The paper is done based on a survey on 170 Romanian firms. The results of the questionnaire show that R&D intensity depends on turnover and on geographical location. However, various sector-based R&D intensities are not conclusive (except the under-performing food and beverages industry, and the...

1. The Phillips Curve: what went wrong -- 2. An alternative theory of consumption -- 3. The post-crisis Phillips Curve: cumulative wage gap vs. inflation gap -- 4. Empirical evidence -- 5. Policy implications.

Facing major external and internal challenges (climate change, redistribution of power in the world economy, increased EU complexity following the Eastern enlargement etc), the European Union needs to overhaul its budget, observing some basic principles such as: solidarity, interdependence of...

Purpose – This chapter investigates the effect of capital requirement regulations, both national and those issued by the Basel Committee on Banking Supervision, on banks’ interest rate margins between loans and deposits. Higher capital requirements lead to higher margins, as banks pass this...

Over the past few decades, European multinational enterprises (MNEs) have been faced with a rapidly changing and difficult-to-predict international policy environment. Waves of privatisation, liberalisation and deregulation have alternated with periods of re regulation and institutional...