We suggest the first large-scale international comparison of labor supply elasticities for 17 European countries and the US, separately by gender and marital status. Measurement differences are netted out by using a harmonized empirical approach and comparable data sources. We find that own-wage...

In the years before the global financial crisis, Croatia's imports grew rapidly in comparison to its exports. The bursting of the financial bubble initiated a sharp adjustment process: first imports compressed and subsequently exports expanded. Croatia now has a comfortable current account...

In the years before the global financial crisis, expectations of rapid income convergence led to increases in wages and prices in Croatia, which eroded the competitive position of the country's already thin tradable sector. The labour market adjusted more slowly to the fall in economic activity...

Spain's imports of goods and services fell by almost 17 % between 2008 and 2013, led by non-energy imports which fell by nearly 20 %. As a result, Spain's current account balance swung from a deficit of 10 % to a surplus of 1.1 % in just six years. Part of this remarkable change may be...

Our analysis of microeconomic data between 2008 and 2013 suggests that the wage adjustment process in Spain, which began in earnest only in 2010, has been slow and inefficient and has hit temporary workers disproportionately hard. Whereas total employment fell by more than 16%, real aggregate...

This Country Focus discusses the effects of the reform of the severance payment regime on job-to-job mobility in Spain. Job-to-job mobility is important in the process of allocation of resources towards more productive sectors and companies. Prior to the reform in 2012, Spanish employees hired...

Spain is planning a reform of its tax system during 2014, with the aims of simplifying it, increasing its economic efficiency and reducing debt bias. The reform may offer an opportunity for a growth- and employment-friendly reallocation of revenues amongst different tax bases. Both theory and...