BoV Review published

Bank of Valletta has just published the 42nd edition of the Bank of Valletta Review. The popular bi-annual publication features four informative papers and is now available for download from www.bov.com.

The first paper, entitled Valuation of the Salini National Park by Luciano Pace Parascandalo is a study that aims to obtain a monetary value for the benefits achieved from recreation at the Salini National Park in Malta.

Funding: The University of Malta’s Main Challenge by Philip von Brockdorff deals with the sharp increase in enrolment at the University of Malta over the last 20 years, which, combined with the recent economic downturn has made funding more challenging.

The third paper, authored by Vanessa Zammit tackles the Asymmetries in the Monetary Transmission Mechanisms in the Euro Area: The Case of the Housing Market. After 10 years of the euro and the single monetary policy, the monetary transmission mechanism is still asymmetric across euro area countries, with the housing market being one of the factors behind such divergence.

Clyde Caruana delves on Measuring the Efficiency and Effectiveness of the Welfare State: A Comparative Study of the EU-27 Member States’ Abstract. Welfare state outcomes go beyond poverty and inequality reduction. Economic literature suggests that welfare is a dynamic concept which benefits may cost in terms of employment, long-term unemployment and economic growth.

Lino Briguglio is the editor of this edition of the Bank of Valletta Review and he is assisted by Lino Delia and Gordon Cordina.