Policy is only as good as the information at the disposal of policymakers. Few moments
illustrate this better than the uncertainty before and after the default of Lehman Brothers and the …

Using information on 2,300 Air Services Agreements covering 184 countries, we investigate
the impact of air services liberalization on passenger flows. We find that a certain level of …

This paper assesses empirically whether or not current account reversals have permanent
growth effects and the role of macroeconomic policies in this process. The methodology …

OECD work prior to the financial crisis suggested that real prices in several housing markets
had become vulnerable to a change in financial and economic conditions, with the risk of a …

Stricter derivative margin requirements have increased the demand for liquid collateral but
euro area investment funds which use derivatives extensively have been reducing their liquid …

What determines whether or not multinational firms transplant the mode of organisation to
other countries? We embed the theory of knowledge hierarchies in an industry equilibrium …

Large shifts in countries' external current account positions can be disruptive, often reflecting
sudden stops in the flows of external finance and leading to exchange rate and banking …

Using a novel quarterly dataset on debt financing of non-financial corporations, this paper
provides the first empirical evaluation of the relative importance of loan and market-based …

The Central European countries became members of the European Union (EU) in May 2004.
Has their accession into the EU also resulted in a stronger financial integration with the …

Using a gravity-type model to explain bilateral passenger traffic, this paper estimates the impact
of liberalizing air transport services on air passenger flows for a sample of 184 countries. …