Public debt in Europe has risen continuously over the last two decades. How is the transition to European Economic and Monetary Union, with the increasing economic interdependence between individual member states which it involves, likely to affect this situation? Which policy issues are of...

Public debt in Europe has risen continuously over the last two decades. How is the transition to European Economic and Monetary Union, with the increasing economic interdependence between individual member states which it involves, likely to affect this situation? Which policy issues are of...

Zusammenfassung Die öffentlichen Postämter in den meisten Indutrieländern sind durch ein gesetzliches Monopol geschützt, in der Regel auf dem Markt für Briefdienstleistungen unterhalb eines bestimmten Gewichts. Folge dieser Monopolregime sind weitgehende Ineffizienzen und...

European economic and monetary integration provides further incentives to increase public deficits and debt in Europe. Spillover effects and free-riding strategies are likely to come into being in an EMU. As a response to this challenge, the authors propose the introduction of constitutional...