824 resultados para Economic effects


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La ricerca è mirata a valutare come l’attuazione delle politiche ambientali di Sviluppo Rurale possa contribuire al miglioramento del paesaggio, analizzando i suoi effetti territoriali. Nell’ambito del caso di studio della Regione Emilia-Romagna vengono analizzate le misure agro-ambientali e di forestazione agricola dal 1994 al 2011, comprendendo gli interventi realizzati con i Regolamenti (CEE) 2078/1992, 2080/1992 e dai Programmi di Sviluppo Rurale (PSR) 2000-2006 e 2007-2013. In particolare, sono approfonditi i fattori che determinano la partecipazione territoriale delle misure agro-ambientali, individuate a livello aziendale le motivazioni alla partecipazione per le azioni con effetto diretto sul paesaggio, valutati i conseguenti effetti tecnico-economici e analizzati gli impatti degli interventi sul paesaggio a livello territoriale, in funzione del contesto ambientale. I risultati hanno consentito di approfondire quanto già riportato nelle valutazioni istituzionali dei PSR e in letteratura scientifica, individuando i fattori determinanti della partecipazione a livello regionale. A questo scopo sono state utilizzate analisi di econometria spaziale che hanno permesso di evidenziare effetti di concentrazione territoriale delle superfici sotto impegno, in funzione delle priorità della misura e degli ordinamenti produttivi dei beneficiari. Sono stati inoltre analizzati gli impatti paesaggistici in un’area di studio ristretta a livello territoriale e aziendale: gli interventi specifici, in alcuni contesti territoriali dove è stata raggiunta una certa concentrazione delle superfici sotto impegno, hanno modificato il paesaggio rurale, differenziandolo rispetto alla matrice agricola intensiva in cui sono stati inseriti. A livello aziendale sono stati rilevati effetti significativi sull’economia dei beneficiari che scelgono di aderire a tali misure, con un diffuso effetto di riduzione della redditività. I contributi compensano in maniera differenziata i costi legati all’implementazione degli interventi in funzione della tipologia di intervento e delle scelte tecniche aziendali adottate per la loro gestione.

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The recent financial crisis triggered an increasing demand for financial regulation to counteract the potential negative economic effects of the evermore complex operations and instruments available on financial markets. As a result, insider trading regulation counts amongst the relatively recent but particularly active regulation battles in Europe and overseas. Claims for more transparency and equitable securities markets proliferate, ranging from concerns about investor protection to global market stability. The internationalization of the world’s securities market has challenged traditional notions of regulation and enforcement. Considering that insider trading is currently forbidden all over Europe, this study follows a law and economics approach in identifying how this prohibition should be enforced. More precisely, the study investigates first whether criminal law is necessary under all circumstances to enforce insider trading; second, if it should be introduced at EU level. This study provides evidence of law and economics theoretical logic underlying the legal mechanisms that guide sanctioning and public enforcement of the insider trading prohibition by identifying optimal forms, natures and types of sanctions that effectively induce insider trading deterrence. The analysis further aims to reveal the economic rationality that drives the potential need for harmonization of criminal enforcement of insider trading laws within the European environment by proceeding to a comparative analysis of the current legislations of height selected Member States. This work also assesses the European Union’s most recent initiative through a critical analysis of the proposal for a Directive on criminal sanctions for Market Abuse. Based on the conclusions drawn from its close analysis, the study takes on the challenge of analyzing whether or not the actual European public enforcement of the laws prohibiting insider trading is coherent with the theoretical law and economics recommendations, and how these enforcement practices could be improved.

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Within the international community there have been many calls for better protection of traditional cultural expressions (TCEs), for which classic instruments of intellectual property rights do not seem to fit. In response, at least five model laws have been advanced within the last 40 years. These are referred to as sui generis because, though they generally belong to the realm of intellectual property they structurally depart from classic copyright law to accommodate the needs of the holders of TCEs. The purpose of this paper is to provide a well-founded basis for national policy makers who wish to implement protection for TCEs within their country. This is achieved by systematically comparing and evaluating economic effects that can be expected to result from these regulatory alternatives and a related system or private ordering. Specifically, we compare if and how protection preferences of local communities are met as well as the social costs that are likely to arise from the different model laws.

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Regional integration proposals often require agreements between countries that differ in geographic size, resource endowments, transportation assets, technologies, and product quality. In this asymmetric setting, questions arise about the potential for mutual gains and the distribution of benefits among industries and workers in each country. This paper examines how regional integration between a small landlocked country and a large neighboring country--with a unique port facility that both nations must use to export goods--affects the wage and location decisions of firms, the allocation of labor, the welfare of each country's workers and firms, and aggregate measures of economic welfare in each country and the region. A simulated spatial labor market model is used to explore the economic effects of various stages of regional integration. Beginning with autarky as a benchmark case, we consider two forms of regional integration: partial mobility (mobile labor with geographically restricted firms); and full mobility (mobile labor and firms) with convergence of production technologies and product quality.

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La cultura se presenta hoy como un elemento determinante en la planificación del desarrollo, tanto por los efectos económicos que genera en términos de empleo, ingresos, y producción; como por ser un instrumento útil y eficaz para el fortalecimiento de la independencia, la soberanía y la identidad de los territorios en un mundo globalizado. El objetivo de este estudio es reconocer el impacto de la cultura en el desarrollo económico a través de un ejercicio empírico centrado en el Museo de Antioquia de la ciudad de Medellín (Colombia). Se aplicó una encuesta de percepción a los habitantes y visitantes de la ciudad. Los datos se sometieron a un análisis descriptivo y se formalizó un Modelo de Regresión Logística en busca de identificar y explicar los elementos que permiten vincular la cultura y el desarrollo. Se encontró que cerca al 90% de los encuestados afirmaron que la existencia del Museo de Antioquia es importante para el desarrollo económico de la ciudad de Medellín, identificándolo como un atractivo turístico y cultural que genera impactos positivos en el crecimiento económico y el bienestar social.

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Caracterizada por una verdadera maraña hidrográfica, las tierras entrerrianas presentan a mediados del siglo XX, rasgos productivos exclusivamente agro-pecuarios. La inundación de abril de 1959, considerada en la Argentina un "desastre nacional", deja bajo las aguas una extensión que supera los 20.000 km2. Desde Concordia hasta el delta y durante tres meses, la provincia observa un continuo manto hídrico sobre tierras ricamente productivas. Sorprendidos por la situación, los pobladores afectados buscan protección en las zonas altas y en ciudades cabeceras de Departamento. El gobierno nacional, provincial y los municipales diseñan estrategias de auxilio con el concurso espontáneamente solidario de la población. Aproximarnos a registros testimoniales escritos y orales, representativos de los que guarda aún la memoria colectiva, permite visualizar efectos socio-económicos producidos en el Departamento Gualeguaychú por la inundación del '59, evaluada en ese tiempo, la de mayor envergadura en la historia hidrográfica regional.

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Caracterizada por una verdadera maraña hidrográfica, las tierras entrerrianas presentan a mediados del siglo XX, rasgos productivos exclusivamente agro-pecuarios. La inundación de abril de 1959, considerada en la Argentina un "desastre nacional", deja bajo las aguas una extensión que supera los 20.000 km2. Desde Concordia hasta el delta y durante tres meses, la provincia observa un continuo manto hídrico sobre tierras ricamente productivas. Sorprendidos por la situación, los pobladores afectados buscan protección en las zonas altas y en ciudades cabeceras de Departamento. El gobierno nacional, provincial y los municipales diseñan estrategias de auxilio con el concurso espontáneamente solidario de la población. Aproximarnos a registros testimoniales escritos y orales, representativos de los que guarda aún la memoria colectiva, permite visualizar efectos socio-económicos producidos en el Departamento Gualeguaychú por la inundación del '59, evaluada en ese tiempo, la de mayor envergadura en la historia hidrográfica regional.

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Caracterizada por una verdadera maraña hidrográfica, las tierras entrerrianas presentan a mediados del siglo XX, rasgos productivos exclusivamente agro-pecuarios. La inundación de abril de 1959, considerada en la Argentina un "desastre nacional", deja bajo las aguas una extensión que supera los 20.000 km2. Desde Concordia hasta el delta y durante tres meses, la provincia observa un continuo manto hídrico sobre tierras ricamente productivas. Sorprendidos por la situación, los pobladores afectados buscan protección en las zonas altas y en ciudades cabeceras de Departamento. El gobierno nacional, provincial y los municipales diseñan estrategias de auxilio con el concurso espontáneamente solidario de la población. Aproximarnos a registros testimoniales escritos y orales, representativos de los que guarda aún la memoria colectiva, permite visualizar efectos socio-económicos producidos en el Departamento Gualeguaychú por la inundación del '59, evaluada en ese tiempo, la de mayor envergadura en la historia hidrográfica regional.

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This paper explores the potential usefulness of an AGE model with the Melitz-type trade specification to assess economic effects of technical regulations, taking the case of the EU ELV/RoHS directives as an example. Simulation experiments reveal that: (1) raising the fixed exporting cost to make sales in the EU market brings results that exports of the targeted commodities (motor vehicles and parts for ELV and electronic equipment for RoHS) to the EU from outside regions/countries expand while the domestic trade in the EU shrinks when the importer's preference for variety (PfV) is not strong; (2) if the PfV is not strong, policy changes that may bring reduction in the number of firms enable survived producers with high productivity to expand production to be large-scale mass producers fully enjoying the fruit of economies of scale; and (3) When the strength of the importer's PfV is changed from zero to unity, there is the value that totally changes simulation results and their interpretations.

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Tras la denominación de Real Sitio a mediados del siglo XVIII, bajo el reinado de Fernando VI, su sucesor Carlos III procedió a la incorporación a su Patrimonio de todos los Montes y Bosques de El Pardo. Comenzó entonces el proceso de planeamiento urbano y de construcción arquitectónica que finalizó en torno al año 1800. En lo sucesivo, no sólo se mantiene el curso de la conservación y consolidación de los edificios principales, sino que se realiza obra nueva de índole civil. Algunos edificios cambiaron de propiedad y de uso hasta que tras la Guerra Civil se procedió a la mayor transformación vivida por el Real Sitio. El intervalo que aquí se trata (1885 a 1965), no ha suscitado, en los estudios sobre El Pardo, atención suficiente al no acontecer obra nueva de carácter patrimonial ni ha sido objeto de análisis el trazado y la fisonomía del centro urbano residencial del pueblo que Carlos III configuró. Sin embargo se estima relevante analizar los cambios en la actividad residencial; en primer lugar porque coexiste con la arquitectura oficial y, por tanto, se entiende necesario un análisis global del conjunto y en segundo lugar porque facilita la comprensión sobre la imagen original de carácter histórico del conjunto de finales del siglo XVIII. Este marco temporal determina tres partes principales de estudio que estructuran la presente tesis, cuyas fechas establecen los intervalos históricos clave: Actuaciones sobre el núcleo urbano consolidado (1885-1931). Cese de la actividad constructiva (1931-1939). Propuestas regeneradoras y crecimiento acelerado (1939-1965). Dentro de ellos se establecen, a su vez, dos subcapítulos diferenciados con la finalidad de explicar los sucesos que pautaron los cambios trascendentales en la historia de El Pardo. En el estudio del estado de la cuestión se observa que en El Pardo, al igual que sucede en otros Reales Sitios, se investigan los edificios destacados como el Palacio, la Casita del Príncipe, la Casa de Oficios y la Casa de Infantes desde el punto de vista de su historia pero no desde la arquitectura ni de cómo esta afecta al desarrollo del trazado y por tanto al contexto urbano. Se manifiestan determinadas carencias de tratamiento gráfico que facilitarían la comprensión histórica mediante el análisis de la forma y cómo esta ha ido variando sustancialmente. El concepto de escala y orientación reordena el estudio, no sólo de estos edificios protagonistas sino de los que se entretejen a su alrededor y componen el conjunto histórico, lo cual aporta nuevas conclusiones al estado de la cuestión que aquí compete. El principal objetivo de la tesis es, por tanto, contribuir a la dimensión patrimonial mediante el estudio de la arquitectura residencial del pueblo de El Pardo y en cómo esta ha ido conformando y consolidando el entramado urbano original en torno a edificios de la realeza y corte. Analizar aquellos edificios que perduran, los que fueron reconstruidos, rehabilitados, y apuntar acontecimientos históricos que formularon la actual fisonomía. Sistematizar y reordenar sobre la traza actual los edificios que desaparecieron, nos da las pistas sobre las modificaciones en concepto de escala arquitectónica y urbana. El estudio de las fuentes y establecer una metodología de conexión de estas, ayuda a detectar dónde no se han dirigido aún los focos de interés así como las lagunas que han quedado por explorar con el fin de responder a nuevas hipótesis, conceder conclusiones y abrir otras líneas de investigación. Como conclusiones generales, la tesis aporta documentación nueva sobre el objeto de estudio, no solicitada, digitalizada o publicada con anterioridad. En ella se analizan los procesos de configuración, consolidación y transformación en el Real Sitio mediante la sistematización de estados comparativos. Con respecto al estudio de los diferentes contextos natural y urbano la tesis analiza cómo los accidentes naturales, el desarrollo de infraestructuras y el impulso de la agronomía afectaron a El Pardo a partir del siglo XIX, y estudia los procesos de configuración, consolidación y transformación en el Real Sitio mediante la sistematización de la documentación encontrada de manera gráfica y escrita. En relación al marco patrimonial arquitectónico, la tesis analiza los procesos edificatorios históricos. Se estudian, a su vez, cambios de ocupación o uso que derivaron en reformas, ampliaciones, obras de nueva planta e incluso en derribos, así como los proyectos no materializados o que se llevaron a cabo de manera parcial. Con respecto al análisis del momento histórico, la tesis analiza las posibles afectaciones, políticas, sociales y económicas en las etapas de Monarquía, Segunda República, Guerra Civil y Posguerra. Por último, la tesis abre cuatro vías de investigación (que ya se han tratado y avanzado en parte pero que escapan a los límites de este trabajo) que pueden plantear nuevas hipótesis, reportando así respuestas sobre objetos de estudio complementarios y paralelos al presente. Estas refieren a análisis más concretos sobre El Palacio Real de El Pardo y la Casa de Oficios, el Camino Real de Madrid a El Pardo desde la Puerta de Hierro, los cuarteles, puertas y portilleras del Monte de El Pardo y los proyectos desarrollados por el arquitecto Diego Méndez en los Reales Sitios para el Patrimonio Nacional. ABSTRACT Following the Royal Site denomination being granted in the mid-18th Century, during the reign of Ferdinand VI, his successor Charles III proceeded to include all the Forests and Woodlands of El Pardo in his heritage. That then gave rise to the process of town planning and architectural construction that was completed around 1800. Thereafter, not only the process of conservation and consolidation of the main buildings has been maintained, but new civil engineering works have also been carried out. Some buildings changed ownership and use until, after the Civil War, the greatest transformation experienced by the Royal Site was undertaken. The time frame this paper concerns (1885 to 1965), has not attracted sufficient attention in studies of El Pardo due to there having been no new works with heritage status, nor has there been an analysis of the layout and external appearance of the residential centre in the town once conceived by Charles III. However, it is considered relevant to analyse the changes in residential activity, firstly, because it coexists with the official architecture and, thus, it is considered necessary to perform a global analysis of the complex and, secondly, because it facilitates a historical understanding of the original appearance of the complex at the end of the 18th Century. This time framework defines three main parts of the study that provide the structure of this thesis, the dates of which establish the key historical time frames: Actions in the consolidated town centre (1885-1931). Cessation of construction works (1931-1939). Proposals of regeneration and accelerated growth (1939-1965). Two distinct sub-chapters are also established within these, in order to explain the events that marked the transcendental changes in the history of El Pardo. When studying the subject matter, it is noted that in El Pardo, as is the case in other Royal Sites, outstanding buildings such as the Palace, the Prince's Cottage, the Trades House and the Infantes House are usually researched strictly from the point of view of their history, but not from an architectural perspective, nor analysing how that affects the development of the site layout and thus the urban area. Specific shortcomings are evident in the graphic treatment that would have otherwise facilitated a historical understanding through the analysis of the shape and the way it has gradually undergone substantial variation. The concept of scale and orientation reorganises the study, not only of these key buildings, but also of those that are woven around them and make up the historic complex, allowing entirely new conclusions concerning the subject matter analysed herein. Therefore, the main purpose of this thesis is to outline our heritage through the study of the residential architecture of the town of El Pardo and the analysis of the way the original town has been built up and consolidated around the buildings erected by royalty and the court; to analyse the buildings that still remain, those that were rebuilt, refurbished, and to note historic events that shaped its current appearance. To this end, a systematic classification and reorganisation on the current urban layout of the buildings that have disappeared will give us the key to understand changes in the concept of architectural and urban scale. Studying the sources and establishing a methodology to connect them will help us detect those areas where the focus of interest has not concentrated yet, and will also reveal the gaps that remain unexplored, in order to respond to new hypotheses, reach new conclusions and open up new lines of research. As general conclusions, this thesis provides new documentation on the subject matter that had not been requested, digitized or published before. There we find an analysis of the processes of configuration, consolidation and transformation of the Royal Site through a systematic classification of comparative states. With regard to the study of the multiple natural and urban environments, this thesis analyses the way natural features, development of infrastructures and agricultural driving forces affected El Pardo as of the 19th Century, and it studies the processes of configuration, consolidation and transformation of the Royal Site by systematically classifying the documentation found in graphic and written documents. In relation to the architectural heritage framework, this thesis analyses historical building processes. Likewise, a study is also performed on the changes in land occupation or use that led to reforms, extensions, new buildings and even to demolitions, as well as on unrealized projects, or even on those that were partially implemented. As for the analysis of the historical time period, this thesis assesses the potential political, social and economic effects of the Monarchy, Second Republic, Civil War and Post-War Periods. Finally, this thesis opens up four lines of investigation (that have already been discussed and partially advanced, but which fall beyond the scope of this work) that could pose new hypotheses, thus giving answer to other subject matters parallel and complementary to the one assessed herein. These refer to more specific analyses of El Palacio Real de El Pardo (Royal Palace of El Pardo) and the Casa de Oficios (Trades House), the Royal Highway from Madrid to El Pardo from Puerta de Hierro, the barracks, gates and entrances to estates in the Woodlands of El Pardo and the projects developed on the Royal Sites by the architect Diego Méndez for the National Heritage.

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The introduction of a homogeneous road charging system according to the Directive 2011/76/EU for the use of roads is still under development in most European Union (EU) member states. Spain, like other EU members, has been encouraged to introduce a charging system for Heavy Goods Vehicles (HGVs) throughout the country. This nationwide charge has been postponed because there are serious concerns about their advantages from an economic point of view. Within this context, this paper applies an integrated modeling approach to shape elastic trade coefficients among regions by using a random utility based multiregional Input- Output (RUBMRIO) approach and a road transport network model in order to determine regional distributive and substitutive economic effects by simulating the introduction of a distance-based charge (?/km) considering 7,053.8 kilometers of free highways linking the capitals of the Spanish regions. In addition, an in-depth analysis of interregional trade changes is developed to evaluate and characterize the role of the road charging approach in trade relations among regions and across freight intensive economic sectors. For this purpose, differences in trade relations are described and assessed between a base-case or ?do nothing? scenario and a road fee-charge setting scenario. The results show that the specific amount of the charge set for HGVs affect each region differently and to a different extent because in some regions the price of commodities and the Generalized Transport Cost will decrease its competiveness within the country.

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La implementación de indicaciones geográficas, generan distintos efectos socio-económicos, tecnológicos y ambientales, no sólo a nivel de los productores directamente involucrados, sino también en el marco del sistema agroalimentario local (SIAL). Entre estos últimos, se destaca la organización colectiva de los productores y el desarrollo de una gobernanza, a partir del conjunto de actividades desarrolladas por el Consejo Regulador (CR), en torno al control de calidad y la promoción del producto. El concepto de gobernanza territorial implica llevar a cabo procesos de organización colectiva en red en los que tienen lugar procesos de coordinación multi-nivel entre los agentes, las empresas y las instituciones locales, en un contexto de asimetría en la información y de la existencia de numerosos decisores. El objetivo de esta Tesis Doctoral es realizar un aporte metodológico para el estudio de la gobernanza territorial en sistemas agroalimentarios localizados, a partir de la construcción de indicadores (de calidad, innovación, efectos económicos y prácticas ambientales) y el análisis de las redes de colaboración en materia de difusión del conocimiento e innovaciones técnicas, organizativas y comerciales en la Comarca de Sierra Mágina. Para responder el objetivo se aplica análisis de redes sociales y se construyen indicadores sintéticos para valorizar los efectos. Se realizan encuestas a la totalidad de almazaras presentes en la Comarca de Sierra Mágina, tanto a las que poseen el signo de calidad como a las que no cuentan con dicha marca territorial y entrevistas a testigos privilegiados. En las mismas se consulta sobre las actividades y proyectos que realizan en forma conjunta con otras almazaras e instituciones, así como los actores o referentes a quiénes consultan en temas relacionados con la calidad en la producción olivícola y la obtención de aceite, así como aquellos actores a quienes consultan en aspectos referidos a la Comercialización y gestión. A partir de la información recabada, se obtienen cuatro indicadores sintéticos de efectos de la implantación de una DOP en las almazaras adheridas, referidos a la adopción de innovaciones productivas y organizativas, a la calidad en producto y procesos, a las rentas de diferenciación y a las prácticas ambientales. Asimismo se generan las matrices bi-narias y valuadas para las redes de colaboración en la difusión del conocimiento y se calculan los indicadores particulares. Esto nos permite estudiar las características de las redes que se generan (tamaño, conectividad), el papel del CR en la gobernanza territorial y de otras instituciones del medio, así como identificar actores centrales y grupos en el proceso de difusión de conocimientos. Los resultados muestran que los SIAL pueden beneficiarse de la organización interprofesional y de cooperación interinstitucional a escala local que se producen tras la implantación de una DOP. Se desarrolla un proceso de articulación y un fuerte intercambio de conocimientos entre actores ligados al propio proceso de control de la calidad diferencial. Pero, junto con ello, se desarrollan actividades de formación y de promoción del patrimonio comarcal y se consolidan redes locales de innovación y colaboración mutua en distintas actividades, tanto entre actores de la propia cadena de producción, como entre éstos y las instituciones del medio. Estas actividades, junto con la presencia de un entramado institucional denso, permiten el desarrollo de una gobernanza territorial alrededor del sistema agroalimentario del aceite de oliva. ABSTRACT The implementation of geographical indications has different socio-economic, technological and environmental effects not only for the producers involved but also for the local agro food system (LAFS). Among the latter, we can highlight the collective organization of producers and the development of territorial governance through a series of tasks developed by the Regulatory Board (RB) as regards quality control and product marketing. The concept of territorial governance involves processes of collective organization in networks, where processes of multi-level coordination among agents, enterprises and local institutions take place within a context of asymmetry of information and numerous decision makers. The objective of this Doctoral Thesis is to contribute with methodological tools for the study of territorial governance in local agro food systems by constructing indicators (of quality, innovation, economic effects and environmental practices) and by analyzing networks of collaboration in terms of dissemination of technical, organizational and commercial innovation and knowledge in Comarca de Sierra Mágina. To achieve that objective, social network analysis is applied and synthetic indicators are elaborated to valorize the effects. Interviews to key actors and surveys to every oil mill in Comarca de Sierra Mágina are carried out, not only in those oil mills that host a label of quality but also in the ones that do not hold it. These interviews inquire about tasks and projects performed together with other oil mills and institutions and about actors or referents consulted in topics related to quality in olive production and oil extraction as well as in management and marketing. From all the information collected, four synthetic indicators of the effects of establishing Protected Designations of Origen (PDOs) in the associate oil mills are obtained, in terms of adoption of productive and organizational innovations, process and product quality, income differentiation and environmental practices. In the same way, binary and valorized matrixes are generated for those networks collaborating in the dissemination of knowledge and specific indicators are calculated. This allows to study networks (size, connectivity), the role of RB in territorial governance and other institutions involved and to identify main actors and groups in the process of knowledge dissemination. The results show that the LAFS can benefit from inter-professional organizations and inter- institutional cooperation at local levels by implementing PDOs. A process of articulation and strong exchange of knowledge is developed among those actors involved in controlling differential quality. But, at the same time, activities for the formation and promotion of the “comarca” patrimony are developed and local networks of innovation and mutual collaboration are built for different activities, not only among actors in the production process itself, but between these actors and local institutions as well. These tasks, together with the existence of a dense spatial entrepreneurial network, allow the development of territorial governance on the olive oil agro food system.

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Innovation is a process that faces several market failure situations. For this reason and for being considered one of the main drivers of economic growth, a large number of governmental and supranational policies are designed to foster technological progress. Along with these policies, there is an increasing concern with their continuous evaluation aiming at providing valuable feedback for these program?s adaptation and adequacy to the firm?s needs. The paper develops an evaluation of the influence of innovation-focused programs in firm¿s innovation and economic performance by means of a comparative analysis of the results obtained by Spanish firms that have participated in R&D national programmes and those achieved by Spanish firms participating in EUREKA international program. Findings show that the programmes were effective in achieving their objective of promoting technological innovation but, as regards the economic effects, the results were less conclusive since some differences were observed depending on the programme. The EUREKA companies displayed better behaviour, with positive differences in their returns on assets and labour productivity. The results also confirm the importance of designing more detailed and rigorous evaluation processes, taking into account the risk variable, in order to draw a more realistic picture of the impact of national and international programmes.

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Despite public perceptions, labour mobility is low in the EU, particularly within the euro area. The authors of this Policy Brief make four main points: first, that the economic and financial crisis has affected mobility patterns by redirecting flows away from the periphery, thus showing the limits of labour mobility potential within the current eurozone - largely due to the negligible mobility of nationals from large countries hit by the crisis. Second, east-west mobility has not been fundamentally affected by the crisis, and ten years after the eastern enlargement the number of East Europeans living in EU15 should be of no overall concern. Third, the long-term economic effects of mobility are uncertain, but potential negative effects are more likely to show up in sending countries than in receiving ones. Finally, in view of the lessons learned from the economic crisis, the Commission and member states should adopt a longer-term view on labour mobility. The authors recommend a further upgrade of job-matching tools, namely the EURES system, and should foster better recognition of qualifications and the exchange of best practices among mobility networks. In order to improve mobility in the longer term, the Commission and member states should improve the mobility of third-country nationals – starting with those completing tertiary education at an EU institution and able to find employment. The aim of improving mobility gives new impetus to the ‘mother tongue + two foreign languages’ objective and the European Benchmark of Language Competences Initiative, in particular competence in the first foreign language taught at school.

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This paper examines the policies pursued by the European Central Bank (ECB) since the inception of the euro. The ECB was originally set up to pursue price stability, with an eye also to economic growth and financial stability as subsidiary goals, once the primary goal was secured. The application of a single monetary policy to a diverse economic area has entailed a pronounced pro-cyclicality in its real economic effects on the eurozone periphery. Later, monetary policy became the main policy instrument to tackle financial instability elicited by the failure of Lehman Brothers and the sovereign debt crisis in the eurozone. In the process, the ECB emerged as the lender of last resort in the sovereign debt markets of participating countries. Persistent economic depression and deflation eventually brought the ECB into the uncharted waters of unconventional policies. That the ECB could legally perform all of these tasks bears witness to the flexibility of the TFEU and its Statute, but its tools and operating procedures were stretched to their limit. In the end, the place of the ECB amongst EU policy-making institutions has been greatly enhanced, but has entailed repeated intrusions into the broader domain of economic policies – not least because of its market intervention policies – whose consequences have yet to be ascertained.