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Go Beyond: The effects of central bank’s verbal guidance: evidence from the ECB

In this paper we propose a new indicator of central bank’s verbal guidance, which measures communications about the future based on the frequency of future verbs in monetary policy statements. We consider the press conferences of the European Central Bank as a test case. First, we analyze the main determinants of our index and estimate...

Government debt up to 89.5% of GDP in euro area

At the end of the first quarter of 2017, the government debt to GDP ratio in the euro area (EA19) stood at 89.5%, compared with 89.2% at the end of the fourth quarter of 2016. In the EU28, the ratio also increased from 83.6% to 84.1%. Compared with the first quarter of 2016, the government...

Seasonally adjusted government deficit down to 0.9% of GDP in the euro area

In the first quarter of 2017, the seasonally adjusted general government deficit to GDP ratio stood at 0.9% in the euro area (EA19), a decrease compared with 1.1% in the fourth quarter of 2016. In the EU28, the deficit to GD ratio stood at 1.0%, a decrease compared with 1.2% in the previous quarter. These...

2017 Review of Employment and Social Developments in Europe – Questions and Answers

How is the labour market and social situation in the EU developing? The labour market recovery is continuing and strengthening further. During the four years of recovery following the recent crisis, economic growth has been moderate but steady. Since 2013, 10 million net jobs have been created in the EU, and employment growth has been...

Annual inflation down to 1.3% in the euro area

Euro area annual inflation was 1.3% in June 2017, down from 1.4% in May. In June 2016 the rate was 0.1%. European Union annual inflation was 1.4% in June 2017, down from 1.6% in May. A year earlier the rate was 0.1%. These figures come from Eurostat, the statistical office of the European Union…(continue)

Industrial production up by 1.3% in euro area

In May 2017 compared with April 2017, seasonally adjusted industrial production rose by 1.3% in the euro area (EA19) and by 1.2% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In April 2017 industrial production rose by 0.3% in euro area and by 0.1% in the EU28. In...

Several regions of Spain, France and Italy top tourism destinations in the EU

In the European Union (EU), tourism is above all an internal affair. Nearly 90% of tourism nights in the EU are spent by EU residents, meaning that tourists from outside the EU account for only around 10% of the total. And when travelling, EU residents spent almost 85% of their tourism nights within the EU,...

First population estimates

EU population up to almost 512 million at 1 January 2017 Increase driven by migration On 1 January 2017, the population of the European Union (EU) was estimated at 511.8 million, compared with 510.3 million on 1 January 2016. During the year 2016, as many births as deaths were recorded in the EU (5.1 million),...

Re-industrialization and Migrants Integration Should be Debated at Longer Term

-by ANDREA REA*- Queries: What is your view on social inequalities in Europe, what are the differences between the North and South of the EU? AR: The inequalities have their roots not only in salaries, but also in estate and property. The four Mediterranean countries and those of Eastern Europe, of course, are not the...

Millennials and peace in a globalised world

-by EVIN INCIR*- “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring...

Can the next European elections actually be about choosing alternative scenarios?

-di ROBERT LADRECH*- The short answer is ‘yes’ but this requires a fundamental shift in terms of the alignment of national policies and politics with EU policy competences. At present, in most EU member states, European elections are considered by the mainstream parties of the centre-left and centre-right as the ‘poor cousin’ of the national...