's attempts to stabilize and reform Iraq's economy along market lines. It argues that while security concerns remain serious, Iraq's economy has not been crippled by violence. However, sustained economic growth will depend on whether Iraq's...