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This policy paper summarizes four corridor studies on bilateral social security agreements (BSSAs) between four European Union (EU) member and two nonmember states, draws conclusions on their results, and offers recommendations. BSSAs between migrant-sending and migrant-receiving countries are seen as the most important instrument to establish portability of social security benefits for internationally mobile workers. Yet, only about 23 % of international migrants profit from BSSAs and their functioning has been little analyzed and even less assessed. The four corridors studied (Austria-Turkey, Germany-Turkey, Belgium-Morocco, and France-Morocco) were selected to allow for comparison of both similarities and differences in experiences. The evaluation of these corridors' BSSAs was undertaken against a methodological framework and three selected criteria: fairness for individuals, fiscal fairness for countries, and bureaucratic effectiveness for countries and migrant workers. The results suggest that the investigated BSSAs work and overall deliver reasonably well on individual fairness. The results on fiscal fairness are clouded by conceptual and empirical gaps. Bureaucratic effectiveness would profit from information and communication technology-based exchanges on both corridors once available. JEL Classification: D69, H55, I19, J62 [ABSTRACT FROM AUTHOR]

In response to the fi nancial crisis, the ECB has had to adopt new instruments to support the euro area economy and preserve the integrity of the single currency. This has challenged the current framework of the Monetary Dialogue exercise. This paper briefl y assesses the implications of enhanced transparency and 'forward guidance' for the effectiveness of the ECB's policies. It then checks whether the Monetary Dialogue works, and if and how the current Monetary Dialogue framework needs to change in order to fulfi l its goal. [ABSTRACT FROM AUTHOR]

The aim of the study is to determine the pace and directions of changes (understood as: improvement or deterioration) occurring in selected areas of sustainable development of EU Member States. The paper analyzes dynamics of changes in selected areas of sustainable development monitored on the basis of headline indicators published by Eurostat from 2008 to 2015. In the paper, three variants of reference points of synthetic measure of development were considered. On the basis of the obtained results, the countries in which the improvement in the sustainable development and its deterioration can be observed were identified. The results have confirmed the existence of significant developmental disparities between EU Member States in this field, but it should be noted that the obtained results depend on the methodological approach both to the selection of features and the adoption of a specific standardization formula, as well as the considered variants of reference points. The results obtained can be utilized in subsequent years to examine the directions of change observed both from the point of view of European Union as one organization, and the individual EU Member States. [ABSTRACT FROM AUTHOR]

Central and Eastern European (CEE) countries are struggling with internal and external macroeconomic and social factors in their catching-up strategies to be closer, as economic wealth, to the Western developed European countries. In these ex-communist countries, institutional factors could be seen as critical for success in narrowing the income gap. The paper proposes an analysis of the impact of economic and financial development and globalization on the income gap in 11 Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czechia, Estonia, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia) for the period of 1996 to 2019, taking into consideration institutional factors. The study analyses the variables: transition coefficient as a proxy for income gap, GDP per capita, KOF Financial Globalisation Index, Financial Development Index and World Bank Institutional Indicators in a panel approach methodology and estimation of FMOLS and DOLS equations. The paper's findings show that all considered factors have a significant contribution to the income gap in the examined period of time. Economic and financial development, as well as institutional quality, is positively associated with the closing income gap, while globalization has a negative influence. It is also revealed the direction of the causality relationship between the considered variables: from economic and financial development, globalization and institutional quality to the income gap. These findings suggest some policy recommendations in support of the continuation of the European integration process. [ABSTRACT FROM AUTHOR]

This paper presents the impact of decreasing MFI interest rates on household deposits and saving goals in 12 Monetary Union member countries in the years 2009-2015. It analyses tendencies in household deposits (overnight, with agreed maturity and redeemable at notice), and att empts to link them with certain household saving motives (target, retirement and precautionary). The paper identifies those deposit categories which appeared as sensitive to declining interest rates and indicates the Eurozone countries whose populations are expected to revise their savings plans. Precise implications are drawn for target saving motives of households in Austria, Cyprus and Malta. However, in the case of two other motives, the analysis does not conclude on the impact of decreasing MFI interest rates. [ABSTRACT FROM AUTHOR]

Copyright of Econometrics / Ekonometria is the property of Sciendo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The central banks' financial strength supports financial stability. Now in a low interest rate world it should receive much more attention as many central banks had experienced financial difficulties mainly due to operating and valuation losses. The purpose of this paper is to investigate the determinants of central banks' financial strength and find the most appropriate measure of it. The empirical analysis is based on data from a ten-year panel for central banks from Central and Eastern European Countries that are members of the European Union (EU), but have not adopted the euro. [ABSTRACT FROM AUTHOR]

This paper is aimed at answering the question of whether absolute income (GDP per capita) beta-convergence exists in the case of regions in new EU Member States before the period of 2000-2008 and during the 2008-2011 crisis. The sample consists of 211 regions (NUTS 3-level) of Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovenia and Slovakia. The research is based on econometric models, namely on the spatial lagged model (SLM), the spatial error model (SEM) and the Durbin spatial model which contrary to the ordinary least squares the (OLS) model include possible spatial dependencies. The SLM and SEM models as well as the Durbin spatial model detect the absolute income beta-convergence on the level of about 1% during the years 2000-2008. Additionally, models do not confirm the existence of absolute income beta-convergence during the crisis of 2008-2011. SLM models (which offer the most reliable findings) find a spatial correlation (measured by the rho-parameter) at a level of 0.75 during 2000-2008 and 0.35 during 2008-2011. Thus, absolute income beta-convergence in the case of NUTS 3 regions in 10 new EU Member States existed only in the pre-crisis period and this period is characterized by much stronger spatial dependencies than the period of 2008-2011. [ABSTRACT FROM AUTHOR]

The aim of this paper is to study the economic polarization in countries of the EU at NUTS 2 level in the years 2007-2012. The studies have to decide on positive or negative verification of the hypothesis, which states that the economic crisis of 2008-2013 had an influence on rising economic polarization in EU countries. The method used in this article is an application of some measures of economic polarization and inequality of income distribution. The carried out research did not allow for the positive verification of the hypothesis. Only in a few countries did the economic crisis have an influence on a reduction of the middle class. In most cases the economic collapse did not play any role in the raising of the economic polarization index. The statistical data used in this paper was taken from the following databases: Statistical Yearbook of the Regions - Poland from 2009 to 2013 and Eurostat - Regional statistics by NUTS classification*. [ABSTRACT FROM AUTHOR]

This paper focuses on the relationship between exporting and the labour markets of the Western Balkan economies within a macroeconomic and microeconomic framework. Within the macroeconomic framework we investigate the Western Balkan countries' evolution of the bilateral intra-industry trade share with European Monetary Union members and compare this with the differences in bilateral unit labour cost dynamics. The microeconomic analysis rests on enterprise-level cross section data collected during the crisis period and investigates whether exporters help to create additional jobs in the region in comparison to entrepreneurs oriented towards national market. The results show that trade patterns between Western Balkan economies and EMU trading partners did not exhibit any significant changes in trend. On the other hand, it seems that during the recession period most Western Balkan economies adjusted their unit labour costs, probably in order to boost competitiveness. Microeconomic analysis revealed that, although there are some positive differences between exporters and non-exporters, exporters do not create additional employment. [ABSTRACT FROM AUTHOR]

The course of the development of non-life insurance markets in CEE countries differs in many aspects from the Western-European countries. This study shows how these changes performed in the eight CEE countries, that overcame transition in similar time and accessed the European Union in May, 2004. In this paper (as the first part of the study) wider attention was given to the changes of products' structure of non-life markets. It was found that motor third party liability insurance still remains the most relevant insurance line in the non-life markets of the examined countries. [ABSTRACT FROM AUTHOR]

The objective of the paper is to reveal the methodology used to examine the tax gap and calculate the tax gap for all EU states over 2011-2014. The paper draws on the review of reference literature addressing the tax gap in the context of tax avoidance and tax evasion. The paper features the GDP size across countries so as to demonstrate the overall level of the shadow economy compared to the aggregate tax burden. Finally, for the first time, the calculations of the tax gap for all EU states over 2011-2014 were displayed. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to assess the proposals of taxation of the financial sector and to identify the advantages and disadvantages of each proposal. This paper is based on the actual reports of international economic organizations (International Monetary Fund, European Commission), statistical data and a number of analyses carried out by economists across a number of geographies. This paper identifies the most common types of taxation imposed upon the financial sector, and provides discussion of their costs and the revenues they are likely to bring. Such estimates can be seen as valuable research material, and they often justify the conceptual reasoning for application of such tax. [ABSTRACT FROM AUTHOR]

Entrepreneurship is considered a significant determinant for the economic development of a country but is also important for new job creation and innovation. Understanding and examining the factors which affect the decision of individuals to become entrepreneurs play a significant role for the decision makers in order to identify the adequate measures that can support and develop the entrepreneurial activity. The main purpose of this paper is to identify the key factors that determine entrepreneurial motivations of individuals, but also to analyze empirically the impact of these factors for a sample of 18 countries members of the European Union, for a period between 2002 and 2015. We performed our empirical analysis using data offered by the Global Entrepreneurship Monitor and the World Bank. We used panel data regression models. As dependent variables for our econometric models, we used, alternatively, total entrepreneurial activity rate, necessity driven entrepreneurial activity, and opportunity-driven entrepreneurial activity. As regards the independent variables considered, we took into account six macroeconomic indicators and four indicators which measure the perceptions and attitudes regarding entrepreneurship. The results of the panel data regression models show that the entrepreneurial motivations are influenced by the level of economic development of a country and total tax rate (only necessity entrepreneurs), unemployment rates, inflation rates and access to financial resources. Also, all the considered perceptual indicators (fear of failure, entrepreneurial intentions, perceived capabilities, and opportunities) have a significant effect on entrepreneurship according to its motivation, but these effects differ according to the motivation of individuals. Overall, this paper emphasizes that the economic conditions from an EU country but also the perception of entrepreneurs are important determinants of entrepreneurial motivation. [ABSTRACT FROM AUTHOR]

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This paper first introduces 'Europeanisation', a key concept to enable examination of EU influence, policy transfer and convergence. It then outlines the broad parameters of European social policy and historical developments in European social policies, politics and institutions, drawing particular attention to Ireland's contribution to shaping EU social policy. Thereafter, the article takes a chronological approach to focus on how EU policy and practice shaped the Irish welfare state and public administration of Irish social policy. This article examines four phases of Ireland's EU membership, and asks how Irish social policy was influenced in each of these stages and how Ireland influenced EU social policy. Stage one examines the 1970s to mid 1980s, stage two takes in the mid 1980s to the late 1990s, stage three reviews the late 1990s to 2007 and stage four relates to the post-2007 crisis era. The paper concludes that Irish social policy has been significantly influenced by EU social policy, and overall this influence has been largely positive, but also that Ireland has in turn influenced EU social policy, and this influence has been mixed but also largely positive. Over time, through hard law and softer Europeanisation processes, there has arguably been some convergence in social policy across the EU, and the EU has played some part in the modernisation of Irish social policy. The conclusion reflects on the future, suggesting Ireland should seek to once again influence the EU towards a more progressive social direction. [ABSTRACT FROM AUTHOR]

Copyright of EU Agrarian Law is the property of Sciendo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper deals with the environmental aspects of combustor modification on Nuovo Pignone gas turbines. The mentioned company is engaged in the transport of natural gas to the Slovak Republic and further to other European markets. Legislation considering emissions is getting stricter every year. Original Nuovo Pignone gas turbines would not be able to meet the required emission limits for NOx and COr determined by legislation. Therefore, the company decided to modify seven gas turbines. Due to this reason, the combustion sections had to be replaced with a dry low emission system. These modifications were aimed at improvement of impacts of temperature on the emissions of NOx, since the NOx emissions are defined as thermal (there is an increase in emissions with the increase in temperature). Emissions were monitored continuously by an emission monitoring system (these data are continuously sent to the Office of Environment) and manually by a HORIBA PG-250 analyser. Gas delivery point is located in the flue pipeline, and data was processed by means of PC after reaching this point. The results lead us to conclusion that modification was an efficient and good solution in terms of economy, because this solution reduced emissions (from 300 mg·m-3 to 50 mg·m-3) and contributed to meeting of the stricter emission limits (from 370 mg·m-3 to 100 mg·m-3). Monitoring of the impacts of growing performance of equipment on emissions represents a possibility for further development of science in this field. [ABSTRACT FROM AUTHOR]

This paper studies whether a monetary union can be managed solely by a rule-based approach. The Five Presidents' Report of the European Union rejects this idea. It suggests a centralisation of powers. We analyse the philosophy of policy rules from the vantage point of the German economic school of thought. There is evidence that a monetary union consisting of sovereign states is well organised by rules, together with the principle of subsidiarity. The root cause of the euro crisis is rather the weak enforcement of rules, compounded by structural problems. Therefore, we suggest a genuine rule-based paradigm for a stable future of the Economic and Monetary Union. [ABSTRACT FROM AUTHOR]

The objective of this paper is to evaluate, in light of statistical data, Poland's capacity for dynamic development in the future and its possibilities for the attainment of its ambitious economic and social goals. The analysis was based on the latest available data drawn primarily from Eurostat. They concern a number of EU countries, chosen as the reference countries in the paper. The author discusses different measures for the evaluation of the economic and social processes to assess Poland's development opportunities in the coming years. For the sake of simplicity of presentation, the author has divided the measures into short- and long-term indices. Short-term analysis shows that Poland is successful in the short run. Unfortunately, long-term indices, which are rarely discussed by the public, reveal a grim picture of the performance of Poland in comparison with the reference EU countries. The author concludes that Poland is a country which does not pay much attention to its long-term socio-economic development. [ABSTRACT FROM AUTHOR]

The creation of a single currency is deemed to produce further heterogeneity in regional trade, as regions differ in their exposure to trade with other European countries. It is possible to disentangle two separate effects on bilateral trade, namely the 'exchange rate volatility effect' (from exchange rate fixing in 1999) and the pure 'common currency effect' (resulting from the issuing of a new currency in 2002). This paper presents an empirical analysis that shows evidence of a regional concentration of currency union effects in a few Spanish regions. [ABSTRACT FROM AUTHOR]

The main aim of the paper is to investigate the empirical relationship between research and development (R&D) expenditures and economic growth in the European Union member states in the period of 2000-2013. The empirical analysis is based on panel data regressions. The estimated model is the production function type standard growth model extended with R&D stock variable. The results show a statistically significant impact of R&D expenditures on the economic growth in the EU countries. The significance for R&D coefficient remains robust to different sub-periods, but the level of significance decreases as a sub-sample of new EU countries was considered. [ABSTRACT FROM AUTHOR]

This paper gives an overview of the macroeconomic relations of advertising expenditure. The paper critically reviews studies about how aggregate advertising expenditure is related to aggregate consumption, economic growth and economic cycles. The cause-and-effect relation between aggregate advertising expenditure and aggregate consumption is not clear. However, a change in advertising expenditure can serve as an indicator at the macro level. Further, the aggregate advertising expenditure of thirteen Central and Eastern European countries (CEECs) is analysed between 2006 and 2011, emphasizing the effect of the economic crisis that started in 2008. According to the findings, an unambiguous relationship between aggregate advertising expenditure and macroeconomic factors cannot be confirmed. However, investigating four CEECs in the longer term, almost all relations are significant. [ABSTRACT FROM AUTHOR]

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The objective of this paper is to offer a better understanding of the situation on emigration, with a focus on the emigration of the university-educated individuals, from 6 different Eastern European countries, namely Bulgaria, the Czech Republic, Hungary, Poland, Romania and the Slovak Republic. The period studied is 1980-2010, with a greater emphasis on the last decade, as the emigration from these countries increased sharply especially after their adhesion to the European Union. A regression analysis was performed, whose purpose is to determine the main factors that influence the brain drain. Data on tertiary educated emigration rates, unemployment rates of the tertiary educated, GDP per capita, wages adjusted for inflation, consumer price indexes and education expenditures were collected for the period 1980-2010 (5 year intervals) and in some cases 2011 as well, for all 6 Eastern European countries. The results showed that Romania and Poland are the most affected by the brain drain. The factors that were significant in shaping emigration were the wages (influenced by GDP) in these countries, as well as the education expenditure (influenced by the inflation). [ABSTRACT FROM AUTHOR]

Subject of the paper is the European Union's (EU) Regional policy and its connection with the EU Multiannual Financial frameworks (MFF), strategies and funds. The object is the impact of the EU Regional policy on Bulgaria and Romania. The research aims to outline the way the EU collects its resources, and how it directs them to certain countries, or their regions, based on priorities set in the EU strategies, bond in MFF and budgets. Being EU member states for 7 years, the two countries are still away from the average economic indicators of EU-28. However, there is an improvement, but it is not enough. There are huge disparities not only between the EU member states, but also within the regions of Bulgaria and Romania. The paper presents the main outcomes for the new programme period 2014-2020, and the possibilities for the two target countries to catch up the lag behind the EU standards, benefiting from the EU Regional policy. [ABSTRACT FROM AUTHOR]

The article intends to be a screening of family benefits in the 28 Member States of the European Union (EU) and to contribute to the research of shared trends with respect to family approach in these countries. Four types of family benefits including eight distinctive categories are analysed: child-benefit, child care allowances, child-raising allowances, and other benefits (birth and adoption grants, allowance for single parents, special allowances for children with disabilities, advance payments for maintenance and other allowances). The paper is based on primary and secondary analysis of 28 sets of national data provided through the European Union's Mutual Information System on Social Protection (MISSOC). Three categories of member states are considered: founder member states of the EU, other 'old' member states, and the new Central and Eastern ones. Chronological development of national regulations with impact on family benefits is analysed in connection with the moment of becoming a member state. Various forms of family benefits legislation and their main subjects of interest are further researched. The last part of the article looks at the coverage of family benefits. Seven member states operate in this respect based on regulations adopted before EU accession. Belgium, Finland, and Lithuania have the 'most preserved' family regulations per category of member states. The first three topics of family regulations are: child, family, and allowance / benefit. The most frequently provided family benefits are: birth and adoption grants, and special allowance for children with disabilities. All eight family benefits are provided in France, Finland, Hungary, and Slovenia. Only two types of family benefits are available in Ireland, Spain, and Cyprus. [ABSTRACT FROM AUTHOR]

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Sustainability-oriented tax-based own resources would do more than just help to close the existing sustainability gaps in EU taxation.Member States primarily consider their individual net positions, i.e. the difference between their payments into the EU budget and the transfers they receive out of it, when determining the benefits derived from the EU (budget). Much less attention is paid to indirect benefits from EU membership and expenditures, which generally exceed Member States' contributions to the EU budget considerably. [ABSTRACT FROM AUTHOR]

Copyright of European Countryside is the property of Sciendo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper aims to identify the prioritization of monetary policy final objectives promoted by central banks (CBs) in Central and Eastern Europe that use a strategy of inflation targeting. The analysis is built to determine the behavior of the monetary authorities in the Czech Republic, Poland, Romania and Hungary relative to the short-term nominal interest rate setting based on the estimation of an extended Taylor-type monetary policy rule, which additionally includes the exchange rate and a set of variables aimed at exploring the interactions between the monetary policy and financial stability. The modeling is performed in the context of a semi-structural dynamic stochastic general equilibrium (DSGE) model with implicit micro foundations. The main results revealed a strong orientation of the selected monetary authorities geared towards their fundamental objective of ensuring and maintaining price stability, but in parallel, towards stabilizing the exchange rate and the real economic activity, as well as the existence of moderate guidelines of limiting, through the monetary policy, the uncontrolled expansion of private credit and the formation of a real estate prices bubbles (leaning against the wind). [ABSTRACT FROM AUTHOR]

The European Union is regarded as a union of diverse territories, but this defi nition applies to most European Union member states, too. How best should member states manage diversity to maintain the Union? What are the main triggers for autonomy demands in a Union? This article contends that the progressive expansion of regional identities as a response to European integration acts as the main trigger of demand for regional autonomy. This paper draws upon descriptive evidence from two affl uent and distinctive Spanish regions, Catalonia and the Basque Country, from 1982 to 2007. Explorative regression analysis of survey data suggests that sub-central identity exceeds that of taming regional redistribution in determining support for regional autonomy. [ABSTRACT FROM AUTHOR]

The paper strives to determine the impact of fiscal variables on factors determining the dynamics of public debt in European Union countries. Based on the literature, the dynamics of public debt are determined by changes of three elements: the primary balance, interest-rate-growth-differential and the change of government assets. Therefore, it seems reasonable to estimate the dynamics of these three values to find the variables crucial for limiting the growth of public debt. Three groups of dynamic panel regressions were estimated based on the one-step Generalized Method of Moments. The data was collected for the 1995-2015 period for 27 EU countries. Dependent variables included: primary balance, interest-rate-growth-differential and change of government assets. Independent variables consisted of: interest payable to GDP ratio, unemployment rate, squared unemployment rate, FDI stock to GDP, net FDI inflow to GDP, general government expenditures to GDP, share of social security expenditures and openness of the economy measured by the ratio of export and import to GDP. On the basis of statistical data, three components of debt changes were distinguished, and estimations of the dynamic panel regressions were applied to find the impact of independent variables. According to the basic models, the primary balance is lower for: countries with higher unemployment, greater FDI stock and higher general government expenditures. The interest-rate-growth-differential is lower in the case of: high subsidies and for a more open economy. However, unemployment and FDI remain the most important determinants of this variable. The change of government's assets ratio decreases as FDI net inflows or the share of expenditures to GDP increase as well as in the case of very high unemployment. [ABSTRACT FROM AUTHOR]

In May 2018, the European Commission published its proposal on the Multiannual Financial Framework (MFF) for the period 2021-2027. Preparation for the post-2020 MFF requires comprehensive analysis of the characteristic features of the EU budget and of the priorities that should be supported at the EU level. The duration of the MFF has not received great attention in academic analyses and official documents, but it has strategic importance in terms of achieving goals and implementing policies. This article analyses the advantages and disadvantages of five-year, seven-year and ten-year MFF durations, as well as their consequences. [ABSTRACT FROM AUTHOR]

Copyright of Econometrics / Ekonometria is the property of Sciendo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper uses the Panzar-Rosse H-statistic to provide empirical evidence on the impact of competitive behaviour of banks on risk-taking, using the Fixed Effects Vector Decomposition Method on panel data of banks in 15 Central and South-Eastern Europe countries during the period 1999-2009. The findings suggest that banking sector competition has had a negative impact on banks' risk-taking implying that competition contributed to the improvement of the loan-portfolio quality. However, the results differ significantly when distinguishing between the EU and non-EU countries of the CESEE region. While for the EU countries the relationship between banking sector competition and risk-taking remains negative, this relationship is positive for the non-EU countries of the region, suggesting that an increase of competition in the non-EU countries may be detrimental for the stability of the banking sector in these countries. These results are robust to different model specifications and measures of competition. [ABSTRACT FROM AUTHOR]

On 6 July 2017, after four years of negotiation, the EU reached an agreement with Japan over the main elements of a comprehensive free trade agreement. The breakthrough came at a time when progress on multilateral trade negotiations at the global level seemed out of reach and EU bilateral trade agreements faced strong public opposition. This paper examines the content of the new agreement with a view to global trade dynamics and assesses its main trade policy implications. [ABSTRACT FROM AUTHOR]

This paper analyses the adjustment mechanism in the euro area prior to the crisis. Results show that the real exchange rate adjusted to redress cyclical divergences and that after monetary unification, real exchange rate dynamics became less reactive to country-specific shocks but also less persistent. Regulations affecting price and wage nominal flexibility and employment protection play a role in the adjustment mechanism. Indicators of product and labour regulations appear to matter for both the reaction of price competitiveness to cyclical divergences and for the inertia of competitiveness indicators. [ABSTRACT FROM AUTHOR]

Latvia is covered by the European Union Emissions Trading System (EU ETS) and therein 80 participants from Latvia have participated. The goal of the paper is to analyse the impact of the EU ETS on the sustainable development of its participants in Latvia. The concept of sustainable development is explored with respect to both macro and micro scale and in the context of sustainable development the EU ETS is described. The impact of the EU ETS on its participants in Latvia is considered by means of methods of quantitative and qualitative analysis. It has been established that in past the participants of the EU ETS from Latvia had generally beneficial positions in the EU ETS; hence although the EU ETS did not directly promote greenhouse gas emission reductions, it provided opportunities to gain additional profits and many of the EU ETS participants in Latvia made use of them. In addition, certain interrelationships have been identified between the data on the EU ETS participants performing EUA trading and the data on the EU ETS participants not performing EUA trading. It has been concluded that the EU ETS might have contributed towards the sustainable development of its participants in Latvia within its certain dimensions. [ABSTRACT FROM AUTHOR]

This paper empirically analyses whether full ownership separation strengthens rail in comparison with other transport modes - a major goal of European and national transport policies. Data from nine European countries in the period 1994-2009 are evaluated, with the end result that the positive effects of full separation cannot be confirmed. On the contrary, full separation significantly reduces the share of rail in passenger transport, while in the freight segment, the regressions yield ambiguous results. [ABSTRACT FROM AUTHOR]

Copyright of Financial Internet Quarterly 'e-Finanse' is the property of Sciendo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The intention of the following paper is to present some stylized features of the financial integration of the four basin regions composed by the Baltic Sea, Black Sea, Caspian Sea and Mediterranean Sea regions. It discusses the developments, trends and features of the International Investment Position (IIP) in the regions. Using volume based indicators we compare and identify the gaps in them, whilst distinguishing between the EU e non-EU members and providing an overview of the asymmetries and the convergence as a result of the integration in the different financial markets. After reviewing the trends, the final chapter points to those areas that need further efforts to achieve greater regional integration. [ABSTRACT FROM AUTHOR]

This paper analyses the effects of decoupling (as introduced in the 2003 reform of the EU Common Agricultural Policy) on farm income and investment behaviour. The results of a dynamic multi-objective household model for 80 farm households in 8 EU countries are analysed and presented through a measure of investment-income elasticity as a reaction to decoupling. The results highlight the differing and contrasting reactions of farm households to policy changes. The main conclusion is that the diversity of farm specialisations and the dynamics of long-term adaptation should be taken into account more explicitly in the evaluation of policy impacts on EU farming systems. [ABSTRACT FROM AUTHOR]

Appropriate risk assessment plays a fundamental role in the design. . The authors propose a possible method of design risk mitigation, which follows recommendations included in Eurocode 7. The so-called "Observational Method" (OM) can produce savings in costs and programmes on engineering projects without compromising safety. The case study presented is a complex design solution that deals with the heavy foundations of a gantry crane beam as one of the elements of a Deepwater Container Terminal extension. The paper presents a detailed process of the design of the rear crane beam being a part of the brand new berth, together with its static analysis, as well as the long-term results of observations, which have revealed the real performance of the marine structure. The case presented is based on excessive preliminary field tests and technical monitoring of the structure, and is an example of a successful OM implementation and design risk mitigation. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to analyze the sustainability report for the communication of Corporate Social Responsibility (CSR) in a nonprofit organization. To this aim, an Italian case study is analyzed: the Fondazione Renato Piatti Onlus, a nonprofit organization of Social Utility. In the first part, we analyze the CSR for nonprofit organizations and the sustainability report (also called 'social balance'). In the second part, we present evidence from the case study. The research is exploratory in nature when considering the connection of corporate social responsibility efforts to the nonprofit sector, a qualitative methodology was chosen over quantitative methods. Specifically, the case study was used to show what strategy a nonprofit organization can develop. Nowadays CSR strategies received a growing attention from both businesses and nonprofit organizations but also from the EU which forced large public-interest entities to present a social balance. For nonprofit organizations, applying social responsibility is not a voluntary issue. Nonprofit organizations have an ethical obligation to their stakeholder and to the public to conduct their activities with accountability and transparency. Scholars have increasingly been studying the impact of corporate social responsibility as a business strategy in for-profit companies. However, there is still lack of researches on how nonprofit organizations implement CSR into the strategy. As a consequence of the above remarks, a large part of nonprofit organizations fails to correctly implement a successful long term CSR strategy. The Fondazione Renato Piatti Onlus belongs to that group that has been able to incorporate social responsibility within the organization, then expanding its content into a social report drawn up in accordance with the guidelines of the Italian Agency for the Third Sector. [ABSTRACT FROM AUTHOR]

The aim of the paper is to analyze the status of non-financial information disclosure in the European Union in order to evaluate the level of acceptance of social responsibility practices. The research is divided into two sections and the approach used is mainly theoretical and qualitative. In the first part the UE financial and nonfinancial information regulations are analyzed; the European Union launched a process of harmonization then subsequently it moved to the standardization process: the Regulation (EC) No. 1606/2002 is part of the standardization process (It must be applied in its entirety across the EU) while the Directive 2014/95/EU is part of the harmonization process (it sets out a goal that all EU countries must achieve). The Directive 2014/95/EU states that "large undertakings [...] shall include in the management report a non-financial statement [...]" thus making mandatory the preparation of non-financial statements. In the second part of the research, not considering the firm only as a system for the production of financial/economic value but also as an economic social actor which operates in a social environment to which it belongs and with which it interacts, the concept of social entrepreneurship is explained. Social entrepreneurship belongs to the entrepreneurs who draw up the social balance, required or permitted by the UE legislation. For this reason, the introduction of obligations in disclosing non-financial information could lead to the increase of entrepreneurship, with positive consequences in the creation of tangible benefits to both the business community and the global community. [ABSTRACT FROM AUTHOR]

This paper analyses the impact of the financing arrangements for planned cross-border health care within the European Union. A financial arrangement is taken to provide a financial incentive but may also involve payment risks and administrative burden. For the pathways given by the Social Security Regulations (883/2004 and 987/2009) and the EU Directive 2011/24/EU, we investigate how the associated financial arrangements act on providers, patients and on publicly funded health insurance. First, the Regulations can induce cross-border health care that will increase domestic health care expenditure and may threaten national health policy by setting an incentive for patients to go abroad for health care not covered by domestic health insurance. Second, the financial arrangement of the Directive may induce cross-border health care which will lower domestic health care expenditure. However, due to considerable payment risks and administrative burden on both patients and providers, these benefits will not be reaped in full. Moreover, in the presence of national cost containment policies, the Directive may provide an incentive for cross-border health care that is too strong. Finally, due to the requirement to pay upfront, the financial arrangement also suffers from a lack of equity of access to health care provision abroad. [ABSTRACT FROM AUTHOR]

The reformation of the bank systems' regulation and supervision in The European Union was founded on a macroprudential approach to monitor systemic risks and the vulnerabilities in a more effective way. Considered as the backbone of the new macroprudential supervision architecture, the Bank Union raises intense debates among the catching up economies. The fact that there are few studies on the costs and benefits of joining the Bank Union for the Central and Eastern European countries, explains the different views of the decision makers concerning this issue. The study stresses the manner in which macroprudential policies were implemented in Romania, as a particular case among the CEE countries, and the extent of their contribution to mitigating vulnerabilities and maintaining financial stability. The paper summarises the main arguments in favour of joining the Bank Union by emphasising the Romanian monetary authorities' stance compared to those of the neighbouring CEE countries. [ABSTRACT FROM AUTHOR]

The paper looks at the issues related to the research on and assessment of the contagion effect. Based on several examinations of two selected EU countries, Poland paired with one of the EU member states; it presents the interaction between their economic development. A DCC-GARCH model constructed for the purpose of the study was used to generate a covariance matrix Ht, which enabled the calculation of correlation matrices Rt. The resulting variance vectors were used to present a linear correlation model on which a further analysis of the contagion effect was based. The aim of the study was to test a contagion effect among selected EU countries in the years 2000-2014. The transmission channel under study was the GDP of a selected country. The empirical studies confirmed the existence of the contagion effect between the economic development of the Polish and selected EU economies. [ABSTRACT FROM AUTHOR]

This paper reverses the relatively frequent examined interrelation that links an impact of the public sector (and within it the general government sector) on the economy of the analyzed countries. The article analyses whether the size of the general government sector is a function of the economy expressed through variables that were adopted for research. Realization of the research objective that was raised in this article focused on typing, grouping and selecting variables that describe respectively: the economy and the size of the sector. For identifying relationships between variables assigned to each group, the LEM2 algorithm was used. Rules that were generated by the application of this algorithm provided not only information about the relationships of individual variables, but also provided an indication of how frequently they occurred in relation to the examined pairs of variables describing the economy and the size of the general government sector. The subject of research was EU Member States (their economy and public finance systems) and the research period was set on the years 2000 to 2013 (inclusive). Among the economic variables and variables describing the size of the sector, there were included both standard variables used in the analyzes dedicated to macroeconomic issues as well as variables that the authors' team selected in order to test their applicability in describing the economy and the size of the general government sector. Such a composition of the variables is well-founded as, besides the main objective of this article (i.e. to establish a link between the economic situation and size of the general government sector) the additional effect of research, and that is the optimization of the selected variables that are used to explain the relationship of the economy and the size of the sector. [ABSTRACT FROM AUTHOR]