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540 - Identifying Booms and Busts in House Prices under Heterogeneous Expectations - Wilko Bolt, Maria Demertzis, Cees Diks; Cars Hommes, Marco van der Leij

540 - Identifying Booms and Busts in House Prices under Heterogeneous Expectations - Wilko Bolt, Maria Demertzis, Cees Diks; Cars Hommes, Marco van der Leij

This paper provides a method for identifying when rising house prices are in danger of becoming bubbles on the verge of bursting. As a result, it is a first step towards establishing an early warning system for house price changes that could help prevent important welfare costs.

Categories: Monetary policy; Financial markets; Economic crisis

Series: Economic Papers

 
207 - Tax expenditures in direct taxation in EU Member States

207 - Tax expenditures in direct taxation in EU Member States

Tax expenditures allow certain groups of taxpayers to reduce their tax burden and, therefore, lead to revenue losses for the government. EU Member States make ample use of tax expenditures with a wide variety of aims including employment creation, innovation, education, entrepreneurship, home ownership and income redistribution.

Categories : Public finances

Series : Occasional Papers

 
Public Finances in EMU - 2014

Public Finances in EMU - 2014

This annual report presents a review of key policy developments and analytical findings in the area of public finances.

Categories : Economic Policy Coordination; Public Finances; The Euro

Series : European Economy

 
539 - Labour mobility and labour market adjustment in the EU - Alfonso Arpaia, Aron Kiss, Balazs Palvolgyi, Alessandro Turrini

539 - Labour mobility and labour market adjustment in the EU - Alfonso Arpaia, Aron Kiss, Balazs Palvolgyi, Alessandro Turrini

This paper assesses the role of labour mobility in the EU as an adjustment mechanism. It presents stylised facts on mobility and migration at national and sub-national level, analyses the determinants of mobility flows by means of gravity equations, and studies the dynamic response of mobility to asymmetric demand shocks by means of vector auto regression (VAR) analysis in the vein of Blanchard and Katz (1992).

Categories: EU Member State economies ; Labour markets; The euro

Series: Economic Papers

 
38 - The EU’s Southern Neighbourhood: Macroeconomic Performance and Equity.

38 - The EU’s Southern Neighbourhood: Macroeconomic Performance and Equity.

This economic brief provides a critical overview of the macroeconomic situation in the countries of the EU’s Southern Neighbourhood, with particular emphasis on the structural reform challenges.

Categories : International economics and non-EU economies

Series : ECFIN Economic Briefs

 

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