The recent economic downturn The decline in GDP during the recession has been concentrated in manufacturing and construction and triggered significant (though smaller) declines in basic services (distribution, hotels and restaurants, and transport). The decline in manufacturing production was...

Graph of the month Share of foreign value added in the exports of selected countries Opinion corner What might be the economic consequences of a potential territorial break-up of Ukraine? (by Vasily Astrov) Trade integration, vertical specialisation and employment growth in the new Member States...

Summary This study analyses the impact of knowledge assets on productivity and technical efficiency in the EU, as well as their role in the process of knowledge transfer. The analysis covers the role of the institutional and regulatory environment in affecting productivity and technical...

In this paper we extend the agglomeration model of Ciccone (2002) to the level of industry. We then test this model using panel data for six sectors on regional level data for 27 EU member states. Our results for the aggregate economy confirm the estimates of Ciccone (2002). For our full sample...

This paper employs smooth transition models to investigate the GDP series of ten CEECs. Allowing for a transition in both trend and intercept we examine the response of GDP to reforms in CEECs. Our results indicate that in only a small of number of countries is there evidence to suggest that the...

The impact of the Central and Eastern European economies' trade integration with European markets on CEE trade structures has been studied extensively. These studies frequently observe a quality upgrading of CEE exports. In this paper we consider three dimensions of quality upgrading upgrading...

The transformation of international financial markets and the future of the eurozone (by John Eatwell; pp. 1-6) Keywords Financial Markets, euro, Debt Crisis Countries covered European Union Topics Macroeconomic Analysis and Policy The harmonisation of banking supervision a chokehold (by Tomasz...

In this paper we examine the impact of membership in Preferential Trade Agreements (PTAs) on trade between PTA members. Rather than considering the impact of PTA membership on the volume of trade we consider the impact of membership on the structure of trade. For a large sample of countries over...

We analyse the robustness of potential determinants of the differences in the long-run growth rate of GDP per capita across EU regions using quantile regression. We propose using Bayesian Model Averaging (BMA) methods on the class of quantile regression models in order to assess the set of...

This paper examines the impact of offshoring on labour elasticities for a sample of 40 countries over the period 1995-2009 using the recently compiled World Input-Output Database (WIOD). Including measures of narrow and broad offshoring, as well as indicators of manufacturing and services...