For the time being—and possibly for a considerable time to come—developments and prospects for the euro area are quite favorable. This upbeat outlook is underpinned by buoyant activity indicators and a supportive policy mix. High household and business confidence, rising capacity utilization...

This paper examines the relationship among economic context, political institutions, and the political dynamics of adjustment within national models of capitalism through an analysis of recent labor-market reform in France and Germany. It argues that a climate of economic austerity since the...

Der konjunkturelle Schwung hat im Laufe des Jahres 2002 ständig abgenommen bis hin zur Stagnation im letzten Quartal. Das reale Bruttoinlandsprodukt (BIP) expandierte im Jahresdurchschnitt um 1,2%, die Arbeitslosenquote erhöhte sich auf 8,7%. Die Konsumentenpreise stiegen um 1,9%. 2003 dürfte...