The euro area sovereign debt crisis brought to light the potential risks to public finances posed by the banking sector. This paper simulates the potential impact of bank defaults on public finances based on stress test scenarios using an advance analytical methodology.
Categories: Economic crisis ; Financial markets ; Public finances
Series: Economic Papers
This paper analyses the impact of regulation on product sector mark-ups across the EU and confirms that less strict regulation tends to foster competition and reduce mark-up rates. The results also show that mark-ups in most EU countries and sectors have been declining over the last 15 years as a result of competition-friendly reforms. The paper also casts light on which areas of regulation are most important for mark-ups in individual sectors.
Every year thousands of Estonians, most of them young with low or medium-level skills, leave Estonia to find better paid work abroad. Given Estonia’s small population and low birth rate, this significant loss of workers exacerbates the challenges posed by the ageing of its population. This paper evaluates policy options to help combat this trend by making local jobs more attractive.
Categories: Public finances ; Labour markets ; Economic crisis
Series: Country Focus