Trade theories predict and explain the consequences of economic integration. Generally, they show that freer international trade leads to specialisation, technological convergence and faster economic growth. This study compares the conclusions of the trade theories with empirical observations of...

Introduction -- Real, Monetary and Fiscal Integration in the European Union: A Prototype Model of European Integration - The Case of Austria -- Trade Agreements and Regional Disparities -- Strategic Macroeconomic Policies in a Monetary Union -- Determinants of Maximum Sustainable Government Debt...

The future of European Monetary Union (EMU) stands as one of the most important economic issues of the era. The author argues that in the event of macroeconomic shocks, rather than acting as a cohesive force, EMU could give rise to disunity. As EMU is not an optimal currency area, asymmetric...