Regional employment dynamics in the EU: structural outlook, co-movements, clusters and common shocks

This paper considers the evolution of employment across 145 European regions (between 1983 and 1997) at a level of industrial disaggregation greater than that usually considered in the literature, using both shift-share and panel regression techniques. The results highlight the importance of both the regional and the industrial dimensions. National boundaries are not particularly significant in singling out clusters of regions with similar levels of employment growth. What matters is industrial structure: manufacturing employment is correlated better across countries and regions than is aggregate employment, and the most dynamic regions are those in which the development of services is grafted onto a strong manufacturing sector. While the evidence confirms that there is a growing integration among the European regions, it does not corroborate the existence of a core regions located in Northern Europe with more uniform employment dynamics

Europe and the Euro: Integration, Crisis and Policies

This book offers a fresh perspective on the recent Eurozone “double crisis” and its related economic policies. The authors present empirical evidence which sheds new light on the growing economic and political debate on the future of the Euro, the Eurozone and the EU. The book investigates and assesses the impact of the crisis with particular reference to monetary and fiscal policy, whose protracted austerity approach has dampened economic growth. In their discussion of the long-run European integration process, the authors emphasize the original weaknesses in the construction of the European Monetary Union and examine its failure to respond to the recent crisis. The concluding chapter focuses on the need for crucial reform in European governance and discusses the impact of the UK’s recent EU membership referendum. Scholars, students and members of the general public with an interest in the future of the Eurozone will find this work thought-provoking, instructive and highly informative

Domestic demand and global production in the Eurozone: A multi-regional input-output assessment of the global crisis

This paper studies the effects of domestic and foreign demand impulses in euro area economies following the Great Recession of 2008–2009 and the Eurozone crisis of 2011-2012. Using a global Input-Output framework we apply a set of metrics to assess spillover effects of international trade in intermediates triggered by the dynamics of final demand. Our findings suggest that while cross-country trade spillovers have played a crucial role during the Great Recession, they have had a moderate impact when compared with the role of domestic sources of final demand during the Eurozone crisis. Hence, a strategy of coordinated fiscal austerity cannot be sustained by empirical evidence

A Markov decision process framework for optimal operation of monitored multi-state systems

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Partially observable Markov decision processes for optimal operations of gas transmission networks

International audienc