NIGEL ALLINGTON Bye Fellow and Director of Studies in Economics, Downing College, Cambridge University, Cambridge, UK; Member, Julian Hodge Applied Macroeconomics Institute, Cardiff University, UK JOSE ALBIAC Researcher, Economics Department, CITA (Government of Aragon), Spain RUI HENRIQUE ALVES Invited Lecturer, Faculty of Economics, University of Porto, Portugal DAVIDE FURCERI University of Illinois, Chicago, USA JESUS FERREIRO Associate Professor in Economics, University of the Basque Country, Bilbao, Spain JOCHEN HARTWIG Researcher, Swiss Institute for Business Cycle Research, Switzerland; Lecturer, University of St Gallen, Switzerland; Lecturer, Swiss Federal Institute of Technology, Zurich, Switzerland ECKHARD HEIN Senior Researcher for Macroeconomic Policies, Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation, Dusseldorf, Germany; Visiting Lecturer, Carl von Ossietzky University, Oldenburg, Germany JUAN RAMON MURUA Professor of Economics, Applied Economics Department, University of the Basque Country (UPV-EHU) TORSTEN NIECHOJ Research Fellow, Faculty of Social Sciences, University of Goettingen, Germany MARGIT SCHRATZENSTALLER Researcher, Austrian Institute of Economic Research, Vienna, Austria; University of Vienna, Vienna, Austria; University of Applied Sciences, Vienna, Austria FELIPE SERRANO Professor in Economics, University of the Basque Country, Bilbao, Spain; Head of Department, Applied Economics V, University of the Basque Country,Bilbao, Spain