Climate change will have an effect on the European Union. The repercussions will be regionally varied, with impacts on several sectors in the economy. Climate change has the particularity of being global with respect to the sources of emissions and local in the consequences (whether positive or...

We examine job flows in the 1990s for a sample of 13 European countries. By using a dataset of continuing firms that covers all sectors, we find firm characteristics to be important determinants of job flows, with smaller and younger firms within services typically having a larger degree of job...

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...

This paper presents evidence for structural differences in economic growth dynamics between the current EU and the central- and eastern European accession countries. Two important results emerge from the analysis. First, accession countries have posted higher average growth and wider output...

This paper analyses the link between finance and growth by studying the effect that the process of financial deregulation and harmonisation of banking laws at the EU level has brought about on growth over the last 40 years. Our main findings point to the existence of a positive long-run growth...

Increasing the use of renewable energies offers significant opportunities for Europe to reduce greenhouse gas emissions and secure its energy supply. However, the substantial rise in the use of biomass from agriculture, forestry and waste for producing energy might put additional pressure on...

Energy gives personal comfort and mobility to people. However, it also places considerable pressures on the environment, such as emissions of greenhouse gases and air pollutants. EU policy thus aims at integrating environmental requirements within the energy sector. This report measures the...